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New Overnight Developments Abroad – Daily Update

Strengthening Dollar

September 16, 2021

Broadly-based overnight appreciations of the dollar include gains of 0.7% against the Swiss franc and Turkish lira, 0.5% versus the euro, kiwi, and sterling, 0.4% relative to the yen and Australian dollar, and 0.2% vis-a-vis the Canadian dollar and Mexican peso. The DXY weighted dollar index advanced 0.4% and is just 1.9% below its 52-week […] More

Meaningful Data Released Today in China, U.S., U.K., Japan and Euroland

September 15, 2021

The dollar fell overnight by 0.2% against the DXY weighted index and sterling, 0.4% versus the Japanese yen, and 0.1% relative to the euro and Swiss franc. Ten-year sovereign debt yields rose two basis points each in the United States, Germany and Great Britain but slipped a basis point in Japan. Equity markets mostly dropped […] More

Good, Bad and Ugly

September 14, 2021

Start with the ugly. New Covid cases in the United States spiked to more than 172.4k yesterday, and deaths topped 1800. Even as almost half the whole population remains unvaccinated, there is confusion over who is eligible for boosters and when children under age 12 will be allowed to get vaccinated. As Covid goes, so […] More

Equities and Dollar Rise after Difficult Week

September 13, 2021

Equity markets in Europe have strengthened slightly more than 1.0% in Italy and Spain and by 0.7-0.9% in Germany, France and Great Britain. U.S. stock futures are up around 0.6%, but markets earlier in the Pacific Rim had given no warning as what was to come with Hong Kong’s Hang Seng index faltering 1.5% and […] More

Numerous Inflation and Industrial Production Reports Released This Friday

September 10, 2021

There were also two central bank policy rate announcements, and each involved an interest rate increase: The Central Reserve Bank of Peru‘s Board of Directors hiked its policy interest rate twice as much as analysts were anticipating to 1.0% from 0.5%. This was the second straight increase after a hike of 25 bps in August, […] More

Thursday Spotlight on Central Banks but Attention Also Maintained on Covid and Inflation

September 9, 2021

The dollar fell overnight by 0.3% against the Swiss franc and 0.6% versus sterling but remain unchanged on balance against the euro. Dips of 0.1% occurred against the yen and weighted DXY index. Share prices are higher in the United States and Continental Europe but are down in Great Britain. Earlier in the Pacific Rim, […] More

Dollar Firms Modestly Against Backdrop of Concern over Outlook for Equities

September 8, 2021

It’s normal at any time to encounter predictions of an imminent drop in equities, and the prevalence of Casandrian warnings has increased lately. The Covid pandemic keeps chugging along and preventing a full return of economic activity to the promised land and monetary policies to a semblance of normalcy. In the United States, new cases […] More

Higher Long-Term Interest Rates Lifts Dollar and Depresses Stocks and Commodities

September 7, 2021

10-year sovereign debt yields are five basisĀ  points higher in the United States and Great Britain and up four basis points in Germany. The 10-year Japanese JGB yield, by contrast, is unchanged. The dollar rose 0.4% overnight against the DXY weighted index. The yen (up 0.3%) has outpaced the 0.1% upticks in the euro and […] More

Dollar Reverses Friday’s Drop on This Monday Labor Day

September 6, 2021

The initial dollar response to a disappointing U.S. August jobs report had been downward, but the U.S. currency advanced in overnight trading by 0.3% against its weighted DXY index, the Swiss franc, sterling and Australian dollar, by 0.2% relative to the Canadian dollar and euro and by 0.1% vis-a-vis the Japanese yen. U.S. and Canadian […] More

Economic Recoveries Restrained by Worker Fears of Catching Covid

September 3, 2021

U.S. August labor statistics highlight a mix of weakening jobs growth and strengthening upward pressure on prices. Non-farm payroll jobs rose only 235k, about a third as much as was forecast. This undershoot overwhelmed a combined 132k upward revision of jobs growth in June-July. Although the unemployment rate and under-employment rate dropped by 0.2 and […] More

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