Euroland current account

Dollar and Yen Continue benefiting from Post-FOMC Risk Aversion

June 18, 2021

The dollar edged 0.1% higher overnight against its weighted DXY index to its strongest level since April 12. In bilateral terms, the U.S. currency advanced 0.4% against the Australian dollar, 0.3% versus the New Zealand dollar and sterling, 0.2% relative to the Swiss franc and 0.1% vis-a-vis the loonie, but the dollar dipped 0.1% against […] More

Dollar Close to a Two-Month Low

April 19, 2021

The dollar kicked off this third week of April with a 0.5% decline on a weighted basis overnight. The U.S. currency lost 0.7% against the Swiss franc, 0.6% versus the yen, Australian and New Zealand dollars, 0.5% relative to sterling, and 0.4% against the euro and Mexican peso. To some extent, the dollar’s slippage may […] More

Plunge in Turkish Lira after Central Bank President There is Sacked

March 22, 2021

The mercurial political leader of Turkey, President Erdogan, fired Turkey’s central bank president on Saturday, two days after the 1-week repo rate had been raised to 19% from 17%. In the face of rapidly accelerating Turkish inflation, which reached 15.6% last month, the central bank policy rate had also been lifted by 200 basis points […] More

Counting Down the Days

October 20, 2020

It’s T-minus two weeks to the U.S. presidential and congressional election. In national polls, Biden leads by just under 10  percentage points, but suspense continues because of Trump’s refusal to say he will honor the result, the electoral college distortion that necessitates a Democrat to secure a 5% or greater popular vote plurality in order […] More

A Relatively Steady Dollar This Monday

July 20, 2020

This will be a light week from a data release standpoint, but many other factors are vying for investor attention as the period commenced. European Union leaders are in their fourth day of talks to find common ground on shared fiscal support against the Covid-19 recession. The U.S. congress returns from two weeks of recess […] More

Good Trade News but Unsettling Covid Developments

June 19, 2020

Share prices got a boost from an overnight report that China will step up purchases of U.S. agricultural goods. This comes after Thursday’s revelation in the Bolton tell-all book that Trump had solicited a boost in Chinese purchases to voter reelection support from the mid-west. Several populous U.S. states like California, Florida, and Texas continue […] More

Dollar Down After Fed Expands Currency Swap Network.. Equities Up in Asia and Europe

March 20, 2020

The dollar fell overnight by 2.9% against the Australian dollar, 2.5% relative to the kiwi, 2.2% versus sterling, 2.0% vis-a-vis the loonie, 0.8% against the peso, 0.6% versus the yen and 0.4% relative to the euro and Swiss franc. The swap line arrangement that enables central banks to exchange on a temporary basis their own […] More

Brexit Headed for Photo Finnish and a Lot of Chinese Data Released

October 18, 2019

A debate and vote on British Prime Minister Johnson’s deal with the EU is scheduled Saturday. He needs 318 yes votes for approval, and the outcome figures to be very close to that threshold. Johnson needs only a simple majority win. In a more perfectly designed political system of self-governance, a decision with such profound […] More

NY Fed President Moves Markets Unwittingly

July 19, 2019

John Williams, President of the NY Fed and a permanent member of the FOMC, gave an academic speech asserting that it’s best for central banks to respond quickly in the face of slower economic growth. Investors took his comment as the clearest sign yet that the federal funds rate will be cut at the FOMC […] More

Much Riding on Fed Chairman’s Press Conference

June 19, 2019

The dollar is unchanged from Tuesday closing levels against the yen, yuan, kiwi, and Australian dollar. The greenback has slipped 0.4% against the Swiss franc, 0.3% relative to sterling but just just 0.1% vis-a-vis the loonie and euro. U.S. President opened a fresh topic in the 24-hour news cycle, accusing ECB President Draghi and that […] More

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