New Overnight Developments Abroad - Daily Update
Dollar Pulled in Different Ways
December 9, 2024
The dollar rose 0.6% overnight against the yen but fell by 1.0% and 0.5% against the Australian and New Zealand currencies. The dollar ticked marginally lower relative to the loonie, peso, sterling and yuan but held steady versus the euro. While 10-year sovereign debt yields slipped a basis point in Japan and Great Britain and […] More
Foreign Exchange Insights and Next Week
Next Week’s Menu: December 7-13, 2024
December 6, 2024
Central Banks: Interest rate policies will be reviewed at the European Central Bank and in Australia, Canada, Armenia, Peru, South Africa, Switzerland, Serbia, Ukraine, and Peru. This will be the first Swiss National Bank Governing Board meeting presided over by Chairman Martin Schlegel, who succeeded Thomas Jordan on October 1, 2024. The Bank of Japan’s […] More
New Overnight Developments Abroad - Daily Update
Market Sentiment Unmoved by Either Euroland GDP Data or U.S. Labor Market Figures
December 6, 2024
The U.S. dollar‘s biggest moves this Friday are gains so far of 0.6% against the Australian and New Zealand dollars and 0.4% relative to the Canadian dollar. The greenback has slipped 0.2% versus the Swiss franc and sterling, edged up 0.1% vis-a-vis the euro and shows no net movement against sterling. Ten-year sovereign debt yields […] More
New Overnight Developments Abroad - Daily Update
Crypto Is Today’s Big Winner Against a Backdrop of Geopolitical Concerns
December 5, 2024
Whereas digital currencies had often failed to wear the inflation-hedge crown, it has lately capitalized mightily on geopolitical tensions such as Russian President Putin’s threat to use nuclear weapons in the war with Ukraine. U.S. and Russian generals have reportedly taken the rare step of communicating to counter this risk. Amnesty International is accusing Israel […] More
New Overnight Developments Abroad - Daily Update
Fed Rate Cut Hopes and Several Economic Data Releases
December 4, 2024
By a three to one margin, financial markets anticipate a 25-basis point interest rate cut from the Fed later this month, compared to a minority view that officials may choose not to ease at this time. Several U.S. data releases occurred this Friday: ADP estimates that 146k private-sector jobs were created in November, which is […] More
New Overnight Developments Abroad - Daily Update
South Korean Won Seizes Foreign Exchange Market Spotlight
December 3, 2024
The U.S. dollar jumped 2.4% overnight against the South Korean won after President Yoon Suk Yeol, whose term began in May 2022, declared martial law in the face of an increasingly dysfunctional legislature and the threat of his own impeachment. At today’s low of 1,438 won per dollar, the Korean currency had dropped 9% since […] More
New Overnight Developments Abroad - Daily Update
Rhetorical Trade War, Teetering Foreign Governments, and Manufacturing Purchasing Manager Surveys Headline Today’s Financial Market News
December 2, 2024
Amid repeated U.S.-led economic sanctions in response to geopolitical mischief, the block of countries known by the acronym BRICS (standing for Brazil, Russia, India, China and Saudi Arabia) are considering steps toward a new currency in which to invoice and transact trade and financial transactions. President-elect Trump is now threatening to impose a 100% tariff […] More
