Euroland construction PMI
Spectacular U.S. Jobs Report Underscores Superiority of America’s Economy
April 5, 2024
Whereas share prices have fallen compared to Thursday closing levels by 2.0% in Japan, 1.7% in Spain, 1.5% in Italy, 1.4% in Germany and Great Britain, 1.0% in South Korea, and 0.6% in Australia and Taiwan, the DOW and U.S. S&P 500 show gains of 0.6%, and the tech-intensive Nasdaq index is up 1.1% thus […] More
Stocks and Bonds Down in Continuing Reaction to U.S. Jobs Leap Last Month
February 6, 2023
Equity markets fell this Monday by 2.0% in Hong Kong, 1.7% in South Korea, 1.3% in Taiwan, and 0.8% in China. The German, French and Spanish stock markets currently exhibit losses above 1.0%, and U.S. stock futures are down between 0.5% and 1.0%. 10-year sovereign debt yields jumped today by 12 basis points in Italy, […] More
China Delivers Two Disappointments to Investors
November 7, 2022
Officials in China announced that for now there is to be no change in the government’s zero Covid objective, quelling rumors last week that a modification would soon be forthcoming to promote faster growth. Also China’s October trade surplus of $85.2 billion was $10 billion smaller than street estimates. A 0.7% year-on-year dip in imports […] More
Marking Time Ahead of Friday’s U.S. Employment Situation Report… Bank of England Projects Recession
August 4, 2022
The dollar edged 0.1% lower against the euro, Swiss franc, and on a weighted DXY basis. The dollar also fell 0.5% versus the New Zealand dollar and 0.3% relative to the Australian dollar. There was no net dollar movement overnight versus the Japanese yen, Chinese yuan or Canadian dollar. The weakest major currency has been […] More
Dollar Back Close to 52-Week High Ahead of U.S. October Jobs Report
November 5, 2021
The weighted DXY dollar index is presently trading almost back at its one-year high. It rose overnight by 0.2% against the euro and 0.1% relative to the yen and loonie and scored even larger gains of 0.5% against the Swiss franc and Australian dollar and 0.4% relative to the New Zealand dollar, Mexican peso and […] More
Lower Dollar
May 6, 2021
The dollar settled back 0.4% on a weighted basis and against the euro overnight. The dollar also lost 0.5% relative to the Swiss franc, 0.3% versus the loonie, and 0.1% relative to the New Zealand and Australian currencies. The dollar alternatively edged 0.1% higher against the peso and sterling and held steady on balance versus […] More
Strong Equity Rally and Dollar Downtrend Pause
June 4, 2020
Stock markets mostly rose in the Pacific Rim and Europe but only modestly for the most part in contrast to yesterday’s sharp advance. Just prior to the release of U.S. data this morning, U.S. stock futures were suggesting a downtick at the open. The dollar is unchanged from Wednesday closing levels against the euro, yen, […] More
Risk Back Off after California Declares State of Emergency
March 5, 2020
Yesterday’s U.S. stock market rally extended into Pacific Rim trading hours overnight, with markets advancing 2.1% in Hong Kong, 2.0% in China and New Zealand, 1.3% in South Korea, and 1.1% in Japan, Australia, and Taiwan. But the covid-19 virus continues to extend its tentacles, and investor fear abruptly overtook hope in Europe where equity […] More
Investors Uneasy Awaiting U.S. Jobs and Trade Data
October 4, 2019
Today’s big question is whether the U.S. jobs statistics due in an hour corroborate other weak data released during the past month. Yesterday brought stunning news that the non-manufacturing purchasing managers index slumped 3.8 points in September to a 3-year low and embodied drops of 6.3 points in production and 6.6 points in new business. […] More
Problems Deepen in Europe But Appetite for Riskier Assets Returns
September 5, 2019
German industrial orders slumped 2.7% in July, almost twice as steeply as forecast. This wiped out June’s recovery and left orders 5.6% below their year earlier level. Demand weakness was broadly based across industrial sectors but more concentrated exports than domestic demand. The construction purchasing managers index in Euroland sank 1.5 points in August, sliding […] More
