Chinese trade balance
Investors Focused on Monetary Policies, Inflation, and Biden’s State of the Union Address Tonight
March 7, 2024
Scheduled monetary policy reviews at the European Central Bank, National Bank of Serbia, and Central Bank of Malaysia left key interest rates unchanged at 4.5%, 6.5%, and 3.0%, respectively. No changes had been expected. Bank of Japan Board member Nakagawa made remarks affirming that Japan’s economy is closer to achieving the central bank’s inflation target […] More
Awaiting Chairman Powell’s Semi-Annual Congressional Testimony
March 7, 2023
Formerly known as the Humphrey-Hawkins testimony, Fed Chairman Powell will testify about how the Fed sees the U.S. economy and inflation evolving before the Senate Banking Committee today at 10:00 (15:00 GMT) and the House Financial Services Committee tomorrow. Investors particularly will glean his remarks for clarification of what monetary officials need to see before […] More
Lots of Other Data to Digest While Waiting for U.S. April Jobs Report
May 7, 2021
The dollar, down a mere 0.1% overnight, and the 10-year Treasury yield — unchanged at 1.57% — have been marking time ahead of the U.S. Labor Department’s monthly jobs report, which is expected to reveal a 0.1-0.2 percentage point drop in unemployment, another large jump in employment of close to 900k, but tepid wage pressure. […] More
Continuing Rise of Long-Term U.S. Bond Yields Lifts Dollar but Depresses Equities
March 8, 2021
The 10-year Treasury yield’s uptrend that began from 0.89% in mid-December has been extended another three basis points to 1.60%. The senate approved a $1.9 trillion pandemic relief package along partisan lines over the weekend, and investors are concerned that U.S. inflation will exceed the Fed’s expectations in both the short and long run. Bond […] More
Several Data Releases but Little Market Movement
December 9, 2019
Markets are mostly marking time ahead of numerous central bank meetings this week and Britain’s momentous election on Thursday. The dollar is trading very near its closing levels last Friday. The price of gold is 0.2% firmer. That of WTI oil is 0.5% softer. Stock markets closed 0.3% higher in Japan, South Korea and Australia […] More
Atypically High Amount of Data Reported This Monday
September 9, 2019
Data releases rather than market action were in today’s spotlight. Japanese real GDP growth last quarter was revised downward by a half percentage point to an annualized 1.3% from the first quarter. Business investment and exports were weaker than estimated initially. Real GDP was 1.0% greater than in the second quarter of 2018, and the […] More
Monetary Policy Reviews, an Intensifying U.S. Political Crisis, Trade Talks, and Some Data Surprises
May 8, 2019
Central bank officials in New Zealand and Malaysia cut their interest rates, while those in Thailand maintained an “accommodative but appropriate” 1.75% rate level. Thailand’s growth outlook was revised downward, but the inflation prognosis wasn’t changed. New Zealand’s official cash rate was lowered 25 basis points to 1.5%. Such had been 1.75% since November 2016. […] More
Sterling Continues to Stumble on Hard Brexit Fears
August 8, 2018
Sterling hit new 2018 lows of EUR 0.9019 and $1.2859. The dollar is 0.6% stronger against the pound than its Tuesday closing level. The dollar is also up 0.3% versus the loonie, down 0.3% relative to the yen, and barely changed against the euro, Swiss franc, Aussie dollar or kiwi. Asian stocks were mixed Wednesday, […] More
Oil Down & Dollar Up Ahead of Trump’s Announcement on Iran Nuclear Deal
May 8, 2018
President Trump’s decision is scheduled for 14:00 EDT (GMT 18:00). He is widely expected to pull the United States out of the deal. West Texas Intermediate crude oil has traded 1.4% lower and is back under the $70 per barrel level. The dollar’s gains so far today are most pronounced against commodity-sensitive currencies like the […] More
Chinese, Japanese and German Trade Figures Reported Plus Several Second Tier Other Releases
August 8, 2017
China’s $46.74 billion trade surplus in July was the widest since $51.35 billion last January. Japan recorded a JPY 935 billion current account surplus in June, 4.3% less than a year earlier, the the seasonally adjusted surplus rose 8.7% on month to JPY 1.523 trillion. The settlements trade surplus was 32% smaller than a year […] More
