U.S. CPI
Some Fresh Developments
September 14, 2017
The Bank of England’s Monetary Policy Committee did not change interest rates or asset purchase parameters but signaled a growing probability of a rate increase within a couple of months. In response, sterling rose 0.8% against the dollar, the 10-year British gilt yield climbed three basis points to 1.17%, and the Ftse stock index declined […] More
Cross-Currents: U.S./Asian Political Tensions Versus Continuing Low U.S. Inflation
August 11, 2017
Concerns about a U.S./North Korean war continue to weigh on investor minds, but lower-than-forecast U.S. CPI data for July kept U.S. stocks stable and at the open following Thursday’s sell-off. Trump declared America’s military options “locked and loaded” in the event that North Korea fires a missile near Guam. U.S. total consumer prices ticked up […] More
Broad Financial Market Adjustments Intensify in Wake of FOMC Meeting
December 15, 2016
The dollar gained overnight by another 2.0% against the Australian dollar, 1.5% versus the euro, 1.6% vis-a-vis the kiwi, 1.2% relative to the yen, 0.9% against sterling, and 0.6% versus the yuan. Key levels are being approached such as parity with the euro, 120 yen, and 7 renminbi. Throughout the 8-year Obama stewardship, Republicans fought […] More
Upbeat Chinese and U.S. Data Overshadow the Terrorist Attack in Nice
July 15, 2016
Chinese GDP, retail sales, and industrial production exceeded analyst expectations and suggest that economy’s slowdown is leveling off. Real GDP growth accelerated to a quarter-on-quarter increase of 1.8% in the second quarter, keeping on-year growth steady at 6.7% instead of slowing further as analysts were expecting. Industrial production posted a 6.2% on-year advance in June […] More
Intensifying Risk Aversion
January 20, 2016
Share prices closed down 4.1% in Hong Kong, 3.7% (or 632 points) in Japan, 3.0% in Singapore, 2.3% in South Korea, 2.0% in Taiwan, 1.7% in India, 1.5% in China, 1.4% in Indonesia and 1.3% in Australia. Equity declines today in Europe so far amount to 6.8% in Greece, 3.2% in France, 3.1% in Switzerland, […] More
Markets Anticipating a Fed Rate Hike Wednesday With Confidence
December 15, 2015
Today is the first day of a landmark FOMC meeting. A policy announcement will be made Wednesday at 14:00 EST (19:00 GMT) followed by a Yellen press conference to start tomorrow at 14:30 EST. European share prices are up over 3.0% in Germany, France, Italy, and Spain. They have rallied 2% in the U.K. and […] More
China Stocks Up, OECD Growth Forecasts Revised, and U.S. and Eurozone CPI Data Released
September 16, 2015
A 5% jump in China’s stock market led equities higher overnight, with other gains amounting to 2.3% in Hong Kong, 2.0% in South Korea, 1.6% in Australia, 1.0% in India, 0.8% in Japan, 0.9% in Taiwan, and so far 1.5% in Spain, 1.0% in Italy, 2.1% in Greece, 0.7% in Germany, 0.8% in Switzerland, and […] More
Benign Data and Market Action
August 19, 2015
The dollar did not change on balance overnight against the euro or sterling. Other changes were mute, too, including a 0.1% uptick versus the yen. Share prices are mostly softer. Ten-year sovereign debt yields are unchanged in the U.S., Germany, Japan and Britain. WTI oil slipped 0.8% to $42.30 per barrel. Comex gold firmed 0.4% […] More
Lingering Doubts about the Greek Deal and China’s Economic Prognosis
July 17, 2015
Greek banks will reopen next Monday. A number of European parliaments, including the Germany Bundestag, are presumed likely to vote today on approving a third bailout, this time of EUR 86 billion. All eurozone members must agree on this for the deal to pass. Finland has already done so. Despite this progress, grave doubt continues […] More
Memorial Day Weekend Finds Spotlight on BOJ, China and Germany
May 22, 2015
U.S. markets will be closing early ahead of the Memorial Day Weekend. The dollar strengthened overnight by 0.8% against the euro and Aussie dollar, 0.7% relative to the Swiss franc and loonie, and 0.2% vis-a-vis the yen and sterling. The kiwi is unchanged. West Texas Intermediate oil fell back under the $60 threshold to $59.82 […] More
