Japanese consumer confidence
Dollar Firms Modestly; Equity Markets are Mixed
January 8, 2020
The dollar recorded overnight gains of 0.3% against the euro, 0.2% versus the yen and sterling, and 0.1% vis-a-vis the loonie. The dollar remains unchanged relative to the yuan, Swiss franc and kiwi. ADP estimates that U.S. private-sector employment increased last month by a robust 202k, beating November’s result and exceeding analyst expectations. There was […] More
Nervous Market Tone Continuing
October 2, 2019
Investors remain leery that policymakers are up to the task of containing the slowdown of global growth. Monetary stimulus has grown old and less effective, while fiscal support is largely missing in action. The trade war motors on even as evidence such as the September purchasing manager surveys show that nobody wins. British Prime Minister […] More
Some Weak Data from Japan and Germany and No End to U.S. Government Shutdown
January 8, 2019
Consumer confidence in Japan ended 2018 at a 25-month low. A 1.9% plunge in German industrial production in November has raised the risk of a second consecutive quarterly contraction of real GDP in Europe’s largest economy. GDP fell 0.2% in the third quarter, and industrial output posted back-to-back month-on-month declines of 0.8% in October and […] More
Intensifying Concern that Euro Area Is Drifting Into a Fresh Debt Crisis over Italy
October 2, 2018
A quote from European Commission President Jean-Claude Junker set the tone for trading today: “I would not wish that, after having really been able to cope with the Greek crisis, we’ll end up in the same crisis in Italy.” Ten-year sovereign debt yields, while dropping today by 3 basis points in France, Germany, The Netherlands, […] More
An FOMC Announcement and Lots of Data Releases
May 2, 2018
In this second day of the third FOMC policy review of 2018, a statement will be released at 14:00 EDT (18:00 GMT). No rate changed is expected, and no subsequent press conference is scheduled. The fed funds target was last raised at the prior March 21-22 meeting. In light of further evidence of rising inflation, […] More
Upbeat Investor Mood in Spite of Vegas Tragedy
October 3, 2017
The dollar rose overnight by 0.3% against the yen and kiwi, 0.2% relative to the peso and 0.1% vis-a-vis the Australian dollar. The dollar also drifted 0.2% lower against the euro and 0.1% versus the loonie and Swiss franc. Both gold and oil slipped 0.2% overnight. The Chinese, German and South Korean markets are closed. […] More
Investors Confident Today’s U.S. Jobs Report Will Be Solid
June 2, 2017
There’s also been an out-sized 3.1% drop in the price of West Texas Intermediate crude oil to $46.86 per barrel. Metal prices including gold are down as well. The dollar and stocks continue to shrug off Trumpian meshugas. The dollar is unchanged against the euro, Swiss franc and loonie and 0.2% higher versus the yuan, breaking […] More
Greater Calm
January 10, 2017
Not much is happening this Tuesday. Several data releases corroborate other recent indications of improving global growth, mounting confidence, and rising inflation around the world. The dollar is unchanged against the euro and Swiss franc, up 0.1% versus the Australian and Canadian monies as well as sterling but down 0.2% relative to the yuan and […] More
Chinese Trade Data, German Industrial Orders, More Greek Austerity, and an Austrian Political Crisis
May 9, 2016
China reported a wider $45.6 billion current account surplus in April, but that increase was overshadowed by a larger 10.9% on-year drop in imports and a return to on-year slippage in exports which fell by 1.8%. Chinese reserves increased $6.4 billion on month to $3.219 trillion. German factory orders recovered more strongly than expected in […] More
