Euroland retail sales

Stocks and Bonds Down in Continuing Reaction to U.S. Jobs Leap Last Month

February 6, 2023

Equity markets fell this Monday by 2.0% in Hong Kong, 1.7% in South Korea, 1.3% in Taiwan, and 0.8% in China. The German, French and Spanish stock markets currently exhibit losses above 1.0%, and U.S. stock futures are down between 0.5% and 1.0%. 10-year sovereign debt yields jumped today by 12 basis points in Italy, […] More

Markets Unfazed So Far by Likelihood of a Big Republican Win in Today’s U.S. Midterm Election

November 8, 2022

The dollar strengthened overnight by 0.3% on a weighted basis. It went up 0.2% versus the Aussie dollar 0.3% against the euro, Swiss franc, Chinese yuan, New Zealand dollar and sterling and rose 0.7% relative to the Canadian dollar. There was also a 0.1% dip against the Japanese yen. The ten-year Treasury yield remains unchanged […] More

On Labor Day 2022, the Dollar Hits Fresh 20-Year High on DXY Weighted Index

September 5, 2022

U.S. and Canadian markets are closed for Labor Day observances. Former British Foreign Secretary Liz Truss has won the Conservative Party leadership vote and will succeed Boris Johnson as prime minister. She becomes the country’s third woman to hold that office, following Margaret Thatcher and Theresa May. Truss campaigned on an orthodox conservative agenda and […] More

Global Demand Starting to Be Constrained by Inflation and Tighter Monetary Policies

April 7, 2022

This week’s equity sell-off extended into Asian markets overnight. European losses, in contrast, have been reversed partly, and U.S. stock futures are little changed. Equities dropped between 1% and 2% in Taiwan, Japan, China, Hong Kong, and India but have rebounded so far by 1.3% in Spain and Italy, 0.9% in France, and 0.7% in […] More

Broadly Based Improvement of Dollar and Intensifying Decline of Stock Markets Around the World

March 4, 2022

Shortly before today’s release of February U.S. labor statistics, the dollar was up 0.8% in weighted terms at the peak of its overnight movement and on at its most appreciated levels since May 2020. Individual dollar advances were by 3.5% against the Russian ruble, 1.2% versus the euro, 0.9% relative to the Turkish lira 0.6% […] More

Euro Up Against the Dollar and Other European Currencies

February 4, 2022

The euro climbed overnight by half a percent against the dollar, which otherwise rose 0.2% against the Swiss franc and sterling, 0.3% versus the loonie, 0.4% relative to the kiwi, and 0.5% vis-a-vis the Aussie dollar. Equity markets remain very volatile ahead of today’s report of January U.S. labor market statistics. The ADP estimate of […] More

Dollar Back Close to 52-Week High Ahead of U.S. October Jobs Report

November 5, 2021

The weighted DXY dollar index is presently trading almost back at its one-year high. It rose overnight by 0.2% against the euro and 0.1% relative to the yen and loonie and scored even larger gains of 0.5% against the Swiss franc and Australian dollar and 0.4% relative to the New Zealand dollar, Mexican peso and […] More

A Negative U.S. Jobs Surprise and Global Covid Cases Climbs Above 200 million Threshold

August 4, 2021

Wednesday brought two pieces of discouraging news. ADP’s 330k monthly estimate of private U.S. employment growth in July was only about half as much as forecasters were anticipating, down from a 2Q average of 729k per month, and the lowest increase since February. Fed officials have made clear that labor market trends will exert very […] More

Mixed Data Signals and Another Central Bank Shifts its Stance Ever So Slightly

July 6, 2021

The dollar slid 0.1% against its DXY weighted index overnight, with drops of 0.9% against the kiwi, 0.6% versus the Australian dollar, 0.3% relative to the yen, and 0.2% vis-a-vis the Mexican peso. The dollar also firmed 0.2% against the euro and loonie and 0.1% against the Swiss franc. The Turkish lira, Chinese yuan and […] More

Marking Time Ahead of U.S. Monthly Jobs Report

June 4, 2021

Financial markets were marking time overnight. The dollar was virtually unchanged but at multi-week highs, with no net movement against its DXY weighted index, a dip of 0.2% versus the yen and a 0.1% uptick relative to the euro. The price of gold was flat, while that of WTI oil had firmed merely 0.2%. U.S. […] More

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