Australian retail sales

Investors Continuing to React to Fed’s New Tone

June 21, 2021

Markets had expected the FOMC meeting last week to push back against concerns related to this year’s supply delay-driven rise in inflation and were surprised when that opportunity wasn’t fully utilized. The dot-plot diagram of individual member interest rate path preferences shifted the likely timing of the first hike in the federal funds rate from […] More

Financial Market Fallout from U.S. Jobs Data Surprise Has Been Muted Thus Far

May 10, 2021

Compared to Friday closing levels, the dollar is unchanged against the euro and Swiss franc. The U.S. currency is only 0.4% versus the Australian dollar, 0.3% relative to the Chinese yuan, 0.2% vis-a-vis sterling and 0.2% versus the loonie, Australian dollar, Mexican peso and weighted DXY index. The dollar has firmed 0.1% relative to the […] More

Tough Week for Central Bank Credibility

March 19, 2021

At Wednesday’s press conference, Fed Chairman Powell tried to assuage investor concerns about inflation and the possibility of an earlier Fed tightening than indicated in the central bank’s forward guidance. Markets didn’t quite believe the dovish tone and drove the 10-year Treasury yield from 1.63% then to a high yesterday of 1.76%. Tech stocks in […] More

A Week of Transition Ends with Release of Weak Data and Fresh Investor Uneasiness

January 22, 2021

The Biden Administration has been busy reorienting American policies, but markets today are most fixated on alarming Covid trends and fresh evidence of their adverse impact on economic activity. U.S. equity futures are set to open 0.5-1.0% lower today after markets closed down 1.7% in Indonesia, 1.6% in Hong Kong, 1.5% in India, 0.9% in […] More

Equities Open Lower after Big Rise Last Week.. Dollar Recovers on Risk Aversion

January 11, 2021

The dollar climbed overnight by 1.1% against the Mexican peso, 0.7% relative to the Swiss franc, sterling, and Canadian, Australian and New Zealand dollars, 0.5% versus the euro, and 0.3% vis-a-vis the yen (to a 5-week high above 104.0). The trade-weighted dollar move was +0.5%. U.S. equities have fallen 0.6-0.8% in futures trading. Share prices […] More

Markets Turning Increasingly Disorderly

March 6, 2020

Share prices are down over 3.0% in the U.K., France, Germany, Spain, Italy, and Switzerland even though a decent U.S. labor market report is anticipated. Equity markets in the Pacific Rim closed down 2.7% in Japan, 2.8% in Australia, 2.5% in Indonesia, 2.3% in India, 2.2% in South Korea, 2.0% in New Zealand and 1.9% […] More

Many Industrial Production Reports as Well as U.S. Jobs Day

January 10, 2020

Markets marked time ahead of the U.S. December labor market statistics. The dollar didn’t react much afterward, either. As of 08:10 EST, the dollar was up 0.2% against the Swiss franc and 0.1% relative to the euro and yen. The greenback was unchanged vis-a-vis the loonie and kiwi but down by 0.3% against the peso […] More

Risk On Mood Continuing

November 4, 2019

Friday saw share prices rally on trade optimism and the aversion thus far of a hard Brexit. Subsequent official comments from U.S. and Chinese officials did not dash investor hopes, and Euroland PMI data suggest that the downturn in manufacturing did not intensify last month. Japanese markets were closed today for the Culture Day holiday. […] More

Sino-U.S. Trade Dispute Evolves Into Deeper Conflict and Rattles Markets

April 4, 2018

As a presidential candidate, Trump prioritized the U.S. trade imbalance, which he blamed on unfair practices of America’s trading partners. But as president, he acted initially on many other issues, while doing little about trade. Then came the U.S. tariffs on steel and aluminum, which by themselves affected only a sliver of commerce. A month […] More

A Din of Unease

March 6, 2017

U.S. President Trump accused his predecessor of wiretapping his phone during the election campaign. Far right nationalist parties continue to augment their voter support in The Netherlands and France ahead of respective elections scheduled for March 15 and April 23rd. The CEO of the troubled┬áDeutsche Bank admitted it’s been going in the wrong direction and […] More

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