German business climate index
A Wide Spectrum of Developments to Watch Today
October 25, 2023
Germany has been among Euroland’s weakest economies this year. Real GDP was flat in the second quarter following back-to-back contractions in the prior two quarters, and average GDP in the first half of 2023 was 0.2% below its year-earlier level. But today’s release of the IFO Institute’s October German business climate index offers a ray […] More
More Pessimism
May 24, 2023
The possibility of a U.S. debt default next month persists. Central Bank interest rates were raised today by 125 basis points in Iceland, 50 bps in Nigeria, and 25 bps in New Zealand. Europe’s largest economy has “suffered a setback” according to the May German business climate index compiled by the IFO Institute. Inflation according […] More
A Lack of Direction at Start of New Week
April 24, 2023
In financial market action around the world, the dollar is unchanged from its pre-weekend closing levels against the loonie, sterling, kiwi and Chinese yuan. There’s been a rise of 0.4% against the yen but a drop of 0.2% versus the euro and Swiss franc. U.S. equity futures have edged marginally lower in spite of a […] More
Several Central Bank Policy Meetings Elsewhere on This U.S. Thanksgiving Day
November 24, 2022
With the U.S. observing its quintessentially most unique holiday, the dollar continued to back off from recent highs, dropping 0.3% on a weighted DXY basis overnight and extending its cumulative decline from peak to 7.8%. The dollar lost 0.9% against the yen today and 0.6% versus sterling but just 0.1% relative to the euro. Prices […] More
Last Week of July Starts with Equities and Bond Yields Rising and Dollar and Bitcoin Falling
July 25, 2022
The dollar fell overnight by 0.6% against the peso and sterling, 0.4% versus the ruble and Australian and Canadian dollars, 0.3% relative to the euro but rose 0.3% against the yen, 0.2% versus the Swiss franc and 0.6% vis-a-vis the Turkish lira. The weighted DXY dollar index is 0.4% softer. U.S. equity futures point to […] More
Softer Dollar and Yen
June 24, 2022
The dollar firmed 0.2% overnight against the yen but otherwise slipped 0.3% against the Swiss franc, peso, and kiwi, 0.2% relative to the loonie and sterling, and 0.1% versus the euro and on a weighted DXY basis. Equity markets are headed for a weekly advance, which has been a rare occurrence in 2022. The street […] More
Macron Wins with 58.6% of the Vote but Recessionary Fears Extend Equity Losses Around the World
April 25, 2022
Although less than the 66.1% to 33.9% margin of victory in 2017, French President Macron was reelected, beating Le Pen by a greater margin than expected. His margin this time was still comfortable at 17.2% — 58.6% to 41.1%. Had Le Pen’s far-right National Rally captured the government, the unity of NATO against Russian aggression […] More
Stock Markets Drop in Wake of Week’s Spotlight on Central Banks and World Inflation
December 17, 2021
Other factors weighing on investor appetite for riskier assets include Omicron, whose true threat to public health and economic growth remains uncertain, and congressional paralysis over President Biden’s Build Back Better Bill. Two more central banks hiked their interest rates. The Bank of Mexico‘s increase late Thursday of 50 basis points to 5.5% reflected a […] More
Evergrande Misses Payment and Some Disappointing Data Reported
September 24, 2021
The dollar rose against most currencies overnight, including gains of 0.7% against the Aussie dollar, Mexican peso and Turkish lira, 0.6% relative to the New Zealand dollar, 0.3% vis-a-vis the loonie and sterling and 0.2% against the Japanese yen. But dips of 0.2% versus the euro and 0.1% against the Swissie suppressed net movement in […] More
Investor Mood Lifted by Vaccine Hopes and U.S. Transition Go-Ahead
November 24, 2020
The U.S. dollar is grinding lower but slowly and in an orderly fashion. The currency dropped 0.8% and 0.7%, respectively, overnight against the New Zealand and Australian dollars overnight but by only 0.2% relative to the euro and loonie, and it held steady versus the yen and sterling. Favorable vaccine news has created a sense […] More
