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New Overnight Developments Abroad – Daily Update

Equities Still Climbing as Evidence Piles Up of Inflationary Pressure

October 26, 2021

As U.S. congressional democrats continue haggling and scaling back President Biden’s fiscal proposals, equities extended their gains overnight. Share prices are up 1.0% in Germany and Spain, 0.7% in the U.K., 0.6% in France and 0.5% in Italy. U.S. futures show moderate gains as well, and the Japanese Nikkei more than reversed Monday’s loss with […] More

Dollar and Equities Buoyant in Spite of Geopolitical Tensions, Inflation Concerns, and Softer Confidence

October 25, 2021

China’s government has locked down parts of the country to combat a new spread of Covid-19. The global death count from the disease is likely to cross above 5 million victims later this week. A fresh Russian cyber attack on U.S. government and corporate networks has been revealed. Turkish President Erdogan is threatening the expulsion […] More

Softer Dollar/Stronger Equities

October 19, 2021

The dollar fell against most currencies overnight including drops of 0.4% against the euro and weighted DXY index. The dollar also lost 0.7% relative to sterling and 0.8% versus the Aussie dollar but just 0.2% against the Japanese yen. The 10-year Treasury yield is a basis point lower, while its German and Japanese counterparts are […] More

Investors React to Global Inflation and Slower Growth in China

October 18, 2021

The third week of October commenced with sharply higher long-term interest rates, a strengthening dollar, and a setback in equities. The rising price of West Texas Intermediate crude oil touched its highest level in the past 52 weeks and is currently showing a 1.6% advance from Friday’s closing level. Bitcoins cost over $60,000 and are […] More

Dollar Unchanged Overnight but Down Slightly for the Week

October 15, 2021

The DXY weighted dollar index is 0.2% softer than a week ago, setting the stage for its first weekly decline in six weeks. Overnight movements have been diverse, with a 0.6% slide against sterling but a 0.6% rise against the yen, touched a multiyear high of 114.4 earlier today. The dollar slipped 0.3% against the […] More

Optimism Bumps Up that Recovery Can Withstand Covid, Higher Inflation, and Central Bank Tightening

October 14, 2021

Equities have experienced a better session, with higher closes in Asia of 1.5% in Japan and South Korea and 1.4% in Indonesia. Hong Kong was closed for the Chung Yeung festival. The German Dax, Paris Cac and British Ftse are respectively up 0.9%, 1.0% and 0.7%, and U.S. futures point to similar gains. The move […] More

Many Data Already Reported… Now Waiting for U.S. CPI and FOMC Minutes

October 13, 2021

The dollar slipped overnight by 0.3% against the Swiss franc and sterling, 0.2% versus the euro, peso and on a DXY weighted basis, and 0.1% relative to the Canadian dollar, Chinese yuan, and Turkish lira. Ten-year sovereign debt yields have dropped four basis points in Germany and five bps in the U.K. but only a […] More

Data Mix of Elevated Inflation Despite Moderating Growth

October 12, 2021

Today’s menu of price data around the world revealed The highest rate of Japanese domestic producer price inflation (6.3%) since September 2008 and also a larger 31.3% year-on-year leap in import prices. The steepest on-year jump in German wholesale prices (13.2%) since June 1974. As then, energy played a prominent role in the spike. The […] More

Big Jump in Fossil Fuel Prices Marks U.S. Holiday

October 11, 2021

Financial market depth today will be diminished by holidays in Canada (Thanksgiving) and the United States (formerly known as Columbus Day but renamed Indigenous Peoples’ Day in many states). Inflationary concerns around the world are being inflamed by a 3.3% overnight additional leap in the price of WTI oil to around $82/barrel. That price hadn’t […] More

Awaiting U.S. September Jobs Data

October 8, 2021

Equity markets and the dollar stayed in place overnight, pending new clues from the U.S. Labor Dept report. The dollar on balance is unchanged against the euro, loonie, Swiss franc and weighted DXY index. The dollar edged up 0.1% versus the yen, kiwi, and Aussie dollar and down 0.2% relative to the peso and 0.1% […] More

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