Foreign Exchange Insights and Next Week
Next Week
December 31, 2015
Purchasing Managers Surveys: A slew of PMIs will be released during the first week of 2016. The largest number cover manufacturing, but others will cover service sector activity, construction, and eurozone retail. Involved economies include the U.S., Japan, China, Euroland, South Korea, Taiwan, Vietnam, Malaysia, India, Indonesia, Poland, Ireland, The Netherlands, Turkey, Italy, the Czech […] More
New Overnight Developments Abroad - Daily Update
Aussie Dollar Touches Three-Week High on Final Day of 2015
December 31, 2015
Many stock exchanges were closed for the yearend holiday, for instance those in Japan, Germany, Italy, Switzerland, Australia, New Zealand, Indonesia and Singapore. Share prices fell 0.9% in China and Spain and 0.3% in France but firmed 0.7% in Taiwan, 0.3% in Hong Kong, 0.2% in India and 0.1% in the U.K.. West Texas Intermediate […] More
New Overnight Developments Abroad - Daily Update
Waning Days of 2015
December 30, 2015
There’s not much to report on this penultimate day of the year. In market action around the world, Overnight changes in the dollar include gains of 0.2% against the loonie and kiwi, a 0.1% uptick versus sterling and the yuan and a 0.1% dip relative to the Swiss franc. The U.S. currency is unchanged against […] More
Deeper Analysis
U.S. Trade Deficit Contained by Plunging Price of OPEC Oil
December 29, 2015
The census-basis U.S. merchandise trade deficit of $614.2 billion accrued over the first ten months of 2015 was an insignificant $3.45 billion wider than the year-earlier shortfall. However, that trivial change masks huge shifts in the distribution of deficit across foreign markets. Trade with OPEC swung to a $4.35 billion surplus from a $47.8 billion […] More
New Overnight Developments Abroad - Daily Update
Euro Resistance Near $1.1000 Continuing
December 29, 2015
The dollar is unchanged against the euro, Swiss franc, Chinese renminbi, and Japanese yen. The euro’s uptrend has met repeated resistance around $1.097. Spain’s unsettled political outlook has been a depressant. The greenback is 0.2% firmer against the loonie and sterling but 0.3% softer relative to the Australian and New Zealand currencies. Following a 2.0%plus […] More
Foreign Exchange Insights and Next Week
Brief Note on Yearend Seasonality of the EUR/USD
December 28, 2015
Between mid-December and yearend, the dollar has on average declined 0.6% since 1999 against the common European currency. With just over three days left before markets close on December 31, the dollar is showing a 0.4% dip since trading closed on December 15. A pattern of end-year dollar softness against the main European currency established […] More
Central Bank Watch
A Dovish Statement from the Bank of Israel
December 28, 2015
Israel’s monetary committee left its policy interest rate unchanged at 0.1%, the level since a reduction of 15 basis points last February. In each of four consecutive calendar years through 2014, the interest rate was reduced three times, bringing such to 0.25% from 3.25% at the end of 2010. A statement released by the central […] More
New Overnight Developments Abroad - Daily Update
Week Starting Slowly
December 28, 2015
The British, Australian, Canadian and New Zealand markets are closed in observance of Boxing Day. The dollar is 0.7% stronger against the loonie but has slipped 0.4% relative to the euro. The U.S. currency has edged up 0.1% versus the yen, kiwi and sterling and gained 0.2% relative to the yuan and Aussie dollar but […] More
Foreign Exchange Insights and Next Week
Next Week
December 25, 2015
Holidays: A number of countries observe Boxing Day on Monday: Britain, Canada, Ireland, Australia, New Zealand, Bermuda, Ghana, and Fiji. No holiday is more broadly observed than New Year’s Day, which falls on Friday for only the sixth time since the dollar floated in 1973. Because of that configuration, the final week of 2015 has […] More
New Overnight Developments Abroad - Daily Update
Christmas Day, Little Else to Say
December 25, 2015
Outside of Japan, where several indicators were reported, Christmas 2015 has been a quiet day in the marketplace. The dollar recorded dips of 0.3% overnight against the loonie and 0.1% versus the kiwi, Aussie dollar and sterling. The yen and yuan are unchanged. The euro and Swissie are 0.1% softer against the greenback. Japan’s Nikkei […] More
