British industrial production
Stronger Yen and Kiwi
June 10, 2014
The dollar fell 0.1% relative to the Australian dolar, 0.2% against the yen and 0.3% versus the the kiwi but shows overnight gains of 0.3% relative to the euro and Swiss franc and 0.1% vis-a-vis the loonie and sterling. Ten-year Japanese JGB and British gilt yields are unchanged, while the 10-year German bund has dipped […] More
Euro Weakens Further in Post-Draghi Reaction
May 9, 2014
The takeaway from yesterday’s ECB press conference is that it’s a matter of what kind of stimulus the ECB will announce next month, rather than whether something is going to be introduced then. A big part of this preparation stems from mounting frustration with the euro’s prior appreciation and how the currency’s strength could promote […] More
Disappointing British and Chinese Data ahead of U.S. Jobs Report
January 10, 2014
British industrial production and factory output each stagnated in November, cutting the former’s 12-month rate of increase to 2.5% from 3.2%. Construction output dropped 4.0% on month, and same-store British retail sales posted an on-year 0.4% increase last month, the smallest such gain in eight months. China’s trade surplus contracted 24% last month to $25.64 […] More
Slightly Softer Dollar and Yen
November 6, 2013
The dollar edged 0.1% higher against the yen but is otherwise down 0.5% against the kiwi, 0.4% versus the euro, 0.3% relative to the Swiss franc, sterling and Australian dollar, and 0.1% against the loonie. The yuan is unchanged on a day that saw Chinese share prices drop 1.3%. In other stock markets, share price […] More
Difficult Tuesday for Stocks and Sovereign Debt Instruments
June 11, 2013
Markets reacted with disappointment to the Bank of Japan statement and press conference. Investors wanted but didn’t get any new initiatives to address the rise of JGB yields since the current policy was launched a bit over two months ago. The 1-year period for the fund-supplying operations was not extended, and Governor Kuroda explained that […] More
Fresh Signals Regarding the Yen
April 9, 2013
An amber light on yen depreciation was flashed by a key advisor to Japanese Prime Minister Abe. Mr. Hamada suggested that 100 per dollar is a much more appropriate and competitive level. The dollar has fallen back 0.4% against the yen. It has also dropped 0.4% relative to sterling as well as 0.5% versus the […] More
Sterling Exhibited a Heavy Tone
March 12, 2013
Sterling sank to a low of $1.4832, its weakest dollar level in about 2-1/2 years. The trigger for today’s decline was the announced 1.2% plunge of British industrial production in January that erased December’s 1.1% advance and left production in November-January 0.9% below the August-October level. Production in January was 2.9% weaker than a year […] More
Focus on Bank of England and ECB
February 7, 2013
The dollar is narrowly mixed with gains of 0.4% against the kiwi, 0.2% versus the euro and yen, and 0.1% against the Australian dollar but declines of 0.3% versus the Swiss franc and sterling and 0.1% relative to the loonie. The yuan is steady. After Wednesday’s 3.8% leap, the Nikkei settled back 0.9%. Elsewhere in […] More
Unsettling European News Ahead of North American Labor Statistics
December 7, 2012
Monthly jobs data will be released in the United States and Canada at 13:30 GMT. German industrial production sank 2.6% in October, five times greater than expected, after a 1.3% drop in September. The Bundesbank warned of possible negative German growth both this quarter and the first quarter of 2013, and revised projected full-2013 GDP […] More
Judgement Day in America
November 6, 2012
Today’s U.S. presidential election outcome is generally considered too close to call. Representing world opinion, the Economist and Financial Times endorsed Obama despite reservations about his first term. In a surprise to many analysts, the Reserve Bank of Australia declined to cut the 3.25% Official Cash Rate further. The Aussie dollar has climbed 0.7% against […] More
