Trump

U.S. Jobs Day, G-20 Summit Begins, and BOJ Policy Becomes More Differentiated

July 7, 2017

Investors await the monthly U.S. Labor Dept jobs data due at 12:30 GMT. In the meantime, industrial production figures were released for Germany, France, Great Britain, Spain, Denmark, and the Czech Republic. Other data releases of interest have been Japanese and Chinese reserves, Japan’s index of leading economic indicators, the French current account, and British […] More

Investors Remain Very Risk Averse and Driven by Politics, Not Data

May 18, 2017

Sovereign debt yields continue to fall. In futures, the 10-year Treasury yield of 2.19% is down four more basis points and shows a 22-basis point plunge since the May 10th close. Comparable German bund and British gilt yields fell six and 3 basis points thus far today. The Japanese JGB is unchanged after data showing […] More

Softer Pound

May 11, 2017

Sterling fell 0.4% against the dollar overnight. The ten-year British gilt yield has firmed two basis points, and the Ftse is little changed. The Bank of England left policy unchanged but suggesting greater monetary policy tightening during the forecast period than is implied in market interest rates. Several British economic statistics were reported. Similar to […] 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

Dollar Bounces Higher

January 26, 2017

The dollar recovered 0.8% overnight against the yen and and is up 0.4% relative to the Canadian, Australian and New Zealand dollars. The greenback rose 0.2% versus the euro but slipped 0.2% against the Swissie. The yuan is unchanged, and the Mexican peso rebounded 0.3% as President Nieto said his country will not pay for […] More

Dollar Up ahead of Trump’s First Press Conference

January 11, 2017

The dollar appreciated overnight by 0.5% against the euro, 0.4% versus the yen, Swissie and sterling, 0.2% relative to the Mexican peso, and 0.1% relative to the yuan. It dipped 0.1% vis-a-vis the New Zealand and Australian currencies but extended its rise against the Turkish lira by about 2%. The juxtaposition of Obama’s Farewell Address […] More

Dollar Drops Against Yen, Yuan and Peso

January 5, 2017

The dollar fell overnight by 1.3% against the Mexican peso, 0.7% relative to the Japanese yen and 0.6% vis-a-vis the Chinese yuan. The U.S. currency also lost 0.2% to the Swiss franc and 0.1% versus the euro, loonie and Australian dollar but rose 0.3% against sterling and 0.1% relative to the kiwi. Share prices climbed […] More

More Surprises

January 3, 2017

German inflation accelerated sharply in December. The Chinese manufacturing purchasing managers index compiled by Caixin rose a full point to a 47-month high of 51.9 in December. The production subindex reached its best level since January 2011. A Kuwaiti decision to reduce oil production sent WTI crude up 2.1% to $54.87 per barrel, highest since […] More

Solidarity of Oil Producers Lifts Oil Prices by More Than 4.0%

December 12, 2016

The price of West Texas Intermediate crude oil leaped 4.2% to $53.68 per barrel. At a meeting on Saturday, the Saudis showed a readiness to cut production even more than agreed previously, and non-cartel producers are supporting the effort to reduce global output and lift the price of oil. This oil news has reinforced the […] More

Euroland Stocks Rally and Oil Retreats Further

December 7, 2016

The ECB Governing Council, which meets tomorrow and is scheduled to release new forecasts, is widely expected to unveil an extension of planned asset purchases beyond March 2017, the current termination date of the program. Stock markets are up today in Europe by 2.9% in Greece, 1.6% in Germany, 1.5% in the U.K., 1.8% in […] More

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