Euroland and British construction PMIs
Much to Absorb This Wednesday
March 6, 2024
Fed Chairman Powell’s semi-annual Humphrey-Hawkins testimony before the House Financial Services Committee begins today at 10:00 EST ((15:00 GMT). The Fed’s website already has published a summary of his opening statement. We believe that our policy rate is likely at its peak for this tightening cycle… The Committee does not expect that it will be […] More
Quick Shift in Market Focus from U.S. Political Chaos to the Price of Oil and Tomorrow’s U.S. Jobs Report
October 5, 2023
The price of West Texas Intermediate crude oil plunged around 12% from last Friday’s high of $93.68 to an overnight low of $82.35. The much lower-than-presumed 89k estimated September rise in private U.S. jobs by ADP has raised concerns about U.S. and world demand. So has a surprisingly big increase in U.S. oil inventories last […] More
Equity Retreat Extended and Dollar Narrowly Mixed
December 6, 2022
Overnight dollar movements include a rise of 0.4% against the loonie coupled with a drop of 0.4% against the Swiss franc; an uptick of 0.2% relative to the yen versus a 0.2% downtick against the euro, dips of 0.1% vis-a-vis the Australian and New Zealand dollars, and no net change against sterling. More significant change […] More
Dollar Up, Equities and Bond Yields Lower, and U.S. Capitol on Alert
March 4, 2021
March 4th was the day U.S. presidents were inaugurated until the 1930s, and there’s internet chatter suggesting a possible reprise of the January 6th attack on the Capitol. Widely anticipated geopolitical traumas rarely seem to happen as planned. A notable exception occurred July 1, 1997, the day that Hong Kong reverted to Chinese rule. That […] More
Disappointing Data and Inflammatory Remarks from Pompeo ahead of U.S. Jobs Report
September 4, 2020
After Thursday’s selloff, financial markets have quieted ahead of the U.S. August labor market report. Share prices in the Pacific Rim fell 3.1% in Australia, 2.0% in New Zealand, 1.3% in Hong Kong, 1.1% in Japan, and 0.9% in China, but European markets bounced up 1.2% in Spain, 0.4% in Italy, and 0.3% in the […] More
