Euroland money and credit growth
Another Record Daily High in New Covid-19 Infections
June 26, 2020
Over the past 24 hours, new coronavirus cases and deaths in the United States rose by 41,735 and 2,491. Total reported U.S. cases moved marginally above 2.5 million, but in a chilling portent of the possible future trend, medical officials believe that outstanding U.S. infections may be as much as ten times greater than the […] More
More Evidence that Tariffs Are Hurting Manufacturing All Over
July 24, 2019
Preliminary purchasing manager survey results from July in Japan, Australia, Euroland, and the U.S. were published today, and their main message is that trade wars hurt just about everybody. Japan’s manufacturing PMI printed below 50 for a third straight month and the fifth time in six months. Readings under 50 imply a contraction of activity. […] More
Weaker Turkish, South African and British Currencies
March 28, 2019
The Turkish lira slumped 5% against the dollar overnight when Turkish reserves data showed a large drop from previous intervention to support that currency. Still no word from the South African Reserve Bank’s monetary policy review, but analysts aren’t anticipating a rate hike. However, there is concern ahead of Moody’s sovereign debt call on South […] More
Dollar and Equities Strengthening on Final Day of April
April 30, 2018
The dollar shows overnight gains of 0.6% against the kiwi and peso, 0.5% versus the Australian dollar, 0.4% relative to the euro and sterling, and 0.3% vis-a-vis the yen, loonie and Swiss franc. The Japanese and Chinese markets were closed today for Showa Day and Labor Day, respectively. Markets in China will remain shut tomorrow […] More
Mr. Trump Goes to Davos
January 26, 2018
While at the World Economic Forum, President Trump in interview said some unexpected things, like he seeks a stronger, not weaker dollar, and expects the currency to strengthen eventually. Rarer yet, he seemed to apologize for tweets that may have ruffled U.S. relations with Great Britain. And finally, trade is fine, so long as it’s […] More
Dollar Rises and Long-Term Sovereign Debt Yields Spike Upward
September 27, 2017
The dollar advanced overnight by 0.9% against the Mexican peso, 0.6% versus the yen and Swiss franc, 0.4% relative to the euro, and 0.3% vis-a-vis the Aussie dollar, loonie and sterling. The yuan is flat, and the kiwi edged up 0.1%. Ten-year German bund and British gilt yields leaped six and five basis points. Futures […] More
Stronger Yen as End-2014 Draws Closer
December 30, 2014
The dollar fell 1.0% against the Japanese yen on balance and got as strong overnight as 119.18 at one point, its best level since December 19. The yen was buoyed by the Bank of Japan’s announcement that it will be buying JGBs with longer maturities. The yen’s overnight high against the euro was 145.11. The […] More
A Substantial Downward Break in Share Prices
February 27, 2012
Equities dropped by 2.7% in India, 1.9% in The Philippines, 1.6% in Sri Lanka, 1.4% in South Korea, 1.1% in Singapore, 1.0% in Thailand, and 0.9% in Australia, Indonesia and Hong Kong. In Europe, the British Ftse has so far lost 1.5%, and the German Dax and Paris Cac show declines of 1.2%. Japan’s Nikkei […] More
