U.S. retail sales
And the Dollar Downbeat Goes On
September 16, 2020
FOMC Day in America finds the dollar struggling to tread water. The U.S. currency slipped further to a 16-month low against the Chinese yuan and a 7-week low relative to the yen and is hovering near a 5-year low against the Swiss franc and a 2-1/2 year low against the euro. Overnight losses in the […] More
Pessimism Gaining Upper Hand in Financial Marketplace
April 15, 2020
Projected contractions in real GDP this year embodied in the IMF’s World Economic Outlook would make this the weakest calendar year economic performance since the early 1930s. The Washington-based group foresees activity falling by 3.0% in the world, 5.9% in the United States, 7.5% in Euroland, 6.5% in the U.K., 6.2% in Canada, and 5.2% […] More
Greater Pessimism Surrounding Brexit, U.S.-China, and Global Growth
October 16, 2019
Investor confidence regarding the main geopolitical risks of Brexit and U.S.-Sino trade continue to flip-flop seemingly on a daily basis, often without any concrete new actions. Still no deal on Brexit has been announced with the main sticking point being the handling of Northern Ireland’s border with Ireland, and time is getting exceedingly short. Trade […] More
A Fresh Worry: Chinese Growth Slowed Last Month
May 15, 2019
Asian stock markets had taken the North America upward cue, posting gains on Wednesday of 1.9% in China, 0.6% in Japan and Hong Kong, 0.4% in Taiwan, and 0.5% in South Korea but that was before news of soft Chinese industrial production, retail sales, and business investment. In European trading, stocks are down 1.0% in […] More
Released Data in the Spotlight
February 14, 2019
Thursday figured to be a day of data watching with the scheduled release of both Euroland and Japanese GDP figures, plus China’s trade balance. But it was much weaker-than-anticipated U.S. retail sales in December that caught the market’s attention, giving greater credence to recent warnings from several economists that U.S. recessionary risks seem to be […] More
Down Goes the British Pound
November 15, 2018
With British Prime Minister Theresa May facing a vote of no confidence and several of her cabinet ministers resigning in protest against her Brexit deal, sterling slumped 1.5% overnight against both the dollar and euro. Weak British retail sales data were also released today, showing an unexpected 0.5% on-month drop in total sales (+2.2% on […] More
Dollar Eases a Tad In Spite of Divergent Reported Data
July 16, 2018
The dollar declined 0.6% against the peso, 0.4% versus the Swiss franc, 0.2% relative to the euro, kiwi, loonie and sterling, and 0.1% vis-a-vis the yuan and Australian dollar. With Japanese markets closed for Marine Day, the dollar remained unchanged against the yen. Stocks in the Pacific Rim declined 0.9% in Singapore, 0.7% in Indonesia, […] More
Many Central Bank Decisions and Released Data for Markets to Digest
December 14, 2017
The People’s Bank of China raised short-term interest rates by 5 basis points. The modest tightening was the first in nine months and painted as a response to the Fed’s rate hike on Wednesday. The ECB Governing Council left its interest rate structure unchanged. This includes a negative 0.40% overnight deposit rate. Officials reiterated that […] More
Reduced Fear of Korean War
August 15, 2017
Today is the 72nd anniversary of Korea’s liberation from Japan, and markets there are closed. Reported remarks by the leaders of both Korean nations dispelled fear of an imminent resumption of war. Markets were also closed today in India for a holiday commemorating the 70th anniversary if independence and Italy for Assumption Day. The dollar […] More
Post-Election Market Moves Trimmed a Bit
November 15, 2016
Sovereign debt yields and the dollar eased this Tuesday, one week after the U.S. election. Oil and gold rebounded. Stocks are mixed. Euroland GDP, British consumer prices, and Reserve Bank of Australia minutes were released. The German ZEW Institute’s monthly index of investor sentiment reflected a drop after the U.S. election. One Fed official, Lacker, […] More
