Japanese industrial production
Temporary Reciprocal Tariff Pause on Tech Lifts Equities But Dollar Continues to Weaken
April 14, 2025
(196) The dollar fell overnight by 0.9% against sterling, 0.8% versus the Mexican peso and New Zealand’s currency, 0.6% relative to the Aussie dollar, 0.2% vis-a-vis the loonie, and 0.3% against the Japanese yen and euro. Intra-day lows of 1.1424 per euro and JPN 142.2 constituted the dollar’s lowest value in 39 and 6 months, […] More
Dollar Kicks Off Week on a Positive Note
October 14, 2024
The weighted DXY dollar index rose 0.3% overnight to a nine-week high, with gains of 0.6% against the Swiss franc, kiwi and Aussie dollar, 0.4% relative to the Japanese yen, 0.3% versus the Chinese yuan and 0.2% vis-a-vis the euro, loonie, and sterling. Holidays today: Japan was closed for Health-Sports Day, and Canadians will be […] More
Yen Slides 0.9% in Spite of First Bank of Japan Interest Rate Hike Since February 2007
March 19, 2024
The Bank of Japan‘s ended “yield curve control”, a negative short-term interest rate target, and asset purchases other than government bonds and restored the primacy of its overnight rate — now 0-0.1% — as its primary policy tool. These changes were justified by the greater-than-expected 5% wage increases that came out of this year’s spring […] More
U.S. Equities Not Out of the Woods and Yen Drops After BOJ Policy Tweet
October 31, 2023
Yesterday’s 1.2-1.6% advance in major U.S. stock market indices appears more a case of bottom-fishing than the start of an uptrend. The FOMC’s two-day policy review that starts today isn’t expected to result in an interest rate hike, but the post-meeting press conference will likely strike a hawkish tone in light of recent robust U.S. […] More
Capping a Big Week in Financial Markets Driven By Lower Inflation Readings
July 14, 2023
In the past week, the Dow Jones Industrial Average has jumped 1000 points, the 10-year U.S. Treasury yield has plunged 28 basis points, and the dollar has depreciated 2.7% against the yen and 2.4% against the euro. If inflation continues to recede, the Federal Reserve may not need to lift interest rates as much as […] More
Central Bank Interest Rates Back in the Spotlight
June 20, 2023
Tuesday has been a more active day in financial markets than Monday, with the return of U.S. leadership after yesterday’s Juneteenth holiday. The dollar has been mixed, dropping 0.3% against the yen and 0.1% versus the euro but advancing 1.0% relative to the Australian currency, 0.5% vis-a-vis the kiwi, 0.4% against the Turkish lira, 0.3% […] More
Investors More Hopeful Than Yesterday about Debt Ceiling Talks
May 17, 2023
The dollar rose overnight by 0.8% against the Mexican peso, 0.6% versus the Japanese yen and Swiss franc, and 0.4% relative to the euro. The Japanese Nikkei closed up 0.8%, but share prices in Hong Kong, Singapore, South Korea, India and Australia closed lower. Continental European equities are slightly higher, and so are the DOW […] More
Stronger Dollar, Higher Long-Term Interest Rates, and Softer Equities
April 19, 2023
Equities in the United States are down over a half percent in futures trading as investors react to the latest batch of reported corporate earnings. European shares are only marginally lower. In Asia, stocks closed down 1.4% in Hong Kong, 0.7% in China, 0.3% in India and 0.2% in Japan. The Fed Beige Book of […] More
Dollar Well-Bid Ahead of Tomorrow’s FOMC Rate Hike and Today’s PPI Report
June 14, 2022
The weighted dollar is trading just a tad below’s yesterday’s strongest reading since November 2002. Compared to closing levels in NY on Monday, the dollar has strengthened 0.5% against sterling and Mexican peso, 0.4% versus the Australian dollar, 0.3% relative to the Canadian dollar, 0.2% versus the kiwi, and 0.1% vis-a-vis the Japanese yen. The […] More
Sobering Data
October 29, 2021
A round of risk aversion depressed equities but lifted the dollar and 10-year bond yields on Friday. The price of gold dipped below $1,800 per ounce. Ten-year German bund and British gilt yields rose five basis points overnight, and the 10-year Treasury yield is 3 bp higher. Share prices fell 1.3% in South Korea, 1.4% […] More
