New Overnight Developments Abroad - Daily Update
Getting Down to Crunch Time in Sino-U.S. Trade Talks
February 22, 2019
Stocks fell Thursday on some disappointing U.S. economic data but have rebounded Friday, as investors are choosing to believe that Sino-U.S. trade talks will reach an agreement averting an escalation of the tariff war. Share prices rose 1.9% in China, 1.2% in Hong Kong, and 0.5% in Australia, and European bourses are up by 0.5% […] More
New Overnight Developments Abroad - Daily Update
Central Bankers Less Confident about What To Do
February 21, 2019
FOMC minutes from the late January policy review clarified that the Committee’s new buzz word “patience” reflects uncertainty as to what outlook the latest economic data and other factors may be implying. “In light of the range of uncertainties associated with global economic and financial developments, the Committee decided that it was not useful at […] More
New Overnight Developments Abroad - Daily Update
Awaiting FOMC Minutes and Assessing Data Out Earlier Today
February 20, 2019
The FOMC meeting in late January looms as an important inflection point in U.S. monetary policy. The statement released at that time deleted forward guidance that further increases in the target interest rate would be consistent with achieving the Fed’s mandates, instead spoke of patience while determining any future moves, and hinted at changes in […] More
New Overnight Developments Abroad - Daily Update
More Evidence of Softening Euroland Economy
February 19, 2019
Aside from rises of 0.5% against the kiwi, 0.4% versus the Australian dollar and 0.3% relative to the euro, there’s been little net movement in the dollar overnight. Share prices are lower in Asia and Europe. Equities dropped 0.5% in Hong Kong, 0.3% in New Zealand, and 0.2% in Singapore, South Korea, and India. Stocks […] More
New Overnight Developments Abroad - Daily Update
North American Holidays and Lack of Data Reports Make for a Quiet Start to a New Week
February 18, 2019
North American markets will be shut Monday for the U.S. Presidents Day holiday and Canadian Family Day holiday. Share prices in Asia rose 2.7% in China, 1.8% in Hong Kong and Japan, 1.7% in Indonesia, 0.8% in Singapore and Taiwan, and 0.7% in South Korea but fell 0.9% in India. Among European bourses, stocks so […] More
New Overnight Developments Abroad - Daily Update
Next Week
February 15, 2019
Central Banks: Monetary policy reviews are scheduled next week in Indonesia and Sri Lanka, while the European Central Bank, FOMC, and Reserve Bank of Australia will publish minutes from their last policy meetings. Federal Reserve district presidents Mester and Bullard will be speaking publicly, and so too will the governors of the Bank of Canada […] More
New Overnight Developments Abroad - Daily Update
Border Emergency Instead of a Second U.S. Government Shutdown
February 15, 2019
Share prices sank in Asia by 2.2% in Hong Kong, 1.4% in China, 1.3% in South Korea and 1.1% in Japan but have since rallied 1.0% or more in the U.S., Canada, Germany and France. The dollar fell overnight by 0.5% against sterling, 0.3% relative to the Aussie dollar, and 0.2% vis-a-vis the kiwi but […] More
New Overnight Developments Abroad - Daily Update
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
Central Bank Watch
Swedish Riksbank
February 13, 2019
Swedish Riksbank has not had a positive repo rate since a 25 basis point cut to zero percent in October 2014. That had been followed by additional reductions of 10 basis points in February 2015 and July 2015 and of 15 bps each in March 2015 and February 2016. But at this past December’s review, […] More
Central Bank Watch
Reserve Bank of New Zealand Doesn’t Anticipate a Rate Change This Year or Next
February 13, 2019
The U.S. dollar lost 1.3% overnight against the kiwi. Officials at the Reserve Bank of New Zealand chose to retain a 1.75% Official Cash Rate. This was the 15th straight monetary policy review in which the interest rate benchmark was not moved, and a released statement reiterated that the next rate move could conceivably be […] More
