Euroland industrial production

A Mostly Inconsequential Friday

November 12, 2021

The dollar marked time overnight. It’s weighted DXY value did not climb further after reaching highs on Thursday not seen since July 2020. The dollar is also unchanged from Thursday closing levels against the euro, yen, loonie, and kiwi, up 0.3% versus the Turkish lira and 0.2% against the Swiss franc but down 0.2% vis-a-vis […] More

Many Data Already Reported… Now Waiting for U.S. CPI and FOMC Minutes

October 13, 2021

The dollar slipped overnight by 0.3% against the Swiss franc and sterling, 0.2% versus the euro, peso and on a DXY weighted basis, and 0.1% relative to the Canadian dollar, Chinese yuan, and Turkish lira. Ten-year sovereign debt yields have dropped four basis points in Germany and five bps in the U.K. but only a […] More

Data Evidence of Higher Inflation and a Setback in Industrial Production

July 14, 2021

In overnight currency market action, the weighted dollar touched its highest level (92.83) since very early in April but subsequently settled back to 0.1% below its Monday closing level. Net dollar losses so far today are 0.4% versus the Mexican peso, 0.3% relative to sterling and 0.1% versus the yen, euro, loonie and Australian dollar. […] More

With an Eye Toward Wednesday’s FOMC Meeting, Markets in Pause Mode

June 14, 2021

The dollar is 0.1% softer on a weighted basis, and most key dollar currency pairs have barely moved from Friday closing levels. Not only are investors marking time until Wednesday’s FOMC announcement, but several markets were closed today (China, Taiwan, and Hong Kong for the Dragon Boat Festival and Australia for the Queen’s Birthday holiday). […] More

CPI Inflation Rose in April to 24-, 14- and 151-Month Highs Germany, France and the United States

May 12, 2021

Equity markets remain vulnerable to fears that higher inflation will compel central banks to raise interest rates sooner than forward guidance has been suggesting. Markets closed down today by 4.1% in Taiwan, 1.6% in Japan, 1.5% in South Korea, and 0.7% in Singapore and Australia. U.S. stock futures are somewhat lower, too. Share prices recovered […] More

Awaiting U.S. Import Prices, Jay Powell’s Speech and Fed’s Beige Book

April 14, 2021

The dollar fell 0.7% overnight against the New Zealand dollar and 0.5% relative to the Turkish lira and Australian dollar. But more senior dollar relationships such as the euro, yen, Swiss franc, sterling, and yuan, the dollar is barely changed and down just 0.1% in weighted terms. For the first time in years, markets have […] More

Large Rise in Dollar and Sovereign Debt Yields

March 12, 2021

Yesterday was a momentous day for the Biden Administration. He signed the nearly $1.9 trillion American Rescue Plan on the one-year anniversary of last year’s Covid lockdown and then gave his first prime time address to the nation, setting a goals for vaccinations and a start of permissible family gatherings. Overnight, the trade-weighted dollar climbed […] More

Revolting Developments in the United States but Dollar Narrowly Mixed

January 13, 2021

The United States experienced a new record high daily death count yesterday from Covid that exceeded 4.4k and was accompanied by almost 230k new reported cases of the illness. A drop of 10 years in the government’s recommended minimum age for getting a vaccine now and other sudden shifts in guidelines for administering the shot […] More

Risk On Despite Gigantic Hacking Incident

December 14, 2020

Russia again is being accused of an enormous cyber crime centered on Google. Many, many passwords have been compromised. Global Covid cases over the past 3 days (72 hours) totaled just slightly less than 2 million, and the worldwide death count was nearly 30k. There were almost 700k cases and over 6.5k deaths in the […] More

Lower Bond Yields, Mixed Dollar and Softer Equities in Face of Relentless Covid

November 12, 2020

Covid cases in the last 24 hours exceeded 600k and 140k globally and in the United States. Global and U.S. deaths from the illness over the past two days averaged more than 10k and 1.45k per day. While vaccine development seems to be making good progress, a new worry is that Covid’s ability to mutate […] More

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