British industrial production
Higher Commodity Prices Provide Some Reassurance
March 9, 2016
West Texas Intermediate crude oil rose 2.3% to $37.32 per barrel, setting a less risk averse tone for other markets. Gold fell back 1.0% to $1,249.20 per ounce. 10-year sovereign debt yields rebounded nine basis points in Japan, 7 bps in the U.K., and 3 bps in the United States and Germany. The DOW is […] More
Hope Ahead of Yellen Testimony
February 10, 2016
U.S. stock futures are higher. Fed Chair Janet Yellen begins her semi-annual Humphrey Hawkins testimony at 15:00 GMT before the House Financial Services Committee. Many Asian markets remained closed for the Chinese New Year. The Japanese Nikkei dropped another 2.3%, and equities fell by 1.6% in Singapore, 1.2% in Australia, 1.1% in India, 0.9% in […] More
Weaker British Pound and Russian Ruble
January 12, 2016
The dollar advanced 0.8% against sterling on a disappointing U.K. industrial output report. The dollar is 0.7% stronger against the ruble on a further 0.4% slide in oil prices. WTI crude petroleum fell another 0.4% to $31.29 per barrel. The dollar is just 0.1% firmer against the yen, showing little reaction to a slew of […] More
Data Surprises Prompt Risk-Off Action
December 8, 2015
Share prices plunged 1.9% in China, 1.4% in Hong Kong, 1.3% in Taiwan and Indonesia, 1.0% in Japan and 0.9% in Australia. The sour mood extended into Europe, where stocks so far have lost 4.3% in Greece, 2.2% in Italy, 2.1% in Spain, 1.6% in France, 1.7% in Germany and 0.6% in the United Kingdom. […] More
Rate Hike in the U.K. Unlikely Until 2016
August 6, 2015
Sterling fell 0.6% overnight against the dollar, which otherwise shows gains of 0.2% versus the Swiss franc and Aussie dollar but losses of 0.4% relative to the kiwi and 0.1% vis-a-vis the loonie and euro. The yen and yuan are unchanged against the dollar. Share prices declined 1.1% in Australia, 0.9% in Indonesia and China, […] More
Focus Remains on Greece and China
July 7, 2015
There will be a summit today of eurozone leaders where the Greek government will submit its post-referendum proposal for a debt plan. Many in the rest of Europe just want Greece to leave the common currency area, and the ECB has refused to increase Greece’s emergency aid under the ELA. Chinese share prices tumbled another […] More
Weaker Dollar, Bonds and Stocks on Fresh Wave of Risk Aversion
May 12, 2015
The dollar fell overnight by 1.2% against the Swiss franc, 1.1% versus the Australian dollar, 1.0% vis-a-a-vis the euro, 0.7% relative to sterling, and 0.6% against the kiwi. The dollar also rose 0.2% against the loonie, held flat against the yuan and edged only 0.1% lower vis-a-vis the Japanese yen. Share prices fell 2.3% in […] More
Dollar, Yen, Equities and Gold Strengthen while Oil Declines
April 10, 2015
The dollar dipped 0.2% against the yen but otherwise shows gains of 0.7% against the euro and sterling, 0.4% relative to the Swissie and Australian dollar, 0.3% vis-a-vis the loonie and kiwi and 0.1% against the yuan. Share prices have risen 1.9% in China, 1.2% in Hong Kong, 1.4% in South Korea, 0.5% in Taiwan, […] More
More Euro Weakness as Draghi Hails Initial Success of Quantitative Easing
March 11, 2015
The euro fell another 1.1% against the dollar overnight, touching a low of $1.0560 and bringing the cumulative year-to-date depreciation to 12.5%. It’s become even more apparent that the real intent of quantitative easing is to substantially depreciate the external value of currency. The Bank of Japan did that in 2013, and now it is […] More
Setback Extended in Share Prices
December 9, 2014
Monday’s slide in equities continued overnight in Europe and Asia. Stocks slumped 4.5% in China, 2.3% in Hong Kong, 1.7% in Australia, 1.2% in India and 0.7% in Japan. Equities are so far down 1.5% in Spain, 1.4% in Italy, 1.2% in France, 1.1% in Britain and 0.9% in Germany. Also consistent with the risk […] More
