Chinese retail sales and industrial production
Dollar Broadly Higher as Investors Seek Clarity on Brexit Mess and U.S.-Sino Trade Talks
March 14, 2019
British MPs last night defeated a motion for allowing the U.K. to leave the EU without any Brexit deal by a vote of 321-278. Today’s vote will be a motion to extend the Article 50 deadline beyond March 29th. Prime Minister May aims to hold another vote within the week on her Brexit deal. A […] More
Lots of Data Released and Mostly on the Softer Side
May 15, 2018
The dollar strengthened across the board overnight, rising 0.7% against the peso, 0.4% relative to the euro, Aussie dollar and yuan, 0.3% versus the yen and sterling, and 0.2% vis-a-vis the Canadian dollar, Swiss franc and kiwi. Equity markets in the Pacific Rim mostly fell, a 0.6% rise in China being the main exception. Share […] More
More U.S. Dollar Declines
March 14, 2018
The dollar lost some additional ground overnight, dipping 0.7% against the Aussie currency, 0.5% relative to the peso after Trump examined border wall prototypes, 0.3% versus the loonie, and 0.2% vis-a-vis the yen, kiwi, yuan, and sterling. The dollar, however, is unchanged on net against the euro and Swissie. In U.S. news prior to the […] More
Less Risk Aversion Now but Respite Might Not Last
August 14, 2017
North Korea hasn’t backed down rhetorically, and U.S. President Trump has every reason to keep foreign crisis distraction on the front-burner in light of the developments in Virginia. Nonetheless, the new week kicked off with last week’s haven-favored assets trimming their gains. Investors have shown temporary faith that a nuclear war will be averted one […] More
Markets Sustained by a Belief that Help is on the Way
August 12, 2016
Investors are confident that central banks won’t let bad things happen. The Central Bank of Chile kept a 3.5% interest rate benchmark and dropped language about future rate normalization. Like many other monetary authorities except perhaps the Fed, plans to tighten are getting delayed and in many cases like the Bank of England and BOJ […] More
Last Meaningful Week of 2015
December 14, 2015
A lot of information including a likely first federal funds rate hike since June 2006 will be crammed into this third week of December. Such will clear the decks for the end-of-year holiday season, and trading desks will be closing their 2015 books. Back in the day, there was no more consistent reliable bias in […] More
Mixed Chinese Data on a Holiday-Dampened Wednesday
November 11, 2015
The Armistice ending the First World War was reached 97 years ago today. Markets in the U.S. (Veterans Day), France (Armistice Day) and Canada (Remembrance Day) are shut. China reported October industrial production, retail sales, fixed asset investment, and net foreign direct investment statistics. A 5.6% on-year rise in industrial production was the smallest gain […] More
Monday Monday, Can’t Trust That Day
September 14, 2015
Overnight changes in the U.S. dollar have been comparatively mild. It’s ticked 0.1% higher against the euro and Swissie, unchanged relative to sterling, and down versus the yen, yuan, Aussie, Canadian and New Zealand dollars. Share prices fell 2% in China, 1.6% in Japan and 0.5% in South Korea but rose 1.0% in India, 0.5% […] More
Dollar Drifts Downward along with the Snow
December 10, 2013
Much of the U.S. is blanketed with the white stuff, including the Northeast which is experiencing wintry weather for a second straight day. The dollar fell overnight by 0.3% against the yen, 0.2% versus the New Zealand and Australian dollars and 0.1% relative to the euro, Swiss franc, loonie and sterling. The Chinese yuan was […] More
More Weak Data Reported Around the World
August 9, 2012
China, Japan, Britain and India released data accentuating economic weakness. Central banks in Japan, Indonesia, and Korea left policy stances unchanged. The dollar has risen 0.4% against the euro, Swissie and kiwi. It is up 0.1% versus sterling, down 0.2% against the yen, and unchanged overnight relative to the loonie, Aussie dollar and yuan. Stocks […] More
