Japanese machinery orders

Many Data Already Reported… Now Waiting for U.S. CPI and FOMC Minutes

October 13, 2021

The dollar slipped overnight by 0.3% against the Swiss franc and sterling, 0.2% versus the euro, peso and on a DXY weighted basis, and 0.1% relative to the Canadian dollar, Chinese yuan, and Turkish lira. Ten-year sovereign debt yields have dropped four basis points in Germany and five bps in the U.K. but only a […] More

Dollar Starting Week on a Rising Note, whereas Share Prices and Sovereign Debt Yields Move Lower

July 12, 2021

The dollar climbed 0.6% against the Mexican peso and New Zealand dollar, 0.5% versus the Australian dollar, 0.4% vis-a-vis the loonie, 0.3% relative to sterling an 0.1% against the yen but is steady versus the euro and yuan. Stocks in the Pacific Rim had closed up 2.3% in Japan, 0.9% in Taiwan, 0.8% in Australia […] More

Awaiting U.S. Import Prices, Jay Powell’s Speech and Fed’s Beige Book

April 14, 2021

The dollar fell 0.7% overnight against the New Zealand dollar and 0.5% relative to the Turkish lira and Australian dollar. But more senior dollar relationships such as the euro, yen, Swiss franc, sterling, and yuan, the dollar is barely changed and down just 0.1% in weighted terms. For the first time in years, markets have […] More

Tension on Several Fronts but Market Moves Muted Overnight

January 14, 2021

President Trump has been impeached by the House of Representatives for the second time in 13 months. The Senate trial will commence soon after he leaves office. New Covid cases and deaths remain highly elevated in many countries. The British daily death toll set a record yesterday. Bank of Japan Governor Kuroda said monetary stimulus […] More

Optimism from the Vaccine and Policy Developments

December 9, 2020

Once again stocks have risen and the dollar fallen from optimism that the arrival of vaccines means the beginning of a return to a better normal. The focus on vaccines coincides with difficult trends in Covid cases, deaths and hospitalizations. New cases in theĀ  past 24 hours exceed 600k globally and 216k in the United […] More

Lower Bond Yields, Mixed Dollar and Softer Equities in Face of Relentless Covid

November 12, 2020

Covid cases in the last 24 hours exceeded 600k and 140k globally and in the United States. Global and U.S. deaths from the illness over the past two days averaged more than 10k and 1.45k per day. While vaccine development seems to be making good progress, a new worry is that Covid’s ability to mutate […] More

Monetary Efforts to Counter Covid-19 Economic Damage All in Vain

March 16, 2020

The contagion news over the weekend was very bad. Italy suffered a bigger daily jump in deaths than even China had, and all evidence suggests that governments that did not test extensively for the virus at the first sign of trouble have brought upon their countries larger humanitarian disasters. The United States seemingly falls into […] More

Dollar and Yen Fell in Tandem

October 10, 2019

The dollar and yen dropped overnight by 0.6% against the New Zealand and Australian currencies, 0.5% relative to the euro, 0.3% versus the Swiss franc and peso, 0.2% relative to the loonie and sterling and 0.1% against the yuan. Ten-year U.S. Treasury and Japanese JGB yields are unchanged, whereas their German and British counterparts increased […] More

Markets React to ECB Stimulus, U.S. CPI Data, and Continuing Hopes on Trade Talks

September 12, 2019

Policymakers at the European Central Bank as expected cut the deposit rate by 10 basis points to minus 0.50%, announced an open-ended asset purchase program to start in November at EUR 20 billion per month, said targeted LTRO operations will carry the average deposit rate, and introduced a a 2-tiered system of reserve remuneration in […] More

Investors in Cautious Mood

June 12, 2019

Trade war concerns continue to weigh on financial markets. Share prices fell 1.4% in Hong Kong where street riots escalated in protest of an extradition law. Equities also dropped 0.6% in China, 0.5% in India and Indonesia and 0.4% in Japan. European stock markets so far have lost 0.8% in Italy, 0.7% in the U.K. […] More

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