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New Overnight Developments Abroad – Daily Update

U.S. Producer Price Inflation, Like Yesterday’s CPI, Undershot Expectations

August 11, 2022

The dollar fell overnight by 0.6% relative to the yen and kiwi, 0.4% versus the Swiss franc, euro and weighted DXY index, and 0.3% vis-a-vis the Mexican peso and Australian dollar. U.S. stock futures are up 0.8%, and the 10-year Treasury yield has dropped five basis points, which is more than other ten-year sovereign debt […] More

U.S. CPI Heads Load of Price Data Released Today Around the World

August 10, 2022

Over ten price indices have been reported this Wednesday: German CPI inflation was confirmed at 7.5% in July, down from 7.6% in June and a 48-year high of 7.9% in May. The energy component subside to a still lofty 35.5% 12-month rate of increase, while food accelerated to 14.8% from 12.7% in the previous month. […] More

Investors Looking Ahead to Important Price Data

August 9, 2022

In market action overnight, The dollar marked time, sliding 0.3% against the euro, 0.2% on a weighted DXY basis, and 0.1% relative to the Swiss franc and peso. The dollar also edged up 0.2% against the Australian dollar and 0.1% versus the yen and Canadian dollar. U.S. stock futures fell around 0.3%. Major European bourses […] More

Dollar Down as Investors React to Surprisingly Strong U.S. Jobs and Chinese Trade Data

August 8, 2022

All economic upswings end eventually, but better-than-forecast economic data releases on Friday and Saturday have persuaded investors that a downturn in the United States and world economies is not a clear and present danger. U.S. congressional movement closer to a broad bill to counter global warming has also buoyed optimism. The dollar, which has for […] More

Investors Treading Water Ahead of U.S. Monthly Release of Jobs Data

August 5, 2022

Market movements: U.S. stock futures and the dollar are barely changed.  Likewise, the prices of gold and West Texas Intermediate crude oil have dipped just 0.2% and 0.3%, although the latter has now retreated roughly 29% from its 52-week high set in early March. Bitcoin rallied 3.4%. The Reserve Bank of India engineered a third […] More

Marking Time Ahead of Friday’s U.S. Employment Situation Report… Bank of England Projects Recession

August 4, 2022

The dollar edged 0.1% lower against the euro, Swiss franc, and on a weighted DXY basis. The dollar also fell 0.5% versus the New Zealand dollar and 0.3% relative to the Australian dollar. There was no net dollar movement overnight versus the Japanese yen, Chinese yuan or Canadian dollar. The weakest major currency has been […] More

Taking Stock of the Mixed Signals of Recent Developments

August 3, 2022

Investors breathed a sigh of relief that the Pelosi visit to Taiwan is over but continue to worry that adverse geopolitical repercussions will outweigh any symbolic benefits. In its present fragmented political conditions, America could do without the trio of elevated tensions with Russia, China, and the Middle East. Yesterday’s primary U.S. elections demonstrated the […] More

A Chinese Cloud Moves Through Financial Markets

August 2, 2022

The game of chicken between House Speaker Pelosi and Chinese President Xi has generated a new run by investors into safer assets. Pelosi appears determined to not scrap her Asian trip stop in Taiwan, and Xi is warning of unspecified reprisals. In overnight market action, share prices closed down 2.4% in Hong Kong, 2.3% in […] More

August Kicks Off With Signs of a Global Slowdown and a Further Drop in the Dollar

August 1, 2022

The dollar fell overnight by a further 0.5% on a weighted basis and is 3.6% below last month’s multi-decade high. Dollar losses so far this Monday amount to 2.0% against the kiwi, 1.0% versus the yen, 0.7% relative to the Australian dollar, 0.6% vis-a-vis sterling, 0.4% against the euro and peso, and 0.2% versus the […] More

End-Month Data Storm

July 29, 2022

The last business day of each month tends to experience a load of economic data reports, and July has been no exception. A market misconception caused by a policy dynamic fraught with uncertainty that translates into lessening transparency about future policy has complicated the task of reducing inflation. I personally did not think that Powell’s […] More