German industrial orders
Bottom Fishing
August 6, 2024
After Monday’s historically sharp movements across many financial market types, investors overnight and early today took a chance on those movements being overdone but remained cognizant of the risk for aftershocks. The backdrop to Monday’s selloff remains pretty much intact, and today’s additional news hasn’t been particularly remarkable. One continuing concern is the potential for […] More
Investors Focused on Monetary Policies, Inflation, and Biden’s State of the Union Address Tonight
March 7, 2024
Scheduled monetary policy reviews at the European Central Bank, National Bank of Serbia, and Central Bank of Malaysia left key interest rates unchanged at 4.5%, 6.5%, and 3.0%, respectively. No changes had been expected. Bank of Japan Board member Nakagawa made remarks affirming that Japan’s economy is closer to achieving the central bank’s inflation target […] More
Investors Still Unsure about the Coming Down-Path of Interest Rates
February 6, 2024
The DXY weighted dollar index strengthened 0.3% overnight to its strongest level since mid-November. Dollar values against the yen and euro are currently hovering near overnight peak of 148.78 per dollar and $1.0722. Equities in China and Hong Kong recovered an additional 3.2% and 4.0% this Tuesday, lifted by new Chinese restrictions to limit speculative […] More
Awaiting Chairman Powell’s Semi-Annual Congressional Testimony
March 7, 2023
Formerly known as the Humphrey-Hawkins testimony, Fed Chairman Powell will testify about how the Fed sees the U.S. economy and inflation evolving before the Senate Banking Committee today at 10:00 (15:00 GMT) and the House Financial Services Committee tomorrow. Investors particularly will glean his remarks for clarification of what monetary officials need to see before […] 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
Bitcoin Plunged, Dollar and Price of Oil Rose, and Equities Mixed
December 6, 2021
From $56,830 on Friday to $46,648 on Saturday, the price of a Bitcoin dived more than 15%. At $48,251 now, the price remains about 30% below its record peak. The dollar is benefiting from a belief that Fed policy over the coming six months will pay more attention to containing the spike in inflation than […] More
Dollar Reverses Friday’s Drop on This Monday Labor Day
September 6, 2021
The initial dollar response to a disappointing U.S. August jobs report had been downward, but the U.S. currency advanced in overnight trading by 0.3% against its weighted DXY index, the Swiss franc, sterling and Australian dollar, by 0.2% relative to the Canadian dollar and euro and by 0.1% vis-a-vis the Japanese yen. U.S. and Canadian […] More
Dollar Dips as U.S. Covid Cases Swell and Trade Deficit Climbs to Record High in June
August 5, 2021
U.S. Covid-19 cases rose to 96.0k yesterday from 92.6k on Tuesday. The United States goods and services trade deficit of $75.749 in June was a record monthly high. The first-half deficit of $428.6 billion was 46% greater than in the first half of 2020. The Bank of England’s Monetary Policy Committee again voted unanimously to […] 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
Generally Quiet Financial Markets This Morning
June 7, 2021
Compared to Friday closing levels, the U.S. dollar is unchanged against the yuan and euro, 0.1% softer versus the yen, loonie, Swissie and sterling, and down 0.2% relative to the Australian and New Zealand dollars. Stock markets in Asia closed down 0.5% in Hong Kong and 0.4% in Taiwan but up by 0.8% in Singapore, […] More
