gold

September and 3Q in Figures

September 30, 2014

The dollar rose broadly and commodities fell in both September and the third quarter.  Ten-year sovereign debt yields rose in September but fell in the summer quarter.  Three-month euro deposit rates fell sharply in July-August but little further in September.  Other short-term interest rates held generally steady in the quarter. 10-Yr Yield 09/30/14 Chg from […] More

March and the First Quarter in Figures

March 31, 2014

Ten-year sovereign debt yields rose slightly in most of our survey during March but still posted significant declines in the quarter.  There was again almost no movement at the short end.  Oil and gold prices traced directionally opposite moves against one another in both March and 1Q.The dollar fell over 3% in March against the […] More

October in Figures

October 31, 2013

Share prices strengthened in October with the notable exception of Japan.  Long-term interest rates subsided further, while short-term rates remained steady and well below the long rates.  The dollar closed narrowly mixed, and gold posted a minuscule dip.  Oil prices fell around 6% and swung back below $100 per barrel. 10-Yr Yield 09/30/13 10/31/13 Chg […] More

September and the Third Quarter in Figures

September 30, 2013

The dollar traded lower in September except against the yen.  Share prices advanced pretty strongly, and bond yields settled back, spurred by the Fed’s surprise decision not to taper just yet.  The prices of gold and oil fell.  During the third quarter, equities climbed, but the dollar eased against the currencies covered in this feature. […] More

May in Figures

May 31, 2013

May was a difficult month for commodity-sensitive currencies and ten-year fixed income securities.  The U.S. dollar rose against most currencies between the start and end of May. Abenomics, a Japanese policy strategy to keep long-term interest rates low, boost share prices and counter upward pressure on the yen, was challenged in May, which saw the […] More

Strengthening Aura Surrounding the Dollar

May 16, 2013

One hears increasingly the opinion that the dollar may be in a multi-year period of strength.  Optimism rests on several pillars. One is the broadness of the dollar’s recent advance.  Across-the board appreciation has transpired since this time last Thursday, and important barriers have been pushed aside during the statement week such as 100 yen, […] More

Doldrums for Dollar Watchers

April 25, 2013

It’s been another uneventful statement week for key dollar exchange rates.  The Canadian and Australian currencies remain boringly close to parity with the greenback.  The waiting game goes on for the euro, which has averaged $1.3154 thus far in 2013, to break decisively away from $1.3000.  The euro, Swiss franc, sterling, Aussie dollar, Chinese renminbi, […] More

Across-the-Board Declines in the Dollar

April 25, 2013

The dollar has fallen 1.1% against sterling, 0.8% versus the kiwi, 0.5% relative to the yen,  0.4% against the euro and Australian dollar, 0.3% vis-a-vis the loonie and Swiss franc and 0.1% against the Chinese yuan. Holiday closures today are in Australia and New Zealand for Anzac Day, Italy for Liberation Day, and Portugal for […] More

Unresponsive Currencies

April 18, 2013

The wonderful thing about currency markets is the virtually limitless range of determinant factors, and these have been days full of unprecedented and unexpected developments.  The continuing inertia of several key dollar relationships is thus surprising, and that suggests a structural reduction in the intrinsic volatility of currency movement.  The table below compares current dollar […] More

March and 1Q13 in Figures

March 30, 2013

Short-term interest rates remained ultra-low in the first quarter of 2013.  The Federal Reserve retained an aggressive program of quantitative easing, while the Bank of Japan prepared to undertake an even more forceful monetary stimulus under new leadership.  A number of key equity markets performed very well, especially Japan’s where the Nikkei-225 index jumped almost […] More

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