Euroland unemployment and CPI
The Morning After… Kicking Off a New Month
February 1, 2024
U.S. share prices reacted poorly to Fed Chairman Powell’s press conference, ending January’s stellar month on a downbeat. Pre-market futures trading today suggest yesterday’s loss will be partly trimmed. Powell didn’t explicitly rule out a rate cut in March but indicated that a reduction then is not in the baseline forecast. More generally, he applauded […] More
A Typical Quarter-End Deluge of Economic Data
March 31, 2023
Prior to the U.S. release of personal income and spending, the dollar was showing overnight gains of 0.4% against the Swiss franc, Japanese yen and Australian dollar and of 0.3% versus the euro and on a weighted basis as measured by the DXY index. Nonetheless, the dollar over the whole first quarter lost ground on […] More
Dollar Buoyed by Higher U.S. Long-Term Interest Rates and Reinvigorated Hawkish Fedspeak
March 2, 2023
In overnight action, the dollar advanced 0.6% against the euro, sterling, yuan and kiwi and by 0.5% relative to the yen and Australian dollar. At 4.07%, the ten-year U.S. Treasury yield has climbed 8 basis points today and 67 basis points over the four weeks since February 2nd. The Federal Reserve District presidents in Minnesota […] More
Dollar Loses More Ground as Trump’s Reelection Prospects Improve
September 1, 2020
On the heels of a weak performance in August, the dollar fell another 0.8% against sterling overnight and also lost 0.5% relative to the euro, kiwi, and peso, 0.4% versus the yuan, 0.3% vis-a-vis the loonie, and 0.1% against the yen and Australian dollar. It also costs more dollars today than yesterday to buy commodities […] More
Busy Session on Last Business Day of August
August 30, 2019
A heap of economic data have been released, but also the following important geopolitical developments have occurred. A Scottish judge denied a court challenge to block Prime Minister Johnson’s plan to suspend parliament for a couple of weeks and thereby prevent parliament from organizing to prevent a hard Brexit if no deal can be reached. […] More
Dollar Down, Stocks Up, and Intra-Euroland Yield Spreads Contract Further
May 31, 2018
While the 10-year German bund yield remained unchanged overnight, comparable sovereign debt yields elsewhere in the euro area fell by 11 basis points in Italy, six basis points in Portugal and Greece and 3 bps in Spain despite Prime Minister Rajoy’s fragile hold on political power. The dollar weakened 0.4% against the euro, Swiss franc, […] More
Sino-U.S. Trade Dispute Evolves Into Deeper Conflict and Rattles Markets
April 4, 2018
As a presidential candidate, Trump prioritized the U.S. trade imbalance, which he blamed on unfair practices of America’s trading partners. But as president, he acted initially on many other issues, while doing little about trade. Then came the U.S. tariffs on steel and aluminum, which by themselves affected only a sliver of commerce. A month […] More
Last Day of May Chocked Full of News
May 31, 2017
There’s an official report today that President Trump has decided to pull the United States out of the Paris climate change accord. White House advisers had been split on this issue. With Britain’s election set for a week from tomorrow, polls reflect a continuing narrowing of the Conservative Party’s lead. A 2.8% overnight plunge in […] More
Overseas Share Prices Didn’t Follow Yesterday’s U.S. Rally
March 2, 2017
Stocks were mixed in the Pacific Rim. While Australia’s bourse climbed 1.3% and the Japanese and Indonesian markets went up 0.8%, stocks fell 0.2% in Hong Kong and 0.5% in India. In Europe, the Greek and Spanish markets are flat, and the German and British ones have dipped 0.1%. U.S. futures are a tad down. […] More
End of August
August 31, 2016
Investors are less worried about European growth and more confident the Fed will lift rates soon at the end of the month than they were at the start of August. A lot of data was released on this final trading session of the month. The dollar is down 0.4% against sterling. Britain’s Nationwide house price […] More
