New Overnight Developments Abroad - Daily Update
Dollar Drops Additionally, and Stock Markets Down Too
December 30, 2019
The dollar slid overnight by a further 0.3% against the yen, sterling, Swiss franc and Australian and New Zealand dollars. The dollar also fell 0.2% against the euro and by 0.1% relative to the yuan and loonie. This extends the losses before the weekend on Thursday and Friday. Stock markets in the Pacific Rim weakened […] More
Foreign Exchange Insights and Next Week
Next Week’s Menu: December 28, 2019 – January 3, 2020
December 28, 2019
Central Banks: South Korea has a monetary policy review, and FOMC minutes will be published. Kaplan, Barkin, Evans, Daly, and Brainard are some of the Fed officials with scheduled public remarks. New Year Holiday: This is the most widely observed holiday of the year. Just about every country observes a holiday on January 1, and […] More
New Overnight Developments Abroad - Daily Update
Share Prices Firm but Dollar Softer
December 27, 2019
The dollar recorded overnight declines of 0.6% against sterling, 0.5% versus the Australian dollar and Swiss franc, 0.4% relative to the euro and kiwi, 0.3% against the loonie and 0.1% versus the yen and peso. Most stock markets firmed. In Japan and China whose markets remained open all week, by contrast, share prices fell 0.4% […] More
New Overnight Developments Abroad - Daily Update
Many Markets Still Closed
December 26, 2019
Extended Christmas holidays known in many countries as Boxing Day have kept market action to a minimum. The United States is an exception. U.S. share prices opened modestly higher. Share prices rose 0.9% in China, 0.6% in Japan, 0.4% in South Korea and Turkey but fell 0.7% in India. The dollar rose overnight by 0.4% […] More
New Overnight Developments Abroad - Daily Update
Christmas 2019 and All Is Calm
December 25, 2019
Many, many markets are closed today, including the United States, U.K., Germany, France, Italy, the Netherlands, Belgium, Portugal, Spain, Greece, Sweden, Norway, Ireland, Finland, Ukraine, Bulgaria, Czech Republic, Poland, Hungary, Romania, Austria, Slovakia, Estonia, Lithuania, Latvia, Switzerland, Croatia, Cyprus, Lebanon, Australia, New Zealand, Canada, Mexico, Brazil, India, Indonesia, Hong Kong, South Korea, Malaysia, Sri Lanka, […] More
New Overnight Developments Abroad - Daily Update
Little Opening and Not Much Happening this Xmas Eve
December 24, 2019
Financial markets are either closed all day or part of the day in Spain, Italy, Germany, Switzerland, Australia, New Zealand, Norway, Portugal, the Netherlands, Indonesia, Singapore, the U.K., France, Singapore, and Hong Kong. U.S. markets will shut down about an hour after noon EST. Overnight movements in the dollar have by and large been confined […] More
New Overnight Developments Abroad - Daily Update
Sterling Looking a Touch Fragile
December 23, 2019
The weakest major currency this Monday has been sterling, which has slipped below $1.30 and by 0.4% in all from Friday’s close. The U.S. dollar otherwise has been mixed, dipping 0.2% against both the Australian and New Zealand dollars and 0.1% relative to the yen and euro. The dollar alternatively shows slight gains of 0.2% […] More
Foreign Exchange Insights and Next Week
Next Week’s Menu: December 20-27, 2019
December 20, 2019
The coming week is the last full one of the 20-teens. It’s hard to believe that the 21st century is almost one-fifth completed. Holidays: Many markets will be shut all day or earlier than normal on Tuesday, Wednesday, and/or Thursday for Christmas Eve, Christmas Day, and Boxing Day. This sequence tends to squelch activity the […] More
New Overnight Developments Abroad - Daily Update
More Smoke than Fire
December 20, 2019
A lot of economic data was released on the final day of the final meaningful week of 2019, but the market is settling into yearend mode and showed a muted reaction. The dollar firmed overnight by 0.3% against the euro and Swiss franc but slipped 0.3% relative to sterling. There were dollar upticks of 0.2% […] More
Central Bank Watch
Bank of Mexico’s Fourth Interest Rate Cut since August
December 19, 2019
The four 25-basis point central bank rate cuts in 2019 reverse the four hikes made in 1918, but the new 7.25% overnight interbank rate level is still four percentage points higher than the end-2015 level. A released statement explaining today’s rate reduction cites continuing sluggish growth, a weak economic outlook, growth and inflation risks skewed […] More
