Euroland GDP
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
Higher Long-Term Interest Rates Lifts Dollar and Depresses Stocks and Commodities
September 7, 2021
10-year sovereign debt yields are five basis points higher in the United States and Great Britain and up four basis points in Germany. The 10-year Japanese JGB yield, by contrast, is unchanged. The dollar rose 0.4% overnight against the DXY weighted index. The yen (up 0.3%) has outpaced the 0.1% upticks in the euro and […] More
Dollar Up 0.2% Against Euro, yen and Weighted index on Final Business Day of July
July 30, 2021
The U.S. currency also climbed overnight by 0.3% against sterling and 0.1% relative to the Swiss franc. However, equities have dropped, especially in Japan (-1.8%), Hong Kong (-1.4%), New Zealand (-1.2%), Spain and Taiwan (each down 0.9%), but also in Indonesia (-0.8%), the U.S. (Nasdaq -0.6% and S&P 500 down 0.4%), the U.K. (-0.5%) and […] More
Narrowly Mixed Dollar… Tuesday Data Menu Features GDP
June 8, 2021
The dollar slipped overnight by 0.4% against the Mexican peso, 0.3% relative to the Turkish lira and 0.2% versus the Swiss franc but rose but 0.2% versus the kiwi and sterling and 0.1% relative to the euro, yen, and Australian dollar. There’s been no net change in the Chinese yuan or Canadian dollar. Ten-year sovereign […] More
