Euroland PPI

Lacking Much Direction

August 3, 2021

The dollar drifted lower overnight, losing 0.4% against the peso and kiwi, 0.2% versus the Swiss franc, yen, Aussie dollar and sterling, and 0.1% relative to the euro and weighted DXY index. The dollar is unchanged against the yuan and 0.6% firmer against the Turkish lira. At an intra-day low of 1.15% and 1.17% currently, […] More

Awaiting U.S. Monthly Labor Situation Report

July 2, 2021

Amid lessening restrictions on travel, U.S. investors are anxious to get away for the long Independence Day weekend but first must get past today’s release of June jobs data. A larger employment increase than seen in April or May is anticipated along with a further dip of the jobless rate, which was 5.8% in the […] More

Expectations of Strong Growth Driving Financial Markets

May 5, 2021

The dollar rose by a marginal 0.1% overnight, gaining 0.2% against the Turkish lira and 0.1% versus the Mexican peso and euro, holding steady versu the yen, Swiss franc and yuan, and dipping 02% against the loonie and Australian dollar and by 0.1% vis-a-vis sterling. Markets remained close one more day in China (Labor Day) […] More

Service Sector PMI Surveys and a Whole Lot More Data This Wednesday

March 3, 2021

The dollar overnight rose 1.0% against the Mexican peso, 0.5% relative to the New Zealand dollar, 0.4% versus the Aussie dollar, 0.3% against sterling 0.2% on a trade-weighted basis and 0.1% versus the yen and loonie. Sterling has remained steady on net, by contrast, continuing a pattern of comparative strength since the start of this […] More

U.S. Political Stress, PMI Services, A U.S. Jobs Report Shocker, and FOMC Minutes on Today’s Radar Screen

January 6, 2021

In the Georgian senate runoff elections, Warnock has apparently beaten his Republican opponent, and Ossoff holds a razor-thin 50.2%/49.8% lead over the Republican incumbent with 98% of ballots counted. If these leads hold, Democrats would take over the senate majority. The congress is scheduled to tally the state certified presidential electoral voting results this afternoon […] More

Fourth Quarter Starts with Lower Dollar, Firmer Equity Prices, and a Slew of Manufacturing PMI Surveys

October 1, 2020

The dollar fell overnight by 0.5% against the Swiss franc, Australian dollar, kiwi and sterling, by 0.4% versus the euro and by 0.2% relative to the Canadian dollar. A particularly sharp 1.5% drop came at the expense of the Mexican peso. The dollar is steady against the yen. U.S. Covid-19 cases increased 42.5k over the […] More

Equities Still Well Bid for the Most Part

September 2, 2020

Fed Governor Brainard’s call for more fiscal and monetary stimulus encouraged the risk appetite of investors overnight especially in European trading. Ten-year German bund and British gilt yields fell by 3 basis points each, and stock markets have risen by 2.3% in France and Germany, 2.2% in Italy, 1.7% in Switzerland, and 1.6% in Great […] More

More Weak Data, More Holiday Closures, and a Few Monetary Policy Reviews

May 5, 2020

Markets didn’t trade today in China (Labor Day), Japan (Children’s Day), or South Korea (also Children’s Day). Share prices elsewhere in the Pacific Rim went up 1.6% in Australian, 1.1% in Hong Kong, 0.9% in Malaysia (aided by an interest rate cut), and 0.5% in Indonesia and Taiwan. India’s Sensex index fell 0.8%, but European […] More

Awaiting Weekly U.S. Jobless Insurance Claims Data

April 2, 2020

The stage for this week’s renewed financial market pessimism had been set a week ago when the Labor Department reported a record 3.283K upsurge in new jobless insurance claims for the week of March 21st, and now investors are bracing for an even greater increase of close to 4 million or more. The U.S. advance […] More

China’s Central Bank to the Rescue

February 4, 2020

Stock markets around the world rebounded sharply after the People’s Bank of China ease its monetary stance to counter the growth impact of the coronavirus epidemic, where cases now exceed 20k and include over 425 deaths. The PBOC on Monday reverse repo rates by 10 basis points and injected CNY 1.2 trillion of liquidity. That […] More

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