Japanese all-industry index
Signals from the Fed, Bank of Japan and ECB
November 19, 2015
FOMC minutes from the October meeting released Wednesday afternoon showed most members inclined to hike the federal funds rate in December but also underscored an intention to normalize policy gradually thereafter and spreading doubts that the peak can lie much above 2%. A five hour 20 minute meeting of the Bank of Japan Board over […] More
After FOMC Minutes, a Bunch of New Data Releases and ECB Minutes
May 21, 2015
FOMC minutes released late yesterday suggest that a June rate hike is possible but improbable. Today’s release of ECB Governing Council minutes, known formally as the “ECB Account,” reflect determination to complete the entire program of quantitative easing scheduled to run through September 2016, satisfaction with how QE is working thus far, but continuing frustration […] More
Difficult Talks with Greece as Time Begins to Run Out
April 24, 2015
The spotlight today is on a meeting of eurozone finance ministers, trying to secure a debt agreement with Greece. The tentative deal back in February was contingent upon Greece undertaking reforms but the end of April. Well here we are, with scant reforms, and Greek officials wanting aid first and then reforms to follow, but […] More
Weaker Yen and European Stocks, Stronger Asian Equities, and Firmer Oil
December 19, 2014
A volatile week in the marketplace has seen more swings on Friday, but dollar movement against the majors has been less than 0.3% except for a 0.4% drop in the yen. Share prices in the Pacific Basin advanced by 2.5% in Australia, 2.4% in Japan, 1.7% in South Korea, 1.3% in Hong Kong, 1.1% in […] More
Senate Vote Fall Short of 60 Needed to Approve Keystone XL Oil Pipeline
November 19, 2014
The dollar advanced overnight by 1.0% against the Australian dollar, 0.8% versus the kiwi, 0.7% relative to the yen, and 0.4% vis-a-vis the loonie. The dollar is unchanged against the yuan and down 0.2% relative to sterling and 0.1% against the euro and Swissie. Equities in the Pacific Rim rose 1.2% in Taiwan, 0.6% in […] More
All Quiet on the Scottish Front
September 19, 2014
The referendum on Scottish independence was defeated by a 55-45% vote and in 28 of 32 constituencies. In relief, the British Ftse has risen 0.7%. Equities advanced 1.6% in Japan, 0.7% in China, 0.6% in Hong Kong, 0.5% in New Zealand, 0.4% in Indonesia and 0.3% in South Korea and Australia. The German Dax and […] More
Less Risk Aversion
July 22, 2014
Now that Ukraine rebels are handing over the bodies of Flight 17 victims, investors are less fearful about an escalating cold war between Russia and Western powers. Share prices climbed 1.7% in Hong Kong and India, 1.2% in China, 0.8% in Japan, 0.6% in Taiwan, 0.5% in South Korea and 0.1% in New Zealand, Australia […] More
Weaker Australian and New Zealand Dollars
May 20, 2014
The U.S. currency is 0.7% stronger against the Aussie dollar and up 0.5% relative to the kiwi. The U.S. dollar otherwise is unchanged against the Swiss franc and Chinese yuan, 0.1% firmer verus the loonie and euro and 0.1% softer against the yen and sterling. Share prices fell 2.4% in Indonesia, 1.1% in Thailand where […] More
Difficulties for Emerging Market Currencies Despite Lower Chinese Money Market Rates
February 19, 2014
Bloody street unrest with deaths reported in the Ukraine and Thailand have generated selling pressure on a wide spectrum of emerging market currencies overnight, including the hryvnia, baht, rand, ruble, forint, zloty, and koruna. Investors await FOMC minutes due at 19:00 GMT today and in the meantime are perusing an unexpected rise in the British […] More
Beyond the Taper
December 19, 2013
In the wake of yesterday’s Federal Reserve “taper” initiative, the dollar is higher, the yen is softer, 10-year sovereign debt yields are up, U.S. share prices are holding onto most of their gains, European stocks have rallied, and perhaps most dramatically of all, gold has plunged another 3.3% and is below $1200 per ounce. New […] More
