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New Overnight Developments Abroad – Daily Update

Equities Selling Off Further

January 18, 2022

Share prices in Asia fell 0.9% in India and South Korea, 0.8% in Taiwan and 0.3% in Japan. European stock markets currently show daily drops of 0.9% in Germany, 0.8% in France, 0.6% in Italy and 0.3% in Great Britain. In U.S. futures trading, the tech-intensive Nasdaq is 1.5% lower, and losses in the S&P […] More

China Reports Economic News; U.S. MLK Birthday Holiday Squelches Market Response

January 17, 2022

The U.S. observance of Martin Luther King Jr.’s birthday points to light market trading volume this Monday and will limit any immediate reaction to the release of Chinese data covering fourth-quarter GDP and capacity usage, December retail sales, industrial production, property prices, fixed asset investment, unemployment or the first interest rate cut by the People’s […] More

Equities Tumbling Anew as Inflation and Interest Rates Climb

January 14, 2022

The dollar overnight rose 0.1% against the euro and on a weighted basis, held unchanged against the Swiss franc and sterling and fell 0.3% versus the yen. Share prices dropped 1.3% in Japan, 1.4% in South Korea, 1.1% in Australia, and 1.0% in South Korea. The German Dax and Paris Cac show losses so far […] More

Dollar Hit an Air Pocket Right after Powell Testimony on Tuesday but Fairly Steady Overnight

January 13, 2022

The dollar didn’t handle Chairman Powell’s reconfirmation hearing or yesterday’s CPI release very well and is currently trading below Tuesday highs by 1.9% against the Australian and New Zealand dollars as well as versus the Turkish lira. There are also losses over this period of 1.6% against the Canadian dollar, 1.4% relative to the Swiss […] More

Several Countries Releasing Price Data Today

January 12, 2022

The following price data were reported before the highly awaited U.S. CPI report: Chinese consumer price inflation slowed more than predicted in December, dropping 0.8 percentage points from a 15-month high of 2.3% in November to a 2-month low of 1.5%. Average CPI inflation in 2021 of 0.9% was only a third of the government’s […] More

Awaiting Powell Confirmation Hearing and a Disturbing Covid Data Point

January 11, 2022

There’s been no significant developments on the economic data front today. Investors are looking ahead to tomorrow’s data menu featuring U.S. consumer prices, Chinese CPI and PPI, Euroland industrial production and the Japanese current account and economy watchers index. The market’s immediate focus now is on Fed Chairman Powell’s confirmation hearings today before the Senate […] More

Narrowly Mixed Dollar and Downwardly Creeping Equities

January 10, 2022

The dollar climbed 0.4% versus the Swiss franc, 0.3% against the euro, and 0.2% on a weighted basis, while also slipping 0.3% against the yen, 0.2% versus the kiwi and 0.1% against sterling. The greenback stayed unchanged vis-a-vis the Canadian and Australian dollars. U.S. stock futures and key European stock indices are a tad softer, […] More

Case Keeps Rising for Early Rise in Fed’s Interest Rate

January 7, 2022

The case is growing for an FOMC rate hike in March. From a monetary policy standpoint, Fed officials are expected to pay more attention to faster-than-expected wage growth and lower-than-forecast unemployment last month than to December’s 199k rise in jobs, which was only half as much as predicted. For one thing, employment growth in October-November […] More

Continuing Market Reverberations from FOMC Minutes

January 6, 2022

FOMC minutes released yesterday afternoon, which served notice that the federal funds rate is likely to rise further in 2022 than implied earlier and that central bank balance sheet reduction will commence sooner too, haveĀ  helped allay concerns that monetary officials are treating the threat of inflation too lightly. Given this change, investors on the […] More

Awaiting FOMC Minutes and Digesting More Purchasing Manager Surveys Taken Last Month

January 5, 2022

FOMC Minutes from the December policy meeting, due at 14:00 EST (19:00 GMT) will be combed for further clarity about bond purchase tapering, Fed balance sheet management, the timing of an initial hike of the federal funds rate target, and how aggressively the rate might be raised thereafter. With this big event just hours away, […] More

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