British retail sales
Softer Dollar and Yen
June 24, 2022
The dollar firmed 0.2% overnight against the yen but otherwise slipped 0.3% against the Swiss franc, peso, and kiwi, 0.2% relative to the loonie and sterling, and 0.1% versus the euro and on a weighted DXY basis. Equity markets are headed for a weekly advance, which has been a rare occurrence in 2022. The street […] More
Dollar Strengthens With Fed Perceived Likely to Widen Disparity Between its Policy Stance and Those of Other Central Banks
April 22, 2022
Federal Reserve Chairman Powell and other Fed policymakers continue to go out of the way to encourage speculation that a series of 50-basis point interest rates are on the way. The European Central Bank is also shifting priorities but transitioning at a much slower pace. The Bank of Japan is dug in, committed to an […] More
More Data and Continuing Confusion Regarding Russian Intentions
February 18, 2022
The dollar rose 0.3% and 0.2% overnight against the Turkish lira and Japanese yen but fell 0.2% relative to the loonie, Australian dollar, Mexican peso and Chinese yuan. There’s been no net change against the pound sterling and Swiss franc, nor in the weighted DXY dollar index. Equities sold off heavily yesterday on fears of […] More
Rout of Risky Assets Continues
January 21, 2022
The third week of January has seen relentless selling pressure against riskier financial assets, and Friday is not providing any respite. At next Wednesday’s post-FOMC press conference, Fed Chairman Powell is widely expected to signal a likely rate hike in March and other coming steps to rein in the accommodative policy stance. Equities around the […] More
Markets Looking Ahead to Next Week’s Central Bank Policy Meetings
September 17, 2021
The Federal Reserve heads a long list of central banks reviewing monetary policy next week. Among the others on tap are central banks in Japan, Turkey, the U.K., Switzerland, Sweden, Indonesia, Brazil, China, South Africa, Taiwan, Norway and the Philippines. Investors hope to get more clarification on when Fed will begin tapering bond purchases and […] More
Dollar and Yen Continue benefiting from Post-FOMC Risk Aversion
June 18, 2021
The dollar edged 0.1% higher overnight against its weighted DXY index to its strongest level since April 12. In bilateral terms, the U.S. currency advanced 0.4% against the Australian dollar, 0.3% versus the New Zealand dollar and sterling, 0.2% relative to the Swiss franc and 0.1% vis-a-vis the loonie, but the dollar dipped 0.1% against […] More
Dollar and Equities Strengthened Overnight
May 21, 2021
Preliminary May purchasing manager survey findings for Euroland show a 39-month composite index high despite marginally slower growth in manufacturing due to intensifying supply chain delays. Service sector activity is benefiting from a relaxation of Covid restrictions, and overall optimism regarding the one-year outlook remained high in May in spite of higher inflation. The French […] More
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
