Australian labor costs
Yield Curve Inversion Amplifies Recession Fears and Flight to Safe Assets
August 14, 2019
The 2-year Treasury note yield edged marginally above the 10-year yield for the first time in 14-1/2 years. This and a similar yield curve inversion in the U.K. happened as investors selectively fixated on weak data while ignoring some better-than-expected statistics, causing share prices to drop sharply in Europe and the United States. Losses amount […] More
Awaiting FOMC Minutes and Assessing Data Out Earlier Today
February 20, 2019
The FOMC meeting in late January looms as an important inflection point in U.S. monetary policy. The statement released at that time deleted forward guidance that further increases in the target interest rate would be consistent with achieving the Fed’s mandates, instead spoke of patience while determining any future moves, and hinted at changes in […] More
Japanese GDP Growth in 4Q Beat Expectations. Ezone Inflation Negative. Awaiting FOMC Minutes
May 18, 2016
The dollar strengthened overnight by 0.7% against the Australian dollar, 0.5% relative to the kiwi and loonie, 0.4% vis-a-vis the euro, 0.3% against the yen 0.2% versus the yuan and 0.1% relative to sterling. Gold lost 0.3% to $1,273.30 per ounce, and copper fell even more sharply. West Texas Intermediate crude oil firmed 0.3% to […] More
Markets in Helter Skelter Mode as Trump Wins Big and Oil Drops 3.3%
February 24, 2016
Donald Trump captured the Republican caucus in Nevada with 45.9% of the vote to Rubio’s 23.9% and Cruz’ 21.4% third place showing. With neither Rubio nor Cruz inclined to drop out, Trump’s bid for the nomination looks unstopable. Following Tuesday’s difficult day for U.S. stocks, share prices in Europe are registering their worst day since […] More
FOMC Minutes to Be Released Later Today
November 18, 2015
Meanwhile, more news emerged from Paris. Police stormed a suburban house where the architect was believed to be staying. Two dead, 7 arrested, 4 police injured in violent exchange. Also, bomb threats were made against some Air France flights. Share prices fell 1.0% in China, and the yuan strengthened somewhat. There was a bit a […] More
Yuan Decline Triggers Fresh Drop in Global Equities and Sovereign Debt Yields
August 12, 2015
The yuan fell by a further 0.9% against the dollar to 6.38, and in Hong Kong offshore trading the quote sank to 6.552. Chinese central bank officials played down the development as a temporary adjustment to the new pricing system that will be more heavily influenced by market forces. They asserted that economic fundamentals do […] More
Weaker Pound and Dollar
November 12, 2014
Sterling fell 0.5% against the dollar, which has otherwise depreciated 0.8% relative to the kiwi, 0.3% versus the euro, 0.2% vis-a-vis the yen and Australian dollar and 0.1% against the loonie. The Swiss franc at 1.2022 per euro moved nearer to the 1.2000 ceiling that Swiss National Bank officials promise unlimited intervention to prevent further […] More
