Japanese machinery orders

Dollar Strengthens, Bond Prices and Mexican Peso Fall

November 10, 2016

Large protests against the U.S. election results erupted in several U.S. cities overnight, including N.Y.C., Chicago, Oakland and Seattle. President-Elect Trump will travel today to Washington to meet President Obama at the White House to begin the transition of administrations. On the premise of a more stimulative U.S. fiscal policy, a likely federal funds rate […] More

Lower Dollar as Hopes Dim over Nearness of Next Federal Reserve Rate Hike

August 10, 2016

Today’s main financial theme is the persistent weakness of global growth.  The 10-year British gilt yield fell six basis points to a new record low of 0.52% in the U.K. versus 1.43% at the end of May. Ten-year German bund and Japanese JGB yields are 2 basis points lower and each quite negative at -0.10% […] More

Sharply Weaker Yen

July 11, 2016

The yen lost 2.1% against the dollar, notching its biggest daily decline in 11-1/2 weeks.  There has not been reported intervention, but Sunday’s upper house parliamentary election, won strongly by Prime Minister Abe’s LDP Party, clears the way for more aggressive macroeconomic stimulus there. Half of the 242 seats in Japan’s House of Councillors were […] More

Market Pessimism Returns

June 9, 2016

Central bank action overnight accentuated the negative. ECB President Draghi made another plea for badly needed structural reform and fiscal support, and he warned of lasting damage to potential growth in the region of prolonged very weak growth with persisting deflationary risks. ECB Governor Villeroy defended very low interest rates as necessary to counter insufficient […] More

FOMC Minutes and a Missing Plane Rattle Market Nerves

May 19, 2016

A wide range of commodities have dropped sharply, including overnight declines of 1.5% in gold, 1.9% in oil and over 2.0% in copper. Stocks and bonds also suffered. Share prices dropped 1.3% in New Zealand and Singapore, 1.2% in India, 1.0% in Hong Kong, 0.8% in Taiwan, 0.6% in Indonesia and Australia, and 0.5% in […] More

Mostly Firmer Dollar as Markets Eye U.S. Primaries and Upcoming FOMC and BOJ Meetings

March 14, 2016

There’s been a 12.7% devaluation of the Egyptian pound.  The U.S. currency has risen against a wide array of other emerging market currencies, too, as investors upgrade the probability of further Fed tightening before midyear. The dollar shows gains of 0.6% against the kiwi, 0.5% versus the Swiss franc and loonie, 0.4% vis-a-vis the euro, […] More

Dovish Remarks from a Federal Reserve President

February 17, 2016

Boston Fed President Eric Rosengren gave a speech overnight that warned of long-lasting effects on inflation from the plunge of energy prices and predicted that such could impeded efforts to raise U.S. interest rates.  Rosengren is one of the more dovish FOMC members. ECB Governing Council member Nowotny of Austria struck a very different tone, […] More

Central Banks, Data, and China All in the Spotlight

January 14, 2016

Following Wednesday’s U.S. stock market selloff, share prices fell 2.7% in Japan, 1.9% in Singapore, 1.6% in Australia, 1.0% in Taiwan, 0.9% in South Korea, 0.6% in New Zealand and 0.5% in Hong Kong.  Equities in Europe are currently down on the day by 3.2% in Greece, 2.8% in France, 2.7% in Germany, 2.4% in […] More

Dollar Weakens Pretty Much Across the board

December 9, 2015

Share prices in Asia and Europe are mostly lower, but a 0.4% uptick in China’s market is an exception.  Stocks fell 1.3% in India and Indonesia, 1.0% in Japan, 1.4% in Taiwan and 0.6% in New Zealand and Australia.  Equities in Europe have so far lost 3.8% in Greece, 1.1% in France, 1.0% in Switzerland, […] More

Aussie Dollar Rose and Oil Price Fell

November 12, 2015

Australia’s currency strengthened 1.0% against its U.S. counterpart on strong labor market data.  Australia’s jobless rate fell 0.3 percentage points to 5.9%, and 58.6K jobs were created last month, four times greater than anticipated. The U.S. dollar has otherwise climbed 0.3% against the euro and sterling, 0.2% versus the kiwi and loonie, and 0.1% relative […] More

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