German trade balance
Quick Shift in Market Focus from U.S. Political Chaos to the Price of Oil and Tomorrow’s U.S. Jobs Report
October 5, 2023
The price of West Texas Intermediate crude oil plunged around 12% from last Friday’s high of $93.68 to an overnight low of $82.35. The much lower-than-presumed 89k estimated September rise in private U.S. jobs by ADP has raised concerns about U.S. and world demand. So has a surprisingly big increase in U.S. oil inventories last […] More
Price of Oil Back in the Spotlight
June 5, 2023
At the weekend’s meeting of OPEC plus oil ministers, Saudi Arabia announced a further production cut of one million barrels barrels per day, effective July 1, and WTI oil is trading 2.6% higher as a result although about $1.5 below today’s earlier peak. The dollar has opened the week on an up beat, with gains […] More
New Woes for Crypto… Service Sector Purchasing Manager Surveys Beat Expectations
March 3, 2023
The price of Bitcoin tokens plunged around 5% overnight. The dollar has declined 0.4% against the Swiss franc and yen, 0.3% versus sterling and the Australian dollar, but just 0.1% relative to the euro. It’s been an up day by and large for equities, with gains of 1.6% in Japan, 1.5% in India, 0.7% in […] More
U.S. Data Out Today Supports Fed Message that a Rate Cut in 2023 is Highly Doubtful
January 5, 2023
The 2022 dynamic of progressively tighter Fed policy supporting the dollar and depressing stocks and bonds remains intact. Minutes from the December FOMC meeting project higher interest rates persisting for some time and indicates that market valuations that imply an initial rate cut late in 2023 are premature. Although inflation cooled in recent months in […] More
Broadly Based Improvement of Dollar and Intensifying Decline of Stock Markets Around the World
March 4, 2022
Shortly before today’s release of February U.S. labor statistics, the dollar was up 0.8% in weighted terms at the peak of its overnight movement and on at its most appreciated levels since May 2020. Individual dollar advances were by 3.5% against the Russian ruble, 1.2% versus the euro, 0.9% relative to the Turkish lira 0.6% […] More
Gloom Continues over Euro Debt Problems
April 10, 2012
The Easter break is over, and investors continue to fret about Europe’s debt issues. The IMF will be releasing a new World Economic Outlook today. The Spanish-German 10-year sovereign debt yield spread widened to 5-month high. Post-holiday opening levels of ten-year German bund and British gilt yields show steep drops of five and eight basis […] More
Suspense in Greek and Italian Politics
November 8, 2011
The dollar is unchanged overnight against the yen and euro but otherwise mixed. The U.S. currency slid by 0.5% against the Swiss franc and 0.1% versus the yuan and sterling but has risen against commodity currencies. It is up 1.5% against the kiwi, 0.5% relative to the Aussie dollar and 0.3% against the loonie. From […] More
