China PMI
Digesting the Debate and a Slew of Quarter-End Data
September 30, 2020
Last night’s U.S. presidential debate was violently repulsive and leaves an embarrassing after-taste. The dollar hasn’t reacted discernibly, however, with gains of 0.3% against the euro and Swiss franc and 0.2% relative to sterling, no net change relative to the Japanese yen, and dips of 0.1% vis-a-vis the loonie, Aussie dollar and yuan. There have […] More
ECB Monetary Policy Review and Some Atrocious Economic Data
April 30, 2020
At a scheduled meeting of the European Central Bank Governing Council, officials left key interest rate unchanged (a 0.0% refinancing rate flanked by a -0.5% deposit rate and a 0.25% marginal lending rate). Quantitative stimulus (asset purchases) was not enhanced beyond last month’s parameters. Terms were relaxed on some lending operations, and a new series […] More
Another Downturn in Stock Prices
March 31, 2020
Asian equities had a decent session with gains of 3.6% in India, 2.7% in Singapore, 2.2% in South Korea and 1.9% in Hong Kong, but Japan’s Nikkei closed down 0.9%. Conditions worsened in Europe, with equity market drops so far of 1.4% in France, 0.9% in Germany and 0.4% in France, and U.S. futures also […] More
End-Month Data Blizzard and Sterling Strengthens
April 30, 2019
A lot of economic statistics around the world gets released on the final day of each month. The main market development this Tuesday has been a 0.7% overnight rise of sterling against the dollar, reflecting reports that talks between Prime Minister May and the Labour Party on Brexit have made surprising progress. It remains to […] More
Trump Vies with Deluge of Data for Market’s Attention
August 31, 2018
A considerable amount of data gets reported around the end of every month, especially on the final business day. But this time, there’s an equal flood of outrageously provocative quotes from the U.S. president to stir up market activity. Data first: Japan had disappointing industrial production news. Output fell 0.1% in July after a 1.8% […] More
Chinese Growth Concerns Weigh on Equities
May 5, 2014
There are holiday closures today in Britain for a spring bank holiday, Japan for Children’s Day (part of Golden Week) and Mexico for Cinco de Mayo. The main market mover has been a disappointing Chinese manufacturing purchasing managers survey, whose April reading of 48.1 was revised down from a preliminary indication of 48.3 to near […] More
Spotlight on Greece and China
July 4, 2011
Currency movements were limited overnight, reflecting a loss of leadership due to U.S. Independence Day closure. The dollar is 0.5% higher against the Aussie dollar and shows other gains of 0.2% relative to the Swiss franc and 0.1% versus the euro and Canadian dollar. The greenback is down 0.2% against the kiwi and sterling and […] More
