Japanese corporate service prices

Convergence of Fed-ECB Interest Rate Biases Sends Dollar Lower

October 26, 2022

The dollar has prospered throughout 2022 largely because the Federal Reserve had been seen as more aggressive in raising interest rates than the European Central Bank and other central banks. Today’s main market theme is that perhaps the monetary policy gap will not be as wide as thought previously. The ECB Governing Council will likely […] More

Tough Day for the Euro

July 26, 2022

The dollar strengthened 0.8% overnight against the euro and also rose by 0.5% versus the kiwi and sterling as well as 0.2% relative to the Australian dollar, peso, Turkish lira, and Canadian dollar. The Swiss franc only dipped 0.1% against the dollar, and the yen held unchanged. Today’s forex market action reflects concerns about Europe […] More

Long-Term Interest Rates Edge Higher

April 26, 2021

Ten-year sovereign debt yields this Monday are three basis points higher in the U.K. and United States, two bps higher in German and up a basis point in Japan. The dollar is marginally softer but above its overnight low on a weighted basis. The key EUR/USD and USD/JPY relationships are unchanged. The peso is also […] More

Christmas 2019 and All Is Calm

December 25, 2019

Many, many markets are closed today, including the United States, U.K., Germany, France, Italy, the Netherlands, Belgium, Portugal, Spain, Greece, Sweden, Norway, Ireland, Finland, Ukraine, Bulgaria, Czech Republic, Poland, Hungary, Romania, Austria, Slovakia, Estonia, Lithuania, Latvia, Switzerland, Croatia, Cyprus, Lebanon, Australia, New Zealand, Canada, Mexico, Brazil, India, Indonesia, Hong Kong, South Korea, Malaysia, Sri Lanka, […] More

Dollar Mostly Unchanged Overnight, Share Prices and Sovereign Debt Yields Slip a Bit

November 26, 2019

The dollar is unchanged from Monday closing levels against the yen, Swiss franc, kiwi and Australian dollar and has moved no more than 0.1% versus the euro, loonie, yuan and peso. A bigger dollar change of 0.4% occurred against sterling. The 10-year British gilt yield fell three basis points. Ten-year U.S. Treasury, German bund, and […] More

Continuing Confusion over Status of U.S.-Sino Trade Dispute

August 27, 2019

Monday’s mixed signals about whether there had been a weekend overture between Trump and Chinese officials to resume trade talks has not been clarified. The yuan meanwhile slid another 0.1% on net and touched an intra-day low of 7.1692 per dollar, 4.0% lower than its end-July value. Against other key currencies overnight, the dollar fell […] More

A Risk Averse Tuesday

June 25, 2019

Persistent concerns about U.S. relations with Iran and China are weighing on stocks and lifting the price of gold. Another worry is the greater perceived likelihood of a non-negotiated Brexit. Share prices in Asia fell 1.2% in Hong Kong, 0.9% in China, 0.7% in Taiwan and 0.4% in Japan. Stocks in Europe have declined so […] More

Equities Revive as Markets Look Ahead to FOMC and Kavanaugh Hearing

September 25, 2018

The FOMC is expected to raise its interest rate tomorrow. New forecasts will be released, and Powell presides over a press conference. A third woman has surfaced, accusing Supreme Court nominee Kavanaugh of sexual misconduct. The Senate Judiciary Committee hearing is set for Thursday. The third event of this upcoming three-ring circus will be the […] More

Paused Rise of Dollar and Sovereign Debt Yields but Commodity Rally Continued Overnight

April 24, 2018

The dollar slipped overnight by 0.2% against the Aussie dollar and sterling and 0.1% versus the euro. The kiwi and yen fell 0.3%, while the loonie is flat. The ten-year Treasury yield eased back a basis point and, at 2.97%, remains below the key 3.0% threshold. Ten-year German bund, British gilt and Japanese JGB yields […] More

Little Change in Dollar after Long Thanksgiving Holiday Break

November 27, 2017

The dollar turned into the final week of November, showing no overnight net movement against the loonie, Australian dollar or sterling, a dip of 0.1% against the euro and a 0.1% uptick relative to the Swiss franc. Slightly larger declines of 0.4% have occurred against the kiwi and yen. Commodity prices fell rather significantly. West […] More

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