Japanese machinery orders

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

Yuan Down Again But at a More Gradual Pace

August 13, 2015

The Chinese renminbi dipped only 0.3% today. The dollar is unchanged against the Swiss franc and Aussie dollar, up 0.6% against the loonie, 0.5% relative to the euro, 0.9% versus the kiwi and 0.2% vis-a-vis the yen and sterling. In Pacific Rim stock market action, the Shanghai Composite Chinese index recovered 1.8%.  Equities rose 2.3% […] More

China Situation Better, Greek Situation Still Ominous

July 9, 2015

The Shanghai Composite index of Chinese share prices jumped 5.8%, as officials imposed even more restrictions to prevent big sale orders and short selling in general.  Elsewhere in the Pacific Rim, stocks rose 4.5% in Hong Kong but fell 0.7% in Indonesia and Taiwan, 0.5% in New Zealand and Singapore and 0.4% in India.  The […] More

Across-the-Board Dollar Gain in Absence of Meaningful Data News

May 18, 2015

Relative to last week’s closing levels, the dollar has risen 1.2% against the kiwi, 0.9% relative to the loonie, 0.8% vis-a-vis the euro, 0.7% versus the Swiss franc, 0.6% against the Australian dollar , 0.4% versus the yen and 0.3% relative to sterling. The DOW opened comparatively steady, but share prices are down by 1.9% in […] More

Diving Chinese Trade Surplus Steals the Spotlight

April 13, 2015

China’s $3.08 billion trade surplus last month was 95% smaller than the average of $60.4 billion over the six prior months and the weakest monthly result since February 2014.  Exports recorded a 15% on-year drop instead of rising 10% as analysts were assuming.  Imports fell by 12.7% from the year-earlier level. There were also several bits […] More

Continuing Euro Support above $1.1300

February 12, 2015

The euro rose 0.2% against the dollar.  Despite persistent concerns about Grexit — Greece abandoning the common European currency or being thrown out by other members — the euro, now at $1.1342, repeatedly finds support whenever it dips under $1.13.  Greek debt talks have made very little progress.  They will resume next Monday, with creditors […] More

Swiss National Bank Lights a Firestorm and India’s Central Bank Also Surprises

January 15, 2015

There’s been a whole lot of shaking going on in world financial markets overnight. Dollar/Swissie plunged 14.2%, and Swiss equities have slumped 9.5%.  The trigger for these big moves was the Swiss National Bank’s abandonment of its 1.2000 franc per euro ceiling, which was imposed initially on September 6, 2011.  The cost of intervention was […] More

A Number of Surprises

October 9, 2014

Fed officials rarely comment on the dollar, so the following passage from minutes of September 16-17 meeting of the FOMC caught the market’s attention, sending the dollar and bond yields lower and turning around Tuesday’s swoon in equities. Some participants expressed concern that the persistent shortfall of economic growth and inflation in the euro area […] More

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