British CPI and PPI
Disinflationary News from U.K. and Germany Ahead of FOMC Statement
September 20, 2023
The dollar slipped overnight by 0.4% against the Australian and New Zealand currencies, 0.2% versus the euro and peso, and 0.1% relative to the Canadian dollar and Swiss Franc. Equities closed down 1.2% in India, 0.7% in Japan, 0.6% in Taiwan and Hong Kong and 0.5% in China but are currently showing overnight gains of […] More
Asian Growth Concerns.. British CPI and Euroland GDP Figures Release.. And Waiting for FOMC Minutes Due Later Today
August 16, 2023
The Chinese economy remains a concern that weighing on its regional neighbors as well. Property prices in China were 0.1% lower in July than a year earlier. That’s follows zero percent in the second quarter and disappointing retail sales, industrial production, corporate investment, and unemployment data reported yesterday. Equity markets today tumbled 1.3% in South […] More
Powell Testimony, British CPI Shocker, and Concern about Growth in China at This Summer Solstice
June 21, 2023
On this longest day of sunlight in the Northern Hemisphere, Fed Chairman Powell will testify on U.S. economic conditions and Fed policy before the House Financial Services Committee beginning at 10:00 am EDT. He will be questioned on the precise meaning of the policy pause, the likely peak in Fed interest rates, and the time […] More
Stronger Dollar, Higher Long-Term Interest Rates, and Softer Equities
April 19, 2023
Equities in the United States are down over a half percent in futures trading as investors react to the latest batch of reported corporate earnings. European shares are only marginally lower. In Asia, stocks closed down 1.4% in Hong Kong, 0.7% in China, 0.3% in India and 0.2% in Japan. The Fed Beige Book of […] More
FOMC Day, And Inflation Reports Around the World Aren’t Cooperating
March 22, 2023
Financial markets have positioned for a 25-basis point hike of the federal funds rate later today, which would represent a compromise between conceding the the task of restoring in-target U.S. inflation is still far from accomplished and concern over the way that mid-sized banks have handled the considerable interest rate increase over the past year. […] More
Dollar Lifted by Signs of Stronger U.S. Growth than Assumed
February 15, 2023
The weighted DXY dollar index advanced 0.7% overnight. Gains range from 1.5% against the Aussie dollar and 1.3% versus sterling to 0.8% relative to the Japanese yen and Mexican peso, 0.6% against the euro and loonie, and 0.4% relative to the Chinese yuan and Swiss franc. U.S. stock futures are down 0.5-0.6%. Investors have abandoned […] More
Market Reaction Muted to Missile Strike in Poland
November 16, 2022
A Russian-made missile struck a grain facility inside Poland, but it remains unclear who fired that round or from where such came. World leaders were fortunately already assembled in Bali, Indonesia, for the Group of Twenty annual summit, and an emergency meeting to forestall a direct Nato-Russian military conflict has so far prevented an outsized […] More
Investors Spooked Ahead of Today’s FOMC Minutes, Not Reacting Immediately to Other Data
August 17, 2022
FOMC Minutes due at 14:00 EDT are expected to accentuate the primacy of restoring price stability even if that means a continuing rapid rise of interest rates amid a slowing economy. The dollar, which has done well in times when the mood has turned risk averse, advanced overnight by 1.2% against the Australian dollar, 0.9% […] More
Elevated Price Data, Weak Consumer Confidence, and Changing Central Bank Rate Expectations
July 20, 2022
The dollar had retreated in recent sessions but has rebounded 0.3% so far today against the euro and versus the DXY weighted index. The dollar also strengthened overnight by 0.2% against the Swiss franc, Chinese yuan and Turkish lira and by 0.1% versus sterling. The yen and Aussie dollar are steady, and the greenback dropped […] More
With Central Bank Policies in Today’s Spotlight, Tuesday’s Equity Rally Has Been Followed by Renewed Selling on Wednesday
June 22, 2022
Fed Chairman Powell delivers his semi-annual congressional testimony on U.S. monetary policy and the economy at 10:00 EDT (14:00 GMT) before the Senate Banking Committee. He is likely to strike a hawkish tone, prioritizing the goal of reducing inflation and halting the upward creep of expected inflation. The quarterly review of the Swiss National Bank’s […] More
