British CPI and PPI

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

Rising Inflation Lifts Interest Rates, the Dollar and the Price of Gold

April 13, 2022

The hope is that March might see inflation crest, but investors have heard that story before only to be disappointed. Fresh on the heals of yesterday’s U.S. March CPI data (a 483-month high of 8.5% in the total index and a 475-month 6.5% high of core CPI), U.S. producer price data arrive today. The Federal […] More

Dollar Marking Time Ahead of the Release Shortly of U.S. Data and Later of FOMC Minutes

February 16, 2022

Minutes of the late January FOMC meeting get released today at 14:00 EST (19:00 GMT). Investors hope for further clues to how aggressively the committee will be raising the federal funds rate. Tensions along the Ukraine/Russian border remain high. While some Russian troops have been pulled back, other parts of the deployment continue to be […] More

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

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