Japanese current account

Equity Sell-Off Continues

January 14, 2014

In Japan, whose market was closed Monday for Coming of Age Day, the Nikkei-225 slumped 490 points or 3.1%.  Equities in Europe are down 0.5% in Germany, 0.4% in Spain and France, 0.3% in Italy and 0.2% in Britain.  Other Pacific Rim stock markets recorded losses of 1.5% in Australia, 0.7% in New Zealand, 0.4% […] More

Depressed Yen

November 11, 2013

The yen at 99.20 is 1.0% weaker than the dollar, which otherwise shows dips of 0.2% against the Swiss franc and euro and 0.1% versus the kiwi.  The dollar is up 0.2% relative to the Australian dollar and 0.1% vis-a-vis sterling but unchanged against the loonie and yuan. Stocks overnight rose 1.4% in Hong Kong […] More

Firmer Australian Dollar after Data

October 8, 2013

The Australian dollar advanced 0.5% against its U.S. counterpart, buoyed by upbeat Aussie data showing a 1.1% jump in September job ads, a 31-month high in business confidence, and a 4-month high in business conditions.  Prospects for further monetary relief are fading in Australia. There’s no sign of any progress toward a U.S. budget deal, […] More

Some Discouraging Data at Week’s End

January 11, 2013

Japan reported a JPY 222 billion unadjusted current account deficit for November and a 4.2% on-year decline in exports.  There was a customs clearance trade deficit of JPY 751 billion in the first twenty days of December.  The seasonally adjusted current account surplus was 45% smaller at JPY 226 billion in November than October’s surplus. […] More

Gloomy Report from IMF

October 9, 2012

A new World Economic Outlook with downwardly revised growth forecasts was released by the IMF.  Projected global growth in 2012 and 2013 was revised to 3.3% and 3.6% from estimates made in July of 3.5% and 3.9%.  The euro area will contract 0.4% in 2012 and rebound just 0.2% in 2013 (the latter being trimmed […] More

European Equities and Euro Turn Lower

August 8, 2012

The euro and Swiss franc that shadows it are each 0.3% weaker against the dollar, which otherwise has lost 0.4% versus the yen, 0.2% relative to sterling and 0.1% against the Australian dollar and yuan.  The greenback has edged 0.1% higher against the kiwi. Stock prices are down 1.5% in Spain, 0.5% in Britain and […] More

Euro Climbs to Best Level Since December 12

February 8, 2012

Although Greek officials still have not reached a final austerity package accord that would permit a second bailout of EUR 130 billion, progress is said to be occurring, and the euro advanced to $1.3290.  That’s 5.3% stronger than the January 16th low of $1.2623.  Investors seem to be concluding that there’s no realistic alternative to […] More

Another Ugly Day in the Marketplace Thanks to Europe

November 9, 2011

The embattled Italian Prime Minister Berlusconi agreed to resign once budget cuts and economic reforms are approved by parliament.  Nevertheless, Italian sovereign debt yields are sharply higher.  The five-year advanced to a crippling 7.14%, and the 10-year spread versus German bunds widened to as much as 536 basis points.  Italian elections are likely in February, […] More

Ezone Default Fears Mount Ahead of U.S. Jobs Report

July 8, 2011

Investors are watching two shows today.  Mounting concern that Euroland’s peripherals will default are reflected in a stronger German bund and weaker peripheral bonds.  The Italian minus German 10-year bond spread reached its greatest width since July 2002, and the euro has depreciated 0.7% against the dollar.  Meanwhile, optimism about the U.S. employment figure, due […] More

Risk Aversion Sends Stocks and Commodities Lower and Yen and Dollar Higher

June 8, 2011

Euroland officials still haggling over the composition of a Greek bailout. OPEC ministers meeting in Vienna have range of stands over whether to raise oil production. Moody’s again warns that British AAA sovereign debt rating may get downgraded. Today’s release of the Fed Beige Book of regional trends comes amid mounting concern that U.S. growth […] More