Euroland GDP

Softer World Growth Troubling Stocks

September 7, 2023

In the Federal Reserve Bank Beige Book of regional economic conditions released yesterday, only the Dallas district had better than modest growth, and even that regional economy was tarnished by uneven activity across sectors. Four districts stagnated, and the Philly district experienced a modest contraction of activity. Second-quarter GDP in the euro area has been […] More

Japanese and Euroland GDP Reported… Also Monetary Policy Decisions in India and Serbia

June 8, 2023

The dollar slipped further overnight, losing 0.5% against the Australian dollar, 0.4% versus the kiwi, 0.3% relative to the yen and euro, and 0.2% against the Swiss franc and sterling. One currency that fell against the dollar was the Turkish lira, which dropped 0.4% additionally. With both the European Central Bank and possibly the Federal […] More

Powell’s Hawkish Message Received Along With Some Data Surprises

March 8, 2023

TINA is the acronym for there-is-no-alternative, and that is the unflinching stance that the Federal Reserve wants to convey regarding its priority to restore in-target two percent inflation whatever such takes. In day one of Chairman Powell’s semi-annual testimony before congress yesterday, that message was expressed more forcefully than before including the surprise hint that […] More

Heavy Data Menu, Updated IMF World Economic Outlook, and the FOMC Begins Two-Day Policy Review

January 31, 2023

On this last day of January, the weighted DXY dollar index has edged 0.1% higher but will post its fourth monthly decline in a row. Overnight dollar rises were strongest against the the Aussie dollar (0.9%), kiwi (0.6%), and sterling and loonie (both up 0.4%), but the euro slid only 0.1%, the Swiss franc is […] More

Equity Wobbles Continue

December 7, 2022

Warnack won the Georgia senatorial runoff election, giving the Democrats a narrow senate majority plus the presidency for the coming two years, but Republicans now control the U.S. House of Representatives and have a solid grip on the Supreme Court for the foreseeable future. The dollar overnight dropped 0.5% against sterling, 0.4% relative to the […] More

A Busy Wednesday as Central Banks Compete with Data for Market Attention

September 7, 2022

Dollar strength continues, with another 20-year high touched overnight by the weighted DXY index. At 144.98, the dollar climbed 1.4% overnight and to its highest Japanese yen value since August 1998 when the Asian debt crisis was raging. The greenback also has advanced 0.8% versus sterling and 0.3% vis-a-vis the Canadian, Australian and New Zealand […] More

Investors Spooked Ahead of Today’s FOMC Minutes, Not Reacting Immediately to Other Data

August 17, 2022

FOMC Minutes due at 14:00 EDT are expected to accentuate the primacy of restoring price stability even if that means a continuing rapid rise of interest rates amid a slowing economy. The dollar, which has done well in times when the mood has turned risk averse, advanced overnight by 1.2% against the Australian dollar, 0.9% […] More

Few Rays of Hope

May 17, 2022

Euroland GDP growth last quarter was revised marginally higher. British labor market data showed greater resilience than imagined, and Chinese officials indicated progress against Covid and plans to reopen Shanghai. Recent U.S. earnings reports from retailers have exceeded expectations. Share prices rallied Tuesday, closing up 3.3% in Hong Kong, 2.6% in India, 1.0% in Taiwan, […] More

The Fact of Inflation Persistence is More Certain than Russia’s Claim to Be Partially Pulling Troops Back from the Russian Border

February 15, 2022

Stock markets rebounded Tuesday on reports out of Russia that some military forces at the border with Ukraine will be pulled back. President Putin’s real intentions remain to be seen. Nonetheless, Putin wasn’t expected to flinch, so the unexpected nature of his action triggered an initial sigh of relief from investors. Prices of WTI oil […] More

Dollar and Equity Markets Extend Recoveries

December 7, 2021

Identified Covid cases in America are zeroing in on the 50 million level since the start of the pandemic, including almost 119k cases yesterday. But there has been a sense of relief in the absence so far of evidence that the Omicron Variant will be associated with higher rates of hospitalization or deaths. Investors are […] More