British retail sales

April PMI Results, Bold U.S. Policy Proposals, and a 50-Basis Point Central Bank Hike in Russia

April 23, 2021

The weighted dollar fell 0.3% overnight and double that for the week. Against specific other currencies, the dollar lost 0.7% against the Japanese yen, 0.3% relative to the euro, Australian dollar and sterling, and 0.2% versus the Swiss franc, Mexican peso, and New Zealand and Canadian dollars. The dollar held steady against the Chinese yuan […] More

A Week of Transition Ends with Release of Weak Data and Fresh Investor Uneasiness

January 22, 2021

The Biden Administration has been busy reorienting American policies, but markets today are most fixated on alarming Covid trends and fresh evidence of their adverse impact on economic activity. U.S. equity futures are set to open 0.5-1.0% lower today after markets closed down 1.7% in Indonesia, 1.6% in Hong Kong, 1.5% in India, 0.9% in […] More

Trump Fans Political Chaos but Dollar Slippage Stays Orderly

November 20, 2020

The Trump campaign is continuing to try to discredit election results in several states. If it can persuade some key states not to certify Biden’s win, the President-Elect could fall short of the needed 270 electoral votes, throwing the election decision back to state legislatures, the House of Representatives, and perhaps the Supreme Court. The […] More

Dollar Down but Stocks Up After U.S. Presidential Debate and First Glimpse at October PMI Surveys

October 23, 2020

The dollar slipped by 0.4% overnight against the Australian and Canadian dollar, 0.3% relative to the Swiss franc, 0.2% vis-a-vis the peso, kiwi, and euro, and 0.1% versus the yen and yuan. Contrary to the softer trend, the dollar has edged up 0.1% against sterling, and sovereign debt yields and share prices are each firmer. […] More

Mixed Signals this Friday

September 18, 2020

China’s Shanghai Composite equity index jumped 2.1%, but share prices fell 1.4% in New Zealand and 0.3% in Australia and India. Japan’s Nikkei rose only 0.2%, and Spanish stocks have so far dropped 1.2% on the day. The dollar climbed to another record high against the Turkish lira and shows a year-to-date advance of more […] More

Dollar Ending Down Week on an Up Note

August 21, 2020

Former VP Joseph Biden’s presidential nomination acceptance speech capping the Democratic Party National Convention was well-received, inspirational and with no major gaffes. The Republican Party National Convention next week runs from Monday through Thursday. Preliminary purchasing manager August surveys reveal a loss of growth momentum in Euroland, stalled progress in Japan, a return to sub-50 […] More

Confidence Hit by Concerns Over China, Coronavirus, and Economic Outlook

July 24, 2020

The last thing the world needs in the middle of a recession is an escalation of Sino-U.S. trade and foreign policy strains, but that became an even likelier prospect as Beijing officials closed down the U.S. consulate in Chengdu. The day’s coronavirus data have been again alarming, although not quite to the extent of the […] More

Good Trade News but Unsettling Covid Developments

June 19, 2020

Share prices got a boost from an overnight report that China will step up purchases of U.S. agricultural goods. This comes after Thursday’s revelation in the Bolton tell-all book that Trump had solicited a boost in Chinese purchases to voter reelection support from the mid-west. Several populous U.S. states like California, Florida, and Texas continue […] More

Provocations by Chinese National People’s Congress and Special Central Bank Meetings in Japan and India

May 22, 2020

China’s government has decided to crack down on Hong Kong dissonance with a series of new security laws. Protesters will have fewer liberties and will be punished more severely. Hong Kong’s stock market plunged 5.6% in response. At China’s National People’s Congress, the tradition of setting an annual growth target was abandoned in a sign […] More

Better-than-Expected Batch of Chinese Data Lifts Renminbi

January 17, 2020

The dollar fell 0.3% against China’s renminbi but advanced 0.2% versus the euro, kiwi and Swiss franc and by 0.1% relative to the loonie. The dollar remained steady against the yen, sterling, and Australian dollar. The recent upturn in share prices was extended in the Pacific Basin and Europe, with gains of 0.6% in New […] More

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