Euroland CPI
A Sign Emerges that Supply Constraints May Be Easing, but Investors Remain Bearish
July 1, 2022
Today’s been another fine day for the dollar. Thus far, the greenback shows gains of 1.6% against the Australian dollar, 1.5% versus the Swiss franc, 1.3% relative to the kiwi, 0.8% vis-a-vis sterling, 0.4% against the Canadian dollar but just 0.2% against the euro and zero percent against the Japanese yen and Chinese yuan. Equity […] More
Volatile End to a Volatile Week as Bank of Japan Declines to Join Bandwagon of Monetary Policy Tighteners
June 17, 2022
The weighted DXY dollar index is 0.8% firmer than at Thursday’s close but 1.3% below Wednesday’s multiyear high. Against individual currencies in overnight trading, the dollar jumped 1.9% against the Japanese yen but slumped 1.6% relative to the Russian ruble. The greenback also rose 0.9% versus the Australian dollar, 0.6% vis-a-vis sterling, 0.5% versus the […] More
Risk Aversion Returns
May 18, 2022
It’s not surprising that the investor move back into riskier assets over the prior three sessions proved to be short-lived because the reasons behind this year slide in equities and rise of the dollar hadn’t disappeared. The three main U.S. stock market indices are down 0.5-1.0% in futures trading. Smaller dips have occurred in Europe. […] More
European Consumer Confidence Taking a Hit from Putin’s War
April 21, 2022
Irish consumer sentiment sunk 9.3 index points in April to an 18-month low on top of a 10-point slide in March. At 57.7, the index has fallen from 86.8 a half year earlier. Danish consumer confidence printed at a 403-month low of minus 20.9 in April versus readings of -14.4 in March, -3.2 in February […] More
Inflation and Russian Invasion of Ukraine Casting Longer Shadows
March 17, 2022
Equities behaved in a widely diverse way overnight after the Fed enacted the first of many rate hikes. Share prices closed up by 7.0% in Hong Kong, 3.5% in Japan, 3.0% in Taiwan, 1.8% in India, 1.7% in China, and 1.1% in Australia. But stock markets so far are down this Thursday by 1.0% in […] More
Watching Developments in Ukraine and Awaiting Round One of Fed Chairman Powell’s Semi-Annual Humphrey-Hawkins Testimony
March 2, 2022
The high point of last night’s U.S. State of the Union address were the inspiring remarks about Russia’s invasion of Ukraine and challenge such poses to democracy around the world. On domestic policy issues, President Biden took a deconstructed approach to the bundled package that failed to pass congress, and he cited several broad issues […] More
A Market Pause While Waiting for Other Shoes to Drop
February 23, 2022
Continental European share prices are up 0.6-0.9% so far today in Germany, France, Italy, Spain and Switzerland. Futures trading in the S&P 500 and Nasdaq point to rebounds of 0.6% and 1.0%. In Pac Rim stock market trading, China and Indonesia closed up 0.9%, Hong Kong and Australian recovered 0.6%, and Japan didn’t trade due […] More
Weaker Dollar but Stronger Equity Prices
February 2, 2022
The dollar fell overnight by 0.5% against the euro and its weighted DXY index, 0.4% versus the yen, and 0.3% relative to the Swiss franc, Australian dollar and sterling. Compared to its late January high, the DXY index is now 1.6% weaker. Share prices got an additional boost from several strong earnings reports and Alphabet’s […] More
Dollar Little Changed on Day that Saw Many Central Bank Meetings and Thick Menu of Released Data
January 20, 2022
The weighted dollar edged up by a marginal 0.1% overnight. It gained 0.1% against the euro and Swiss franc but is unchanged against the yen and sterling and down 0.1% versus the Canadian dollar. Stock market action in the Pacific Rim was widely varied, with Japan Nikkei and Hong Kong’s Hang Seng indices closing 1.1% […] More
Markets Jolted by Omicron Fears
November 30, 2021
Each month, no two-day sequence produces a heavier data release flow than the last business day on one month and first business day of the next. Navigating that period this time was magnified by worrisome developments in the race to understand the new Omicron variant of the Covid-19 pandemic. The CEO of Moderna, whose vaccine […] More
