Japanese all-industry index

Broadly Softer Dollar amid More Hopeful Investor Mood

May 26, 2020

The evolution of the Covid-19 pandemic remains highly uncertain, but investors have chosen hope over fear at least for a day or so. Economies are being reopened at varying speeds, and there has been some encouraging news regarding vaccine development. Released economic data have confirmed improvement in many cases, meaning a slower implosion rather than […] More

Coronavirus Spreading and Three Central Banks Review Monetary Policy

January 23, 2020

Share prices slumped another 2.8% in China, 1.5% in Hong Kong, 1.0% in Japan, 0.9% in South Korea, and 0.6% in Australia and Singapore as the deadly pneumonia-like disease centered in Asia claimed more victims. Share prices in Europe are so far today down 0.4% in Germany and 0.3% in the U.K. and Switzerland but […] More

Investors Concerned about Trade Strains Augmenting Slow Global Growth

November 21, 2019

Share prices overnight in the Pacific Rim fell 1.6% in Hong Kong, 1.4% in South Korea, 1.2% in Singapore, 0.7% in Australia, 0.6% in Taiwan and Indonesia, 0.5% in Japan and 0.3% in China. European stock markets are down but not as sharply as Asia’s. The dollar today is little changed since Wednesday’s close. Ten-year […] More

Central Bankers Less Confident about What To Do

February 21, 2019

FOMC minutes from the late January policy review clarified that the Committee’s new buzz word “patience” reflects uncertainty as to what outlook the latest economic data and other factors may be implying. “In light of the range of uncertainties associated with global economic and financial developments, the Committee decided that it was not useful at […] More

Softer Dollar on the First Day After the Fed’s Rate Hike

December 20, 2018

Markets did not take comfort from Wednesday’s FOMC interest rate hike or the upbeat economic prognosis of Chairman Powell. The dollar fell overnight by 0.6% against the euro, 0.5% relative to the yen and  Swiss franc, 0.4% vis-a-vis sterling, 0.3% versus the Australian dollar, and 0.2% against the yuan and loonie. Share prices fared poorly […] More

An Unrepresentative Day

November 21, 2018

Equities have rebounded but just partly from earlier steep losses this week. Moreover, being the day before the U.S. Thanksgiving, trading is distorted and should probably not be viewed as representative of either economic and political fundamentals or of the state of investor psychology. U.S. stocks are up less sharply than those in Germany, Canada […] More

Dollar Softens Further

August 22, 2018

The dollar lost some further modest ground against major currencies like the euro (0.3%), Swiss franc and Canadian dollar (0.2%), and New Zealand dollar (0.1%). The dollar edged up 0.1% against the Aussie dollar and sterling, by contrast. U.S. stocks remained buoyant yesterday on strong corporate earnings prospects, but investor misgivings about Trump’s legal uncertainties […] More

Dollar Broadly Stronger… Gold and Global Bonds Down

April 25, 2018

The Mexican peso extended its recent swoon, falling 1.0% against the dollar and moving past the 19 per USD threshold. U.S./Mexican relations appear headed for another dive, as Lopez Obrador, the former Mexico City mayor and a populist, retained a huge lead in presidential election polls. The election is just over two months away. It’s […] More

Trade War Fear Takes Center Stage

March 22, 2018

While Fed Chairman Jay Powell downplayed the risk to growth from trade restraints at least insofar as any influence on U.S. monetary policy is concerned, global financial markets are taking the danger of a trade war very seriously, particularly as President Trump seems poised to slap $50 billion of tariffs on imported Chinese goods. There’s […] More

Trump Grabs Spotlight… Japan Also in the News

January 23, 2018

President Trump is on a roll. Having secured a tax cut with benefits skewed to the rich and then trapping congressional democrats in a political snake pit over immigration, he’s turned his sight on the biggest campaign promise of all: so-called fair trade. A 30% tariff on U.S. imports of foreign-made solar equipment threatens to […] More

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