Aussie and New Zealand Dollars Weaken while Euro and Swissie Strengthen

November 22, 2013

The U.S. dollar has risen 0.7% and 0.6% against the Oz and kiwi but is 0.3% softer relative to the euro and Swiss franc.  The dollar also climbed 0.3% relative to the loonie and is unchanged vis-a-vis the yen, yuan and sterling. Share prices rose 0.9% in Australia, 0.6% in South Korea, 0.5% in Hong […] More

BOE and ECB Meetings on U.S. Independence Day

July 4, 2013

Egyptian President Mursi was pushed out by the military. U.S. markets are closed today for Independence Day, marking the 237th anniversary of the Declaration of Independence signing.  The absence of U.S. market leadership may dull market activity today despite central bank policy announcements at the Bank of England and European Central Bank. The U.S. dollar […] More

Difficult Tuesday for Stocks and Sovereign Debt Instruments

June 11, 2013

Markets reacted with disappointment to the Bank of Japan statement and press conference.  Investors wanted but didn’t get any new initiatives to address the rise of JGB yields since the current policy was launched a bit over two months ago.  The 1-year period for the fund-supplying operations was not extended, and Governor Kuroda explained that […] More

Some Japanese Volatility to Disturb an Otherwise Quiet Monday

May 27, 2013

Markets are closed today in the United States for Memorial Day and the United Kingdom for a spring bank holiday. Japan’s Nikkei-225 equity index tumbled 3.2%, and the 10-year JGB yield fell by four basis points to 0.82%.  The yen rose 0.4% against the dollar. Minutes from the Bank of Japan’s April 26 Policy Board […] More

Markets Less Fearful than Yesterday

May 24, 2013

The week is ending with somewhat less anxiety than Thursday, helped by Better-than-projected German IFO business climate in May. Better-than-expected German consumer confidence and French business sentiment. Soothing remarks from Japanese officials and ECB Pdt Draghi. The ability of U.S. stocks to close down only slightly on Thursday. Nonetheless, equities are mostly lower in the […] More

Yen Strengthens after BOJ Meeting… European Stocks Lower

April 26, 2013

After a Policy Board meeting lasting four hours and 28 minutes, the Bank of Japan left its interest rate target at zero to 0.1% and did not initiate any new quantitative easing initiatives beyond those unveiled at the prior meeting.  The monetary base will be increased by 60-70 trillion per year, and policy easing will […] More

Weaker Japanese and Chinese Share Prices

March 28, 2013

Equities slumped 3.3% in China on fear of more property market curbs.  Weakness was concentrated in financials.  The decline occurred in spite of data showing a strong 17.2% on-year advance in Chinese corporate earnings. The Japanese Nikkei fell 1.3% on the next to last day before the end of the fiscal year.  Bank of Japan […] More

U.S. to Release Several Indicators Today

March 26, 2013

Misgivings persist over the Cyprus bailout, which continues to be handled clumsily.  Banks in that country remain closed today and tomorrow.  European finance ministers first suggested the deal might be a trendsetter for other banking systems in trouble but then reverted to calling Cyprus a special case. Attention now shifts to the United States.  In […] More

Disappointing Economic Data from the Euro Area and Japan

March 21, 2013

Risk appetite is down.  The Cypriot banking crisis continues to fester.  Preliminary Ezone PMI readings for March were troubling.  Japan posted a record customs clearance trade deficit, and its all-industry index fell more than 1% in January.  British retail sales and New Zealand GDP released figures were bright spots, however. Equities in Europe have dropped […] More

Friday Profit-Taking

March 15, 2013

The dollar and stocks are lower this Ides of March. The dollar fell 0.5% against the yen, euro and Swiss franc but is unchanged versus the yen and yuan.  The greenback dipped 0.1% against the loonie and kiwi and firmed 0.1% relative to the Australian dollar. Whereas Japan’s sizzling Nikkei rally was extended by 1.5%, […] More