U.S. GDP

Dollar Marking Time Ahead of G-20 Summit

June 27, 2019

There’s been little changeĀ  in the dollar, price of oil, or European equities overnight. The Group of Twenty summit in Osaka starts tomorrow. EU leaders will try again to pick the next ECB president by next week. Ten-year sovereign debt yields dipped a basis point in the United States, Germany and Japan. Asian stock markets […] More

Several Japanese Data Reported but Investors Marking Time Ahead of U.S. Figures

April 26, 2019

Shortly before the first release of U.S. first-quarter GDP, the dollar showed no net overnight change against the euro, loonie or sterling. There were 0.1% upticks relative to the yen, Swiss franc and peso, a 0.1% downtick vis-a-vis the yuan and drops of 0.5% against the kiwi and 0.3% versus the Australian dollar. European share […] More

U.S. GDP

February 28, 2019

U.S. real GDP expanded 2.6% at a seasonally adjusted annual rate last quarter, down from 3.4% in 3Q and 4.2% in the second quarter of 2018. Personal consumption and nonresidential investment accounted for all of the rise. Residential construction recorded a fourth straight contraction. Net exports exerted a smaller drag of 0.2 percentage points. Inventories […] More

No Deal Between U.S. and North Korea and a Whole Lot of Data Released

February 28, 2019

The summit between U.S. President Trump and North Korean President Kim ended prematurely without an agreement. Share prices in Asia lost 1.8% in South Korea, 1.3% in Indonesia, 1.2% in Singapore, 0.9% in Hong Kong, 0.8% in Japan but only 0.4% in China. In Europe, there’s been scant net movement in the German Dax or […] More

Dollar Stages Moderate Rebound

December 21, 2018

Broad dollar gains overnight amount to 0.6% against the kiwi, 0.4% relative to the loonie and euro, 0.3% vis-a-vis the peso, Swiss franc, and yuan, 0.2% versus the Australian dollar and 0.1% relative to sterling. Dollar/yen is unbalanced. In the continuing follies that markets have come to expect from the U.S. government, Defense Secretary Mattis […] More

Awaiting Jay Powell’s Speech

November 28, 2018

Fed Chairman Powell delivers a speech before the economic club of NY later today. Such is attracting evenĀ  more interest than might be expected because President Trump has just escalated his criticism of Powell, calling him a bigger problem than China. In other news today, U.S. GDP growth last quarter was confirmed at 3.5%, the […] More

U.S. GDP Report Deconstructed

October 26, 2018

Good News: Real GDP expanded by a somewhat greater-than-expected 3.5% between 2Q and 3Q, expressed at an annualized rate (SAAR). The two-quarter pace of 3.8% was the fastest since the middle two quarters of 2014, when a 5.0% pace was achieved. On-year growth of 3.0% was the most in 13 quarters and just 0.8 percentage […] More

Fresh Wave of Risk Aversion

October 26, 2018

Investors will get their first peak at U.S. third-quarter GDP in less than an hour. Growth likely decelerated from the 4.2% pace in the second quarter but still probably managed to be at 3.0% or a bit above. But markets are reacting most keenly to the Federal Reserve officials’ disregard of President Trump’s criticism of […] More

All Eyes on the Senate Judiciary Committee

September 27, 2018

The testimonies of Kavanaugh and Blassey Ford start at 10:00 EDT (14:00 GMT). This has been a busy day already from a central banking and data release standpoint. The dollar overnight firmed by 0.7% against the Swiss franc, 0.6% relative to the Aussie dollar, 0.5% vis-a-vis the euro and loonie, 0.3% against the kiwi, 0.2% […] More

Some weak European and Japanese Data

August 29, 2018

French GDP growth slowed to a 0.2% per quarter rate in the first half of 2018 from 0.7% per quarter in the second half of 2017. In the second quarter alone, personal consumption contracted for the first time since the summer of 2016. Imports advanced five times faster than exports, and net foreign demand exerted […] More

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