Chinese GDP
Oil Price Rally Continued
October 19, 2016
West Texas Intermediate crude oil, which traded at $43.30 per barrel just a month ago, rose another 1.5% overnight to $51.02 per barrel. Investors are reasonably confident that OPEC will find the discipline with Russia to reach an accord limiting production. Comex gold advanced 0.7% to $1,271.50 per troy ounce, and the dollar is modestly […] More
Upbeat Chinese and U.S. Data Overshadow the Terrorist Attack in Nice
July 15, 2016
Chinese GDP, retail sales, and industrial production exceeded analyst expectations and suggest that economy’s slowdown is leveling off. Real GDP growth accelerated to a quarter-on-quarter increase of 1.8% in the second quarter, keeping on-year growth steady at 6.7% instead of slowing further as analysts were expecting. Industrial production posted a 6.2% on-year advance in June […] More
Profit-Taking Friday
April 15, 2016
Investors were in a more sober mood at week’s end. The dollar fell back 1.0% against the kiwi, 0.7% relative to the won, 0.5% versus the yen, 0.3% vis-a-vis the Aussie dollar and sterling, and 0.2% against the euro. The loonie and yuan are unchanged. Share prices in Europe are down 0.8% in Switzerland, 0.6% […] More
Some Market Relief after Chinese Data Announced
January 19, 2016
The eagerly awaited Chinese economic data confirmed slower growth late in 2015 but not as much so as feared. Chinese data are notoriously distrusted, so one has to wonder how long today’s rally will last. The dollar fell 1.1% against the Australian dollar, 0.7% versus the loonie, 0.2% relative to the kiwi and sterling and […] More
Holiday Closures in the United States and Canada
September 7, 2015
Financial markets today will lack the leadership of North American participation due to Labor Day closures in the United States and Canada. The dollar is mixed, dropping 0.6% against sterling, 0.4% versus the Aussie dollar and 0.1% relative to the euro but advancing 0.4% against the kiwi, 0.3% vis-a-vis the yen, and 0.1% relative to […] More
Chinese GDP and a New Drop in Oil Prices
January 20, 2015
Chinese GDP recorded on-year growth of 7.3% last quarter, 7.3% in the second half of 2014, and 7.4% for the full calendar year. 2014 growth was the slowest since 1990 and below the government’s target for the first time years. Other Chinese data released today showed Industrial production rising at a 3-month high of 7.9% […] More
Data to Digest
October 21, 2014
Data released earlier today include Chinese GDP, retail sales, industrial production and business investment, revised Euroland deficit- and debt-GDP ratios, and Japan’s all-industry index. U.S. existing home sales and weekly chain store sales figures are awaited. Markets are also getting some corporate earnings reports, which have exceeded expectations. The dollar is unchanged overnight against the […] More
Chinese Data Released on a U.S. Holiday
January 20, 2014
The U.S. Martin Luther King JR. holiday has sucked leadership out of today’s market action. The dollar shows only small changes from Friday’s closing, losing 0.3% against the euro and Aussie dollar, 0.2% relative to the yen, and 0.1% versus the Swiss franc and sterling. The loonie, kiwi and yuan are unchanged. Share prices in […] More
Gold Plunges More than $100/Oz
April 15, 2013
The free-falling price of gold is 7.4% lower than its Friday close and, at $1,389.90, at its weakest level since February 18, 2011. Oil has plunged 3.5% to $88.13 per ounce, lowest since December. Commodity-sensitive currencies have been depressed sharply. The U.S. dollar has risen 1.3%, 1.1% and 0.8% against its New Zealand, Australian and […] More
Focus on Algeria, China, Japan, and Britain
January 18, 2013
Algerian forces stormed the gas plant where foreign workers had been held hostage by militants, and some of the hostages were killed in the ensuing battle. Details are unclear at this time. This crisis caused British Prime Minister Cameron to postpone his speech on Britain’s relationship to the EU in the future. No make-up time […] More
