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

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