Manufacturing PMIs

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

Ton of Data Depresses Sovereign Debt Yields

August 1, 2017

Released U.S. economic indicators today were lower than forecast. The Institute of Supply Management’s manufacturing purchasing managers index dropped 1.5 points to a 2-month low of 56.3, which still implies pretty solid activity. Construction spending sank 1.3% in June. The main disappointment was delivered by personal income and spending. Income stagnated instead of rising about […] More

Many PMI Reports on First Business Day of the Third Quarter

July 3, 2017

Markets this Monday are reacting to many cross-currents. The dollar has appreciated 0.3-0.5% against the yen, euro, Swissie, sterling, and Australian and and New Zealand currencies. It has risen more slightly versus the peso, yuan and loonie. Aside from declines in Australia of 0.7% and New Zealand of 0.4%, equities are mostly higher. Indonesia’s bourse, […] More

Yen Weakens to a Six-Week Low

May 2, 2017

The yen is down 0.3% on balance after touching an overnight low of 112.32 per dollar, its weakest value since March 21. Japan’s services purchasing managers index and composite PMI slipped to 2-month lows of 52.2 and 52.6 in April from 19-month peaks set in March. On-year growth in Japan’s monetary base slid under 20% […] More

Japanese Tankan and a Slew of Manufacturing PMIs Reported

April 3, 2017

The dollar gained over 1% further against the South African Rand and rose 0.6% overnight versus the kiwi. Other dollar advances thus far today amount to 0.4% relative to the loonie, 0.2% vis-a-vis sterling, and 0.1% against the euro, peso and Swiss franc. China is closed for the Ching Ming Festival and will remain shut […] More

U.S. Monetary Tightening Fever Lifts Dollar, Stocks and Sovereign Debt Yields

March 1, 2017

Last night’s speech by President Trump did no harm but lacked the details that investors were hoping to learn. No more is known about what will replace the Affordable Care Act, or how increased government spending will be financed. Trump was less contentious, but any relief could quickly dissipate today after the new immigration policy […] More

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