German PPI
Calmer Waters
June 20, 2018
Share prices recovered 1.2% in Japan and Australia, 1.0% in South Korea, 0.7% in India, 0.4% in Hong Kong and 0.3% in China. U.S. and European equities have rebounded more moderately. The spin on a possible trade war is that the harsh rhetoric from officials in the U.S. and China is just threat to secure […] More
Deepening Trade War Concerns
March 20, 2018
The Fed’s two-day policy review starts today. The first post-meeting press conference of the Jay Powell era and a likely 25-basis point interest rate hike are tomorrow, and investors are anxious to see if there is a signal that four increases this year are more likely than two or three. But all this has been overshadowed […] More
U.S. Federal Government Shutdown at Midnight Still Possible
January 19, 2018
Talks to avert a U.S. fiscal shutdown at the end of today have degenerated into a 3-way circus. House Republicans passed a short-term fix that excludes DACA but enhances CHIP child support. President Trump’s tweets endorse the CHIP enticement only as part of a long-term solution and continue to insist on funding for the Mexican […] More
Rise in Sovereign Debt Yields Extended
December 20, 2017
The Senate approved the tax bill without any support from the Democrats by a vote of 51-48. All that remains is one final assured vote today in the House of Representatives and President Trump’s signature on the bill. This legislation is projected to boost economic growth in 2018 but also will raise federal deficit spending […] More
Natural Disasters, Manmade Disasters and Central Bank Meetings Top News
September 20, 2017
Puerto Rico is being hammered by a Cat 4 hurricane with 155 MPH winds. Mexico is reeling from a 7.2 magnitude earthquake that struck yesterday. Around 25o people confirmed dead. U.S. Republican senators are scrambling to pass a repeal and replace healthcare bill by monthend that’s even more dysfunctional than previous efforts. In a speech […] More
Somewhat Softer Dollar in Wake of G20 Meeting of Finance Ministers and Central Bank Chiefs
March 20, 2017
The dollar slipped overnight by 0.4% against the New Zealand and Australian dollars, 0.2% relative to the euro and sterling, and 0.1% vis-a-vis the Swiss franc. The dollar is unchanged against the loonie and up 0.2% versus the peso and 0.1% against the yen and yuan. The Japanese and Mexican markets are shut for the […] More
North American Holidays Dull Activity
February 20, 2017
The U.S. and Canada are closed for Presidents Day and Family Day. The dollar fell overseas by 0.4% against sterling. Britain’s House of Lords will be discussing whether to amend how Article 50, which will govern the Brexit process, is to be triggered. The dollar climbed half a percent against the rand. South African Finance […] More
China Releases a Whole Lot of Data as World Awaits Trump’s Inauguration
January 20, 2017
At 17:00 GMT (noon EST), Donald J. Trump will officially become the 45th president of the United States. The dollar rose overnight by 0.6% against the New Zealand dollar, 0.4% versus the loonie, 0.3% relative to the Aussie dollar, yen and sterling, 0.2% vis-a-vis the euro and peson, and 0.1% against the yuan and Swiss […] More
Super Dollar at the Expense of Bonds, Commodities and Now Even Stocks
November 18, 2016
The dollar hit overnight highs of JPY 110.94 and 1.0581 per euro. The dollar climbed 0.9% against the loonie, 0.4% relative to the Australian currency, and 0.2% versus sterling. The dollar advanced 0.4% against the Mexican peso in spite of another 50-basis point increase in the Bank of Mexico’s overnight interest rate to 5.25%. That rate […] More
Awaiting News from the Bank of Japan and FOMC
September 20, 2016
Monetary policymakers in Japan and the United States are holding two-day meetings on Tuesday and Wednesday. The BOJ decision will hit the wires around 04:00 GMT tomorrow. The FOMC statement is scheduled for 18:00 GMT on Wednesday. Neither meeting’s outcome is obvious. The BOJ is conducting an atypical full assessment of its policy stance, considering […] More
