Xi Jinping
Two Games of Chicken and an Uncertain U.S. Election Unnerving Investors
November 5, 2018
Chinese President Xi Jinping did not budge from his previous posture on trade, throwing cold water on U.S. President Trump’s pre-weekend comments that much progress had been made to defuse the trade war. In response, equity markets in the Pacific Rim slumped today by 1.8% in Hong Kong and Singapore, 1.6% in Japan, 0.9% in […] More
Sterling Rebounds and Streak Ends of Higher Daily Closes in Japan’s Stock Market
October 25, 2017
Sterling rose 0.9% overnight, buoyed by stronger-than-forecast third-quarter GDP growth. Xi Jinping introduced the new Chinese Politboro, all with similar ages to himself, and in so doing failed to signal an apparent successor in 2022. He is now China’s most powerful leader since Mao. Japan’s Nikkei closed down 0.5%. That was the first daily loss […] More
Dollar Climbs Further
October 18, 2017
The dollar was buoyed by negative European factors (Catalonia, Brexit and a weak construction output report) and expectations of a widening U.S. interest rate premium. Yellen is generally expected not to be reappointed as Fed Chair, and that suggests a steeper incline in the federal funds target especially if U.S. tax reform is enacted. The […] More
Yen at Six-Month Low; Euroland GDP Fell Modestly in 3Q
November 15, 2012
A lot of European data were released, but today’s main currency movement belongs to the yen. Dollar/yen rose 1.1% to a 6-month high of 81.16. The greenback rose 0.4% against the Aussie dollar but slipped 0.2% relative to the euro, Swiss franc, and loonie. Sterling is unchanged, and China’s yuan is softer. Stocks in the […] More
Some Tellingly Soggy Data Results
November 14, 2012
Industrial production in the euro area slumped 2.5% on month in September. Output was 1.3% than the average 3Q12 level and 2.3% weaker than a year earlier. British labor statistics suggest more softness. The claimant unemployment count jumped 10.1K in October, its biggest monthly rise in 13 months. Average weekly earnings growth in 3Q of […] More
