Japanese machinery orders
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 the 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
North American Holidays and Lack of Data Reports Make for a Quiet Start to a New Week
February 18, 2019
North American markets will be shut Monday for the U.S. Presidents Day holiday and Canadian Family Day holiday. Share prices in Asia rose 2.7% in China, 1.8% in Hong Kong and Japan, 1.7% in Indonesia, 0.8% in Singapore and Taiwan, and 0.7% in South Korea but fell 0.9% in India. Among European bourses, stocks so […] More
Equities Down and Bond Yields Rise Again
October 10, 2018
The dollar is comparatively steady, showing no net overnight change against the euro, yuan or sterling and upticks of 0.1% versus the Swiss franc, loonie and Australian dollar and of 0.2% relative to the Mexican peso. Somewhat bigger appreciations have occurred against the kiwi of 0.4% and yen of 0.3%. Share prices fell 1.1 in […] More
