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New Overnight Developments Abroad – Daily Update

Fresh Wave of Risk-Aversion: Share Prices Now Following the Slide in Long-Term Interest Rates

July 8, 2021

U.S. stock futures point to a drop of around 1.3% at the U.S. open. Share prices Thursday closed down by 2.9% in Hong Kong, 1.1% in Singapore, 1.0% in South Korea, 0.9% in Japan and 0.8% in China. European stock markets so far have lost over 1.5% in German and the U.K. and more than […] More

More European Data, More Covid Cases, and FOMC Minutes

July 7, 2021

The dollar shows modest overnight gains of 0.2% against the euro and sterling and 0.1% relative to the yen and Swiss franc. Larger advances have occurred against the Australian and New Zealand currencies and the Mexican peso. Equities closed down 1.0% in Japan, 1.5% in Singapore, 0.6% in South Korea, and 0.4% in Hong Kong […] More

Mixed Data Signals and Another Central Bank Shifts its Stance Ever So Slightly

July 6, 2021

The dollar slid 0.1% against its DXY weighted index overnight, with drops of 0.9% against the kiwi, 0.6% versus the Australian dollar, 0.3% relative to the yen, and 0.2% vis-a-vis the Mexican peso. The dollar also firmed 0.2% against the euro and loonie and 0.1% against the Swiss franc. The Turkish lira, Chinese yuan and […] More

Much Data in Spite of U.S. Holiday

July 5, 2021

Monday’s menu of economic data releases includes over 30 purchasing manager surveys, French industrial production, British and German new car sales, Turkey’s CPI and PPI, Australian and Singaporean retail sales, and consumer confidence in Spain, Mexico and the Philippines. Fissures have developed in OPEC unity over production quotas. Observances continue of America’s 245th birthday. Today […] More

Awaiting U.S. Monthly Labor Situation Report

July 2, 2021

Amid lessening restrictions on travel, U.S. investors are anxious to get away for the long Independence Day weekend but first must get past today’s release of June jobs data. A larger employment increase than seen in April or May is anticipated along with a further dip of the jobless rate, which was 5.8% in the […] More

Evidence of Two-Speed Post-Pandemic Recovery and Some Encouraging News on the Inflation Front

July 1, 2021

The first day of July brought a slew of manufacturing purchasing manager surveys. Recovery from the Covid recession is developing faster than than the upswing from the Great Recession, but countries that have been forced to reimpose restrictions on social gathering are seeing their recoveries lag others. Currencies are also becoming more aligned with Covid-management […] More

Dollar and Equities Little Changed, but Considerable Data Were Released on this Final Day of 2Q

June 30, 2021

The dollar remained unchanged overnight against its DXY weighted index, the yen, loonie and sterling and shows an uptick of 0.1% relative to the euro and Australian dollar. The dollar nonetheless is headed for a strong advance in the second quarter, reflecting Covid trends and a tweaking of Fed forward guidance toward an earlier tapering […] More

Dollar Strengthened against Other Currencies and Gold

June 29, 2021

The driving force behind today’s rise in the dollar has been Covid worries. Against this dominant concern, signs of improving economic confidence and evidence that inflation may be cresting have exerted little influence on financial market trading. From a global standpoint, over a third of a million new coronavirus infections were identified in the past […] More

Concerns Over Delta Covid Strains Weigh on European Equities

June 28, 2021

Net overnight movements in the dollar have been marginal and mixed, with dips of 0.5% versus the Turkish lira and 0.2% relative to sterling and upticks of 0.3% verus the Mexican peso, 0.2% against the Swiss franc and 0.1% vis-a-vis the Canadian, Australian and New Zealand dollars. The U.S. currency is unchanged against the yen, […] More

Robust Sentiment Indices

June 25, 2021

The dollar posted fractional losses overnight, dipping 0.1% on balance against the euro, yen, loonie, Swiss franc, Aussie dollar, New Zealand dollar, and on a DXY weighted basis. The dollar also fell 0.3% versus the Chinese yuan, Mexican peso, and Turkish lira. Equity markets advanced 1.4% in Hong Kong, 1.2% in China and 0.7% in […] More

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