U.S. current account

Mixed Signals this Friday

September 18, 2020

China’s Shanghai Composite equity index jumped 2.1%, but share prices fell 1.4% in New Zealand and 0.3% in Australia and India. Japan’s Nikkei rose only 0.2%, and Spanish stocks have so far dropped 1.2% on the day. The dollar climbed to another record high against the Turkish lira and shows a year-to-date advance of more […] More

Good Trade News but Unsettling Covid Developments

June 19, 2020

Share prices got a boost from an overnight report that China will step up purchases of U.S. agricultural goods. This comes after Thursday’s revelation in the Bolton tell-all book that Trump had solicited a boost in Chinese purchases to voter reelection support from the mid-west. Several populous U.S. states like California, Florida, and Texas continue […] More

Bracing for Impact But Investors Take a Pause

March 19, 2020

The count of identified global coronavirus infections (230,041) and deaths (9,386) has risen by 26,429 and 1,097 in the past 26 hours. Investors are getting a glimpse of just how bad the economic impact could be. The IFO Institute’s monthly index of Germany’s business climate fell 8.3 points in March to a 127-month low of […] More

Thursday Rundown of Overnight News, Data Reports, and Central Bank Decisions

December 19, 2019

President Trump has been impeached by a House of Representatives partisan vote of 229-197. He will get a trial in the senate. Market movements today are mostly unremarkable. Sovereign debt yields are up. Equities are down a bit in Europe but started on an up note in the United States. New Zealand’s stock market rallied […] More

Eight More Central Bank Meetings, a U.S. Current Account Report, and Downgraded Global Growth

September 19, 2019

Dollar movement overnight was mixed, with gains against the Australian dollar, kiwi, sterling, and yuan but losses relative to the yen, Swiss franc, euro, loonie and peso. The 10-year U.S. Treasury and Japanese JGB yields fell three basis points. Their German and British counterparts are respective a basis point higher and a basis point lower. […] More

Dollar Down on a Perfect Storm of Tensions Fraught with Uncertainty

June 20, 2019

The dollar lost 0.6-0.9% overnight against the euro, Swiss franc, loonie, yuan, kiwi, Australian dollar and Mexican peso. The greenback also has fallen 0.4% relative to the yen and 0.3% vis-a-vis sterling. The list of unknowns keeps lengthening. Iran shot down a U.S. surveillance drone, seemingly bringing another Middle East war closer. From Fed Chairman […] More

Dollar Softer Ahead of FOMC Decision and After U.S. Current Account Release

December 19, 2018

Despite weaker data and pressure from Trump, the Federal Open Market Committee is expected to announce the fourth rate hike of 2018 later today but to couch such within more accommodative forward guidance regarding likely policy in 2019. The U.S. current account deficit jumped to $124.8 billion in the third quarter from $101.2 billion in […] More

Released Current Account Data and Some Central Bank Decisions

September 19, 2018

The dollar is steady to mostly softer. North America’s stock market rally on Tuesday carried over into Asia and Europe. The ten-year British gilt yield edged up 2 basis points, and gold firmed 0.4%. Oil is steady, as are German bunds and Japanese JGBs. New Zealand recorded a larger-than-forecast NZD 1.619 billion current account deficit […] More

Calmer Waters

June 20, 2018

Share prices recovered 1.2% in Japan and Australia, 1.0% in South Korea, 0.7% in India, 0.4% in Hong Kong and 0.3% in China. U.S. and European equities have rebounded more moderately. The spin on a possible trade war is that the harsh rhetoric from officials in the U.S. and China is just threat to secure […] More

U.S. Balance of Payments and the Dollar

March 21, 2018

The dollar did not perform as weakly in the fourth quarter as it did earlier in 2017. Between end-2016 and end-2017, the U.S. currency lost 12.3% against the euro, 8.7% relative to the pound, 7.6% versus the Aussie dollar, 6.5% versus the loonie, 6.3% vis-a-vis the yuan, 4.3% against the Swiss franc, and 2.0% versus […] More

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