New Overnight Developments Abroad - Daily Update
Dollar Mostly Unchanged Overnight, Share Prices and Sovereign Debt Yields Slip a Bit
November 26, 2019
The dollar is unchanged from Monday closing levels against the yen, Swiss franc, kiwi and Australian dollar and has moved no more than 0.1% versus the euro, loonie, yuan and peso. A bigger dollar change of 0.4% occurred against sterling. The 10-year British gilt yield fell three basis points. Ten-year U.S. Treasury, German bund, and […] More
New Overnight Developments Abroad - Daily Update
Share Prices Strengthened on China Trade Concession and Favorable Corporate News
November 25, 2019
It’s been a risk-on start to this holiday-shortened week. Share prices rose 1.5% in Hong Kong, 1.3% in India, 1.0% in South Korea, 0.8% in Japan and 0.7% in China. European markets so far show gains of 0.4-0.6% in Germany, France, Italy, Spain and Switzeraland as well as a 0.8% jump in the British Ftse. […] More
Foreign Exchange Insights and Next Week
Next Week’s Menu: November 23-29th
November 22, 2019
Central Banks: Monetary policy reviews scheduled in South Korea, Israel and Sri Lanka. Fed Beige Book of regional economic conditions to be published. ECB chief economist Lane and Reserve Bank of Australia Deputy Governor Debelle speak publicly. Holidays: Japanese Labor Thanksgiving on Monday. U.S. Thanksgiving on Thursday and an early close of the U.S. Treasury […] More
New Overnight Developments Abroad - Daily Update
Meaningful Data from Abroad and a Paralyzed U.S. Federal Government
November 22, 2019
Today’s main dollar move has been a 0.4% rise against sterling. Provisional U.K. purchasing manager survey results from November revealed surprisingly weaker-than-expected developments. The composite PMI fell 1.5 points to a sub-50 reading of 48.5, lowest since July 2016 or, that is, right after the infamously ill-advised Brexit referendum. Both manufacturing (48.3) and services (48.6) […] More
New Overnight Developments Abroad - Daily Update
Investors Concerned about Trade Strains Augmenting Slow Global Growth
November 21, 2019
Share prices overnight in the Pacific Rim fell 1.6% in Hong Kong, 1.4% in South Korea, 1.2% in Singapore, 0.7% in Australia, 0.6% in Taiwan and Indonesia, 0.5% in Japan and 0.3% in China. European stock markets are down but not as sharply as Asia’s. The dollar today is little changed since Wednesday’s close. Ten-year […] More
New Overnight Developments Abroad - Daily Update
China Uncertainty Weighing on Stocks
November 20, 2019
For some time now, much of the day-to-day swings in financial market sentiment has been attributed to shifting perceptions about U.S.-Sino trade talks, and oftentimes in the absence of concrete understanding of how those talks are really progressing. It makes one wonder if the trade talks have been a convenient excuse for explaining away normal […] More
New Overnight Developments Abroad - Daily Update
Another Fairly Uneventful Day in the Market
November 19, 2019
The dollar and 10-year sovereign debt yields hardly changed overnight. Prices for WTI oil and Comex gold fell 1.0% and 0.3%. The main action of the day has involved equities. Stock markets in the Pacific Rim advanced 1.6% in Hong Kong, 0.9% in China, 0.7% in Australia, and 0.5% in Taiwan, India and Indonesia but […] More
Foreign Exchange Insights and Next Week
A Favorable Dollar Outlook
November 18, 2019
The dollar has performed well for nearly two years now, advancing by around 9.5% compared to its January 2018 low on a trade-weighted basis against other major traded currencies. Relative to specific currencies in that span, the greenback has appreciated 12.0% against the euro, 11% versus the Chinese yuan, 9.2% vis-a-vis sterling, and 5.1% against […] More
New Overnight Developments Abroad - Daily Update
Focus on Hong Kong Unrest and U.K. Election
November 18, 2019
Hong Kong saw another day of violent protests and the arrest of many students trying to leave the University. Hong Kong’s stock market climbed 1.4%, nonetheless. Elsewhere in the Pacific Rim, stock markets advanced 0.6% in China, Taiwan, and Singapore and by 0.5% in Japan. The Australian and New Zealand markets fell 0.4% and 0.3%. […] More
Foreign Exchange Insights and Next Week
Next Week’s Menu: November 16-22
November 15, 2019
Central Banks: Monetary policies to be reviewed in Indonesia, Hungary, China and South Africa. Policy meeting minutes to be published by the Fed, Reserve Bank of Australia, and European Central Bank. Reserve Bank of Australia Governor Lowe, Bank of Canada Governor Poloz, and ECB President Lagarde will be speaking publicly. Special Events and Holidays: A […] More
