U.S. GDP

Comment on Revised U.S. GDP Figures

June 29, 2017

According to revised figures, real GDP expanded 1.4% at an annualized rate between the last quarter of 2016 and the first quarter of 2017. The initial estimate of 0.7% was revised a month ago to 1.2%. Personal consumption (up 1.1% annualized), non-residential business investment (10.4%) and residential construction (13.0%) collectively augmented real GDP growth by […] More

Flood of Data on Final Business Day of April

April 28, 2017

The dollar is mixed, with declines of 0.6% against the euro, 0.3% relative to the peso and Swiss franc and 0.2% vis-a-vis sterling but gains of 0.3% versus the yen, 0.2% against the kiwi and 0.1% relative to the loonie. The Aussie dollar and Chinese yuan are unchanged. Stocks are generally lower. The German bund […] More

Monthend Data But Little Market Change Ahead of Tonight’s Speech by President Trump

February 28, 2017

The dollar is unchanged against the euro, yuan and peso, down 0.4% against the yen, but up 0.4% relative to the Swiss franc. The greenback edged up 0.2% versus the loonie and sterling and 0.1% vis-a-vis the Australian dollar. Stocks in the Pacific Rim closed up 0.4% in China, 0.3% in South Korea and 0.1% […] More

A Week to Remember

January 27, 2017

It’s been a memorable first week of the Trump presidency. He will be meeting today with British Prime Minister Theresa May, who hopes to make giant strides in securing a bilateral trade accord between the two countries. Mexican President Nieto cancelled his trip to Washington amid mounting tensions over immigration, trade, and who pays for […] More

Softer Dollar but Firmer Oil Price

December 22, 2016

On this last full session before the Christmas break, the dollar fell 0.5% against the euro and 0.4% relative to the Swiss franc. Dollar/yen is steady and the dollar has strengthened against sterling, the Aussie and Canadian dollars, and Mexican peso. West Texas Intermediate crude oil advanced 1.1% to $53.07 per barrel following news of […] More

Many Data Releases and a Drop in Oil

November 29, 2016

With Wednesday’s OPEC meeting in Vienna looming, WTI oil slumped 3.6% to $45.38 per barrel. No deal to control production has emerged so far. Gold and industrial metal prices are lower, too. The dollar weakened overnight by 0.7% against sterling and the kiwi and also dipped 0.2% against the yuan and 0.1% versus the euro. […] More

Nervous Market Undertone

October 28, 2016

With the fast-approaching monthend, the usual heavy flow of data releases is being digested. Investors are in a guarded mood with just over a week left before the U.S. election. The Fed is widely expected to raise interest rates soon. The BOJ, meeting Monday and Tuesday is not expected to modify its stance. The first […] More

Plenty of Disappointment to Go Around

July 29, 2016

Second quarter U.S. GDP growth of 1.2% was only about half as much as forecast, due mainly to a big drag from inventories. Canadian GDP sank 0.6% in May as industrial production there plunged 3.7% on month. The Bank of Japan produced less stimulus than hoped, limiting its action to an increase of EFT buying […] More

Comment on U.S. GDP Growth and Trade Protectionism

June 29, 2016

The second and final revision of U.S. growth between the final quarter of 2015 and the first one of 2016, released yesterday, was revised upward by 0.3 percentage points to 1.1% at a seasonally adjusted annualized rate (saar).  The initial growth estimate reported in late April had been 0.5% saar.   Commentary surrounding the report […] More

Investors Shocked by BOJ’s Decision Not to Ease Policy Further

April 28, 2016

The yen climbed 2.6% against both the dollar and euro, the Japanese Nikkei plunged 3.6%, and the 10-year JGB yield fell 3 basis points to -0.09%. The dollar otherwise fell 1.2% against the kiwi and is down 0.3% relative to the loonie, Swissie, yuan, Aussie dollar and sterling.  EUR/USD is flat. In other equity news, […] More

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