Manufacturing PMIs

New Month Kicks Off with Further Evidence of Accelerating Turkish Inflation, a Whole Lot of PMI Surveys, and North American Holidays

September 3, 2018

U.S. and Canadian Markets are closed for Labor Day holidays. Turkish CPI inflation accelerated two percentage points to 17.9% in August, its highest level since the end of 2003. PPI inflation catapulted to 32.3% from 17.4% the month before. In response, officials at Turkey’s central bank have promised to tighten monetary policy soon. Bank of […] More

Assessing July Factory PMIs and Awaiting FOMC Statement

August 1, 2018

A parade of more than twenty purchasing manufacturing indices released today showed weaker July than June conditions by a ratio of five to one. Today’s FOMC decision is neither expected to entail an interest rate change nor any back-down of resolve following President Trump’s criticism that the Fed has been too quick to raise interest […] More

Third Quarter Begins with Dramatic Dollar Appreciation and Stock Market Losses

July 2, 2018

The dollar strengthened 1.1% versus the peso and kiwi, 0.8% relative to the yuan and Australian dollar, 0.7% against the euro and sterling, 0.6% vis-a-vis the Swiss franc, 0.4% against the loonie but just 0.1% versus the yen. Share prices slumped 2.5% in China, 2.4% in South Korea, and 2.2% in Japan as well as […] More

Even Ominous Reductions of Uncertainty Bring Market Relief

June 1, 2018

Share prices in Europe have rallied 2.6% in Italy, 2.0% in Greece, 1.8% in Spain, 1.4% in Switzerland, 1.2% in France, 0.9% in Germany, and 0.7% in Great Britain. A higher stock market open is indicated in the United States. Overnight results in the Pacific Rim were mixed, with stocks rising 0.7% in South Korea […] More

An FOMC Announcement and Lots of Data Releases

May 2, 2018

In this second day of the third FOMC policy review of 2018, a statement will be released at 14:00 EDT (18:00 GMT). No rate changed is expected, and no subsequent press conference is scheduled. The fed funds target was last raised at the prior March 21-22 meeting. In light of further evidence of rising inflation, […] More

Snow, Dollar, Stocks and Bonds Falling on Easter Monday

April 2, 2018

A rare April snow storm is hitting the U.S. Northeast. Market volume even without the snow would have been thin because of numerous Easter Monday closures, for instance in Australia, New Zealand, Spain, Switzerland, Great Britain, Germany, Spain, Norway and Hong Kong. South Africa is observing Family Day. As a new calendar quarter kicks off, […] More

Swoon of Stocks Continues Amid More Released Data and Ahead of Round 2 of the Powell Testimony

March 1, 2018

The newly minted Fed Chairman Jerome Powell will reprise his congressional Humphrey-Hawkins testimony at 10:00 EST, this time before the Senate Banking Committee. In the past two sessions since he testified before the House Financial Services Committee, the S&P and DOW dropped by 2.2% and 2.6%. Stocks overnight slumped 1.6% in Japan, 0.7% in Australia, […] More

Mixed Dollar as Investors Eye Both Data and U.S. Political Developments

December 1, 2017

The dollar tumbled 1.2% against its Canadian counterpart and also lost 0.4% relative to the Australian and New Zealand dollars. Balancing these losses were gains of 0.4% relative to sterling, 0.3% versus the euro and Swissie, 0.2% vis-a-vis the yen and peso and 0.1% against the yuan. A net 79.5K jobs were created last month […] More

Stocks and Commodities Up, Manufacturing PMIs Out, and FOMC Announcement on Tap

November 1, 2017

On this All Saints Day, the dollar rose 0.5% to a 6-month high against the yen and also posted advances of 0.4% against the Swiss franc while moving above par and 0.3% relative to the euro. The dollar is steady against the loonie, peso and sterling but has fallen 0.7% relative to the kiwi and […] More

Factory PMIs Released and High Hopes Regarding U.S. Jobs Report

September 1, 2017

Narrow net changes in the dollar (+/- 0.2%) characterize most key relationships. A 0.5% rise of the yuan is an exception. Solid gains in European stocks can be seen, including 0.9% in France, 0.8% in Germany, 0.6% in Italy and 0.3% in Great Britain. Indian, Chinese and Japanese stock markets rose by 0.7%, 0.2% and […] More

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