New Overnight Developments Abroad - Daily Update
Macron Wins with 58.6% of the Vote but Recessionary Fears Extend Equity Losses Around the World
April 25, 2022
Although less than the 66.1% to 33.9% margin of victory in 2017, French President Macron was reelected, beating Le Pen by a greater margin than expected. His margin this time was still comfortable at 17.2% — 58.6% to 41.1%. Had Le Pen’s far-right National Rally captured the government, the unity of NATO against Russian aggression […] More
Foreign Exchange Insights and Next Week
Next Week’s Menu:
April 22, 2022
Central Banks: Monetary policies will be reviewed in Japan, Sweden, Russia, Hungary, Kazakhstan, and Kyrgyzstan. As always, BOJ Governor Kuroda will preside over a press conference to explain the BOJ Board’s latest thinking. Holidays and Special Event: ANZAC day in Australia/New Zealand falls on Monday, and Japan observes Showa Day on Friday. The French presidential […] More
New Overnight Developments Abroad - Daily Update
Dollar Strengthens With Fed Perceived Likely to Widen Disparity Between its Policy Stance and Those of Other Central Banks
April 22, 2022
Federal Reserve Chairman Powell and other Fed policymakers continue to go out of the way to encourage speculation that a series of 50-basis point interest rates are on the way. The European Central Bank is also shifting priorities but transitioning at a much slower pace. The Bank of Japan is dug in, committed to an […] More
New Overnight Developments Abroad - Daily Update
European Consumer Confidence Taking a Hit from Putin’s War
April 21, 2022
Irish consumer sentiment sunk 9.3 index points in April to an 18-month low on top of a 10-point slide in March. At 57.7, the index has fallen from 86.8 a half year earlier. Danish consumer confidence printed at a 403-month low of minus 20.9 in April versus readings of -14.4 in March, -3.2 in February […] More
New Overnight Developments Abroad - Daily Update
Intensifying Onslaught in Ukraine and Concerns over the Weakness of the Yen and Yuan
April 20, 2022
The weighted dollar index got as high as 101.04, a 2-year high, overnight. Dollar/yen touched a 20-year peak of 129.4, prompting a verbal protest against the yen’s slide from Japan’s finance minister. In the past, verbal complaints about currency values served as a threat to the possible use of direct foreign exchange intervention if the […] More
New Overnight Developments Abroad - Daily Update
Easter Holiday Over But Data Flow Still Low and Investors Are Risk Averse
April 19, 2022
Ten-year sovereign debt yields rose sharply this Tuesday with gains of nine basis points in Germany and Great Britain, eight bps in the Netherlands, six bps in France, Italy, Spain and Portugal, and four basis points in the United States. Share prices plunged 5.3% in Russia, 2.7% in Taiwan, 2.3% in Hong Kong, 1.2% in […] More
New Overnight Developments Abroad - Daily Update
Easter Monday: U.S. Will Be One of the Few Countries Open Today
April 18, 2022
The Easter Monday holiday is being observed today in the U.K., Germany, France, Italy, Spain, the Netherlands, Portugal, Greece, Switzerland, Brazil, Hong Kong, Australia, New Zealand, Canada, Argentina, Peru, and Mexico. Share prices closed down by 1.1% in Japan, 2.0% in India, 0.6% in Indonesia and Taiwan, 0.5% in Malaysia and 1.0% in Singapore. U.S. […] More
Uncategorized
Next Week’s Menu: April 16 – 22, 2022
April 15, 2022
Central Banks: There are scheduled monetary policy reviews next week in Indonesia and China. Minutes from the last Reserve Bank of Australia board meeting will be published, and so will the Federal Reserve’s Beige Book of regional economic conditions. Holidays and Events: Easter Monday will be observed in several countries, including Great Britain, Germany, France, […] More
New Overnight Developments Abroad - Daily Update
Good Friday 2022 Brings Many Market Closures and a Focus on Russia and China
April 15, 2022
A great many markets will not be trading today, including those in the U.K., Germany, France, Italy, Spain, Switzerland, Australia, New Zealand, Hong Kong, Singapore, India, Canada, and the United States. Some U.S. economic data are being reported later, however, such as industrial production, capacity utilization, the Empire State monthly manufacturing survey, and Treasury-compiled international […] More
Central Bank Watch
Monetary Authority of Singapore Tightens Stance
April 14, 2022
The Monetary Authority of Singapore, which conducts monetary policy by targeting the external value of the currency rather than a domestic interest rate, took the unusual step today of changing two of the three defining parameters of its Singapore dollar policy, rather than just one. As it did last October and again in January, MAS […] More
