PMIs
Steady Dollar as Ezone CPI Report Reinforces Need for ECB Easing
June 3, 2014
The dollar is unchanged against the yen, kiwi and sterling, up by 0.2% versus the loonie and 0.1% relative to the yuan, and down 0.1% overnight relative to the euro, Swiss franc and Australian dollar. Share prices climbed 0.7% in Japan and India, 0.9% in Hong Kong, 0.6% in Indonesia, 0.5% in Taiwan, and 0.3% […] More
Several Preliminary Purchasing Manager Surveys Support Cautious Optimism
May 22, 2014
Late Wednesday, investors were heartened by the dovish tone of the FOMC minutes. News that China’s HSBC-compiled purchasing managers index for manufacturing had risen 1.6 points to a 5-month high of 49.7 provided another upbeat impulse to the mood. In other PMI news, Japan’s factory PMI rose 0.5 points to a 2-month high of 49.9. […] More
No Kidding Around: Many PMIs, Japan’s Tankan, and Interest Rate Decisions in Australia and India
April 1, 2014
Currency markets have hardly reacted to a ton of data on this April Fool’s Day. The dollar has edged 0.1% higher against the yen, loonie, sterling and Australian dollar and 0.1% lower versus the euro, Swiss franc and yuan. The Australian dollar is down 0.4% after the RBA’s announcement of an unchanged 2.5% Official Cash […] More
Significant Day for Data Releases
December 4, 2013
The dollar climbed against commodity-sensitive currencies, gaining 1.2% against the Aussie dollar, 0.5% versus the kiwi and 0.1% relative to the loonie. Opec oil ministers meeting in Vienna hope to leave production quotas unchanged in an effort to keep price stable and near $100 per barrel. WTI oil advanced 1.3% overnight to $97.25 per barrel. […] More
Data Surprises – Both Good and Bad
July 24, 2013
Euroland preliminary PMI results were better than hoped. The composite Ezone PMI of 50.4 broke above the 50 no change threshold to an 18-month high. Manufacturing at 50.1 was at a 24-month peak, while services at 49.6 was at an 18-month high and reinforced a picture that the recession seems to be bottoming. Germany’s 52.8 […] More
Equities Hit by New European Concerns
July 3, 2013
Portugal’s foreign minister, and the head of the center-right coalition partner, resigned. The root cause is an old theme, mounting intolerance to relentless and unworkable austerity. Portuguese and Greek sovereign debt under new pressure. The political mess in Egypt where PM Morsi refuses to step down also is promoting a risk-off atmosphere. Share prices slumped […] More
Hot Fun in the Summertime: Good Data Reported in Japan and Europe
July 1, 2013
The Bank of Japan’s quarterly corporate survey revealed a 12-point advance to +4 in the diffusion index for large manufacturers, a 6-point increase to +12 in the index for large non-manufacturers, and sharp upwardly revised investment plans for the present fiscal year. France, Italy, Spain, the Netherlands, Ireland, Austria, and Greece reported higher purchasing manager […] More
Disastrous Day for Share Prices in Asia and Europe
May 23, 2013
Japan’s Nikkei-225 index plunged 7.3%, the most for any single session since March 15, 2011 and the second greatest daily drop since October 24, 2008. Elsewhere in the Pacific Rim, stocks fell by 2.5% in Hong Kong, 2.0% in Australia, 1.9% in Taiwan and India, 1.8% in Singapore, 1.7% in Indonesia, 1.3% in China, 1.2% […] More
Weaker Aussie Dollar on Rate Cut Speculation
May 6, 2013
The U.S. currency has climbed 0.7% against the Aussie dollar but is otherwise fairly stable relative to Friday closing levels. Australian retail sales fell 0.4% in March. It was the first decline since December. Australian job ads dropped 1.3% in April, more than twice as fast as the 0.5% decrease in March. The MI-TD gauge […] More
Whipsawed by Fed, ECB, and Then U.S. Labor Statistics
May 3, 2013
It’s been a week full of surprises but ultimately accentuating Europe’s relatively dismal outlook. The Fed on Wednesday left its policy guidance unchanged and affirmed the data-driven algorithms that will dictate future decisions. While the ADP private jobs estimate that day was disappointing, new jobless insurance claims out Thursday of 324K, a 5-year low, and […] More
