British CPI and PPI

Data Evidence of Higher Inflation and a Setback in Industrial Production

July 14, 2021

In overnight currency market action, the weighted dollar touched its highest level (92.83) since very early in April but subsequently settled back to 0.1% below its Monday closing level. Net dollar losses so far today are 0.4% versus the Mexican peso, 0.3% relative to sterling and 0.1% versus the yen, euro, loonie and Australian dollar. […] More

Stressful Day that Includes the Biden-Putin Talks in Geneva, an FOMC Policy Meeting in Washington, and an Assortment of Meaningful Data Releases

June 16, 2021

The Biden-Putin summit is underway and expected to last around five hours. The U.S. political leaders will then hold separate individual press conferences rather than a joint event. The Federal Open Market Committee is not expected to change monetary policy settings but could for the first time indicate that it’s not too early to begin […] More

Mixed Economic Tidings

December 16, 2020

The message from December purchasing manager survey preliminary findings is that vaccine hopes eclipsed the need to tighten activity restrictions to combat an intensifying wave of the infection. The data clearly signal that economic activity in the fourth quarter declined only slightly compared to the huge hit taken when the first Covid wave hit in […] More

Covid News Proceeding on Two Tracks, While Dollar Slipping but Slows

November 18, 2020

There’s been more good news regarding Covid vaccine developments as Pfizer’s product, like Moderna’s, has been shown to be 95% effective. Before vaccines can be distributed widely, however, current spikes in cases and deaths point to a very difficult winter ahead for public health and economic activity. New U.S. cases and deaths yesterday approached 160,000 […] More

Dollar Little Changed Overnight

June 17, 2020

The dollar is narrowly mixed this Wednesday. In spite of concerns that attempts to reopen social activities could intensify the Covid-19 pandemic, stock markets mostly rose, with the notable exception of a 0.6% slide in Japan’s Nikkei-225. New Zealand’s market shot up 3.9%, and European bourses show gains today so far of 1.3% in Switzerland, […] More

More Macroeconomic Relief around the World

April 22, 2020

The U.S. Congress approved a fourth fiscal package that’s just a tad short of $500 billion. South Africa unveiled $26 billion of fiscal support, which is equal to about a tenth of GDP. The Bank of Mexico Governing Board held an unscheduled meeting, cutting its policy rate for the third time this year. Along with […] More

Much Riding on Fed Chairman’s Press Conference

June 19, 2019

The dollar is unchanged from Tuesday closing levels against the yen, yuan, kiwi, and Australian dollar. The greenback has slipped 0.4% against the Swiss franc, 0.3% relative to sterling but just just 0.1% vis-a-vis the loonie and euro. U.S. President opened a fresh topic in the 24-hour news cycle, accusing ECB President Draghi and that […] More

Continuing Move Into Riskier Assets

April 17, 2019

Share prices in Europe and Asia mostly rose. So did 10-year sovereign debt yields and the price of oil. The dollar is unchanged on net against the yen and sterling. The greenback lost 0.5% against the Canadian dollar, 0.3% relative to the Australian dollar and yuan, 0.2% versus the euro and peso, and 0.1% against […] More

Financial Market News Cycle Headed by FOMC, Brexit, and U.S./Sino Trade Talks

March 20, 2019

Today’s FOMC announcement at 14:00 EDT (18:00 GMT) will be accompanied by updated forecasts and followed at 14:30 by Chairman Powell’s press conference. Analysts look for scaled-back growth and inflation forecasts, fewer interest rate hikes this year than indicated earlier, and a stop in quantitative tightening. British Prime Minister May is asking for a 3-month […] More

Dollar Softer Ahead of FOMC Decision and After U.S. Current Account Release

December 19, 2018

Despite weaker data and pressure from Trump, the Federal Open Market Committee is expected to announce the fourth rate hike of 2018 later today but to couch such within more accommodative forward guidance regarding likely policy in 2019. The U.S. current account deficit jumped to $124.8 billion in the third quarter from $101.2 billion in […] More

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