U.S. durable goods orders
Worried but Bottom-Fishing After a String of Down Weeks
February 27, 2023
Bearish European reported today didn’t deter investors from testing the upside potential of share prices. European stock markets prior to the U.S. open were up by 0.7% in the U.K. and 1.4-1.9% in Germany, France, Italy and Spain. U.S. equity futures show more modest gains, and stock markets in the Pacific Rim closed down this […] More
Rundown of Tuesday U.S. Data Releases
September 27, 2022
Home price inflation decelerated in July to a 15-month low of 16.1% according to the Case-Shiller index and to a 17-month low of 13.9% meaured by the FHFA index. The Dallas Fed manufacturing survey index weakened 4.3 points to a 2-month low of -17.2 in September, but the Richmond Fed manufacturing index recovered eight index […] More
Continuing Dollar Uptrend
August 24, 2022
Investors remain focused on the Federal Reserve’s annual symposium at Jackson Hole, Wyoming, which starts tomorrow. This coming event has put the theme of tightening monetary policy into the spotlight. The Fed has been at the forefront of the fight against inflation, and the dollar continues to be well-bid, rising another 0.5% overnight against its […] More
Covid and Ukraine War Remain in the Spotlight
April 26, 2022
The uncertain evolutions of the war in Ukraine, Covid-19 pandemic and central bank interest rates are perpetuating erratic financial market movements. Stock markets are behaving diversely today, with drops of 1.4% in China, 2.1% in Australia, 0.8% in New Zealand and around 0.5% in U.S. futures countering gains of 1.4% in India, 0.4% in Japan […] More
Further Recovery in Risk Appetite Ahead of Holiday
December 23, 2021
Most major markets, but not Japan’s, will be closed partially or fully tomorrow for Christmas Eve. As a result, some data were released earlier than normal today. Covid developments today were constructive on the whole. Although new cases continue to crest on the Omicron wave, the latest variant doesn’t appear to be as lethal as […] More
China Remains in the Spotlight
July 27, 2021
The Shanghai Composite equity index fell 2.3% on Monday and another 2.5% on Tuesday reflecting the deteriorating relationship between the Chinese and U.S. governments and investor fears over intensifying Sino regulations constricting the business activities of foreign companies. Hong Kong’s Hang Seng index has taken an even bigger blow, dropping 1.5% last Friday, 4.1% yesterday […] More
Dollar Rises After ECB Expresses Concern about Euro Strength and Ahead of FOMC Announcement Later Today
January 27, 2021
In a speech Klass Knot, President of the Netherlands central bank and therefore an ECB Governing Council member, has protested against the euro’s recent rise and warned that central bankers will respond if appreciation appears to jeopardize the goal of lifting inflation back to its target. Compared to Tuesday closing levels, the dollar rallied 0.4% […] More
Investors Take a Deep Breath but Yesterday’s Concerns Persist
October 27, 2020
U.S. stocks suffered through their most difficult day in two months yesterday, but futures point to a higher open on Tuesday. The dissipation of extreme risk aversion has been predictably accompanied by modest dollar deprecation today. The greenback slid overnight by 0.4% against the kiwi, 0.3% versus sterling and the loonie, 0.2% vis-a-vis the euro […] More
Marking Time Amid an Eclectic Assortment of Data Reports
August 26, 2020
There’s been no dominant market theme Wednesday. Investors await the virtual Jackson Hole central banker symposium that kicks off tomorrow with a widely awaited speech from Fed Chairman Powell. The RNC provided more red meat to the pro-Trump faithful on its second night. Optimism persists that the United States and China will avoid all-out trade […] More
Dollar Falters Further and Price of Gold Blows Past its Historic High
July 27, 2020
The dollar weakened to a 22-month trade-weighted low overnight, with losses of 1.0% against the Swiss franc, 0.7% relative to sterling and the euro, 0.8% versus the peso, 0.6% vis-a-vis the yen, kiwi and Australian dollar, and 0.3% against the loonie. The Covid pandemic intensified over the weekend both globally and in the United States, […] More
