Australian CPI
Slightly Softer Dollar but Higher Share Prices Ahead of FOMC Announcement
July 27, 2022
The FOMC statement due at 18:00 GMT today will be followed by Powell’s press conference 30 minutes later. Fed forecasts are not being updated at this meeting, and officials are widely expected to raised the fed funds target by 75 more basis points to 2.25-2.50%, which would more or less align such with what is […] More
Markets Anticipating Another Fed Rate Cut
October 30, 2019
The dollar marked time overnight as investors await confirmation of further easing from the FOMC. Their expectation of a third 25-basis point reduction since July 31st of the federal funds target is thought by many to be accompanied by forward guidance indicating a predisposition to pause afterwards. The announcement at 18:00 GMT will be followed […] More
Brexit Mess, An FOMC Announcement, and Some Weak Data Reports
January 30, 2019
Last night’s British parliamentary votes produced an ill-advised win for Prime Minister May, rejecting a no-deal option or a second referendum in favor of authorization for the prime minister to attempt a renegotiation of parts of her agreement with the rest of the EU. Those governments have repeatedly ruled out renegotiation, so a no-deal Brexit […] More
The Usual Month-End Flood of Economic Data but Little Overnight Movement in the dollar
October 31, 2018
The dollar is unchanged against the euro and loonie, 0.1% firmer relative to the yuan and Swiss franc, 0.2% higher vis-a-vis the yen, Aussie dollar and kiwi. Somewhat larger moves have happened against sterling (a drop of 0.5%) and the Mexican peso (a rise of 0.5%). Gold fell 0.6%. Following the rebound Tuesday of U.S. […] More
Sterling Rebounds and Streak Ends of Higher Daily Closes in Japan’s Stock Market
October 25, 2017
Sterling rose 0.9% overnight, buoyed by stronger-than-forecast third-quarter GDP growth. Xi Jinping introduced the new Chinese Politboro, all with similar ages to himself, and in so doing failed to signal an apparent successor in 2022. He is now China’s most powerful leader since Mao. Japan’s Nikkei closed down 0.5%. That was the first daily loss […] More
Market Pause
April 26, 2017
After sharp advances on the first two days of the week, equities flattened as investors assessed whether so much optimism is really justified. Opinion polls, which point to a comfortable win for Macron over Le Pen in the early May presidential run-off election, have been wrong before as we saw in Britain and the United […] More
FOMC Day and an Australian Data Surprise
April 27, 2016
The Federal Open Market Committee will release a statement at 14:00 EDT (18:00 GMT) on the results of its third policy meeting of 2016. The federal funds rate is not expected to change, and attention will be focused on comments regarding U.S. economic conditions and likely prospects for clues to the timing of the next […] More
Continuing Financial Market Volatility on this FOMC Decision Day
January 27, 2016
The FOMC will release a U.S. monetary policy statement at 19:00 GMT (14:00 EST). The statement this time will not be accompanied by new forecasts or a subsequent press conference. The federal funds rate was hiked at the prior meeting in mid-December, so a further increase at this one never appeared likely. The current interest […] More
Weaker Dollar Especially against the Ozzie and Sterling
April 22, 2015
The Australian dollar has risen 1.2% against its U.S. counterpart, buoyed by Aussie first-quarter CPI data that showed core inflation falling no further and remaining above 2.0% target floor. Sterling was lifted 0.7% against the dollar by Bank of England April 8-9 minutes that revealed not only a unanimous 9-0 vote for no change but […] More
Data Surprises – Both Good and Bad
July 24, 2013
Euroland preliminary PMI results were better than hoped. The composite Ezone PMI of 50.4 broke above the 50 no change threshold to an 18-month high. Manufacturing at 50.1 was at a 24-month peak, while services at 49.6 was at an 18-month high and reinforced a picture that the recession seems to be bottoming. Germany’s 52.8 […] More
