Euroland CPI and unemployment
Much More Than an FOMC Announcement Day
February 1, 2023
The FOMC policy statement at 19:00 GMT today (14:00 EST) will be followed half an hour later by the start of Chairman Powell’s press conference. Officials are expected to raise the target federal funds corridor by 25 basis points to 4.50-4.75%. This is the first scheduled FOMC meeting of 2023 and therefore the one in […] More
Third Quarter Ushered Out With Disturbing Inflation Data, More Central Bank Hikes,High Tension in Asia, a Mega-Storm in the U.S. Southeast, and a Strong Dollar
September 30, 2022
The weighted DXY dollar index rose 0.2% overnight but is 2% below Wednesday’s peak. The dollar advanced so far today by 0.4% against the euro, Swiss franc, Australian dollar and sterling but just 0.1% versus the yen. Thursday had seen heavy selling of equities. Share prices today closed down 1.8% in Japan, 1.2% in Australia, […] More
June Opens on Hopeful Note
June 1, 2021
Manufacturing purchasing managers survey results reveal record growth in many cases, robust business optimism, but also inflationary pressure from demand outstripping supply. Euroland’s factory sector PMI was revised even higher to a record reading of 63.1. The Netherlands, Austria, Germany, Ireland, and Italy all scored above 62.0, and the lowest reading in the group — […] More
Soft Economic Data and China Balking on a Long-Term Trade Deal
October 31, 2019
Equity markets today are down 1.1% in India, 0.9% in the U.K., and 0.4% in China and Australia. 10-year sovereign debt yields also reflect a more cautious investor mood. Canada’s 10-year yield tumbled 15 basis points on Wednesday. Today, the 10-year German bund and British gilt yields are down 5 bps, and the U.S. Treasury […] More
Australian Interest Rate Cut and Greater-than-Forecast Inflation Retreat in the Euro Area
June 4, 2019
The dollar is unchanged against the yen, euro, sterling and yuan. The greenback edged marginally higher overnight against the Aussie dollar and kiwi. In other financial market action earlier today, share prices fell almost 1% in China but closed flat in Japan. The German Dax is up 0.8%, while stocks in the U.K. and France […] More
Stocks and Sovereign Debt Yields Up on Better-than-Expected Chinese and British Manufacturing Data
April 1, 2019
This is not an April Fool’s joke. China’s NBS manufacturing purchasing managers index climbed 1.3 points to a 6-month high of 50.5 in March from February’s 3-year low, while the Caixin-compiled Chinese manufacturing PMI reading of 50.8 constituted an 8-month high. Also, the NBS nonmanufacturing PMI rose 0.5 points to a 6-month high as well […] More
Mounting Evidence of Slower Growth in Europe and Japan
March 1, 2019
Stock markets rallied in Asia on hopes for a U.S.-Chinese trade deal soon. Share prices climbed Friday by 1.8% in China, 1.3% in Hong Kong, 1.0% in Japan, 0.9% in Indonesia and 0.6% in India. The black sheep was South Korean equities, which dropped 1.8% further following the collapsed U.S./North Korean denuclearization talks. Equities in […] More
The Usual Month-End Flood of Economic Data but Little Overnight Movement in the dollar
October 31, 2018
The dollar is unchanged against the euro and loonie, 0.1% firmer relative to the yuan and Swiss franc, 0.2% higher vis-a-vis the yen, Aussie dollar and kiwi. Somewhat larger moves have happened against sterling (a drop of 0.5%) and the Mexican peso (a rise of 0.5%). Gold fell 0.6%. Following the rebound Tuesday of U.S. […] More
Trump Vies with Deluge of Data for Market’s Attention
August 31, 2018
A considerable amount of data gets reported around the end of every month, especially on the final business day. But this time, there’s an equal flood of outrageously provocative quotes from the U.S. president to stir up market activity. Data first: Japan had disappointing industrial production news. Output fell 0.1% in July after a 1.8% […] More
Firmer Dollar on this Last Day of August
August 31, 2017
The dollar climbed overnight by 0.8% against the kiwi, 0.4% relative to sterling, 0.3% versus the peso, and 0.2% vis-a-vis the euro, yen, Swissy, Canadian dollar and Australian dollar. The greenback also edged up 0.1% against the yuan. Gold dipped 0.2%. Lots of data reported today. Stocks were mixed overnight in Asia but are mostly […] More
