German GDP
German Recession Confirmed and Interest Rate Decisions in South Korea, Turkey and Indonesia
May 25, 2023
U.S. GDP data will be released shortly. In the meantime, German GDP growth last quarter was revised to -0.3% (not annualized) from zero percent reported originally. That’s the second negative quarter in a row and the third drop in the past four quarter, resulting in a negative year-on-year growth rate of -0.5% as well. The […] More
Dollar Strengthens Ahead of Release of U.S. Personal Consumption Price Deflator
February 24, 2023
Broad-based dollar strength overnight has yielded appreciations of 0.8% against the Australian and New Zealand dollars, 0.7% relative to the yen, 0.5% versus the yuan, 0.4% vis-a-vis the loonie, peso and sterling and 0.3% against the euro. The weighted DXY dollar index is 3.6% above its level at the start of this month. Ten-year sovereign […] More
Share and Bond Prices Fall, Dollar Little Changed Ahead of Tuesday-Wednesday FOMC Meeting
January 30, 2023
U.S. equity futures point to a drop of around 1% at the opening bell. Share prices closed down 2.7% in Hong Kong, 1.4% in South Korea, 0.5% in Singapore, 0.4% in Indonesia but up 0.2% in Japan and 0.1% in China. Major European stock exchanges are down about 0.5% thus far. Ten-year sovereign bond yields […] More
Stronger Dollar After Another U.S. Gun Massacre
May 25, 2022
The dollar strengthened 0.4% overnight on a weighted basis, rising 0.7% against the euro, 0.6% versus the Australian dollar, 0.4% vis-a-vis the Swiss franc, and 09.3% relative to the Canadian dollar, Russian ruble, Mexican peso and sterling. U.S. stock indices are essentially flat in futures trading, and so is the 10-year U.S. Treasury yield. The […] More
Much Data to Peruse on a Snowy Friday
January 28, 2022
But first, a quick rundown of overnight market movement. The DXY weighted dollar index touched an 18-month high of 97.44 but is steady on balance. There’s been no net movement against the euro, Swissie or peso, dips of 0.2% against the yuan and Turkish lira, and upticks of 0.6% against the Aussie dollar, 0.3% relative […] More
Equities Tumbling Anew as Inflation and Interest Rates Climb
January 14, 2022
The dollar overnight rose 0.1% against the euro and on a weighted basis, held unchanged against the Swiss franc and sterling and fell 0.3% versus the yen. Share prices dropped 1.3% in Japan, 1.4% in South Korea, 1.1% in Australia, and 1.0% in South Korea. The German Dax and Paris Cac show losses so far […] More
Flat Dollar Ahead of Emergency G7 Leaders Meeting
August 24, 2021
Dollar rates against the euro, yen, Swiss franc and DXY weighted index are unchanged from Monday closing levels. The U.S. currency has not done as well against commodity-sensitive currencies, falling by 0.7% versus the kiwi, 0.5% against the Australian dollar, 0.2% vis-a-vis the loonie, and 0.1% versus the Chinese yuan and Mexican peso. One currency […] More
Dollar Slips to Lowest Level Since First Week of 2021
May 25, 2021
Several Fed officials speaking yesterday reaffirmed commitment to current stance for some time longer. In response, the dollar fell 0.4% against the euro, 0.2% versus the Swiss franc, Australian dollar, Chinese yuan, Mexican peso, and its weighted index, and by 0.1% relative to the loonie and sterling. The dollar also firmed 0.1% against the Japanese […] More
Tension on Several Fronts but Market Moves Muted Overnight
January 14, 2021
President Trump has been impeached by the House of Representatives for the second time in 13 months. The Senate trial will commence soon after he leaves office. New Covid cases and deaths remain highly elevated in many countries. The British daily death toll set a record yesterday. Bank of Japan Governor Kuroda said monetary stimulus […] 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
