French industrial production
Much Data in Spite of U.S. Holiday
July 5, 2021
Monday’s menu of economic data releases includes over 30 purchasing manager surveys, French industrial production, British and German new car sales, Turkey’s CPI and PPI, Australian and Singaporean retail sales, and consumer confidence in Spain, Mexico and the Philippines. Fissures have developed in OPEC unity over production quotas. Observances continue of America’s 245th birthday. Today […] More
Good Friday 2020
April 10, 2020
With so many countries closed for Good Friday, there’s been no leadership to move world financial markets. The dollar is flat to -0.1% against other key currencies. The 10-year Japanese JGB yield is two basis points lower, while other sovereign debt markets are shut. Equity trading has been minimal, with Europe, Australia, New Zealand, Hong […] More
Little Overnight Change in the Dollar
December 10, 2019
The dollar rose 0.3% against sterling and the Australian dollar but shows nil overnight change otherwise. Stocks were narrowly mixed in the Pacific Rim and are down slightly in Europe. There been little share price movement in the U.S. thus far today. Ten-year sovereign debt yields firmed three basis points in Great Britain as the […] More
Global Slowdown Concerns Remain in Play
January 10, 2019
FOMC minutes yesterday revealed less clarity about the future path of the fed funds target. Some committee members had been hesitant to endorse December’s rate hike, the ninth of this tightening cycle, although a consensus persists that a few more increase are probable in the future. Ultimately, policy will be reactive to the data, and […] More
In Suspense Ahead of Tariff Announcements
September 7, 2018
President Trump is expected to announce a huge ramp-up in tariffs next week, especially on imports of Chinese goods, and China will no to retaliate in kind. Some pundits worry this escalating trade war will hammer U.S. equities, depress U.S. growth, lift U.S. inflation, and further incentivize the FOMC to raise interest rates. Stocks in […] More
Renewed Pressure on Ezone Peripheral Sovereign Debt
February 10, 2017
The dollar rose on speculation that details of growth-supporting U.S. tax reform will be unveiled within a couple of weeks. The U.S. currency rose 0.3% against the yen, euro and sterling, 0.2% relative to the Swiss franc and 0.1% vis-a-vis the Australian dollar and Chinese yuan. The Mexican peso recovered 0.3% following a 50-basis point […] More
Greater Calm
January 10, 2017
Not much is happening this Tuesday. Several data releases corroborate other recent indications of improving global growth, mounting confidence, and rising inflation around the world. The dollar is unchanged against the euro and Swiss franc, up 0.1% versus the Australian and Canadian monies as well as sterling but down 0.2% relative to the yuan and […] More
Lower Dollar as Hopes Dim over Nearness of Next Federal Reserve Rate Hike
August 10, 2016
Today’s main financial theme is the persistent weakness of global growth. The 10-year British gilt yield fell six basis points to a new record low of 0.52% in the U.K. versus 1.43% at the end of May. Ten-year German bund and Japanese JGB yields are 2 basis points lower and each quite negative at -0.10% […] More
Softer Yen on this Japanese Holiday
February 11, 2013
Trading today was subdued by market closures in Japan and China. Japan is celebrating National Foundation Day, a patriotic commemoration of the accession of the country’s first emperor. China will be shut most of this week for the Chinese Lunar New Year, which ushers in the year of the snake. The biggest news of the […] More
Disturbing Trade Data from China
August 10, 2012
Risk appetite took a hit from poor Chinese trade numbers. Share prices are down 0.9% in Spain, 0.8% in France, 0.5% in Germany and 0.2% in Britain. Stocks fell by 0.7% in Hong Kong and Australia, 0.5% in China, and 1.0% in Japan. The dollar has advanced 0.6% against the Australian dollar, which fell in […] More
