Anxious Start to a New Week

April 11, 2022

With central banks scrambling to counter inflation that has climbed far higher than anticipated, predictions are proliferating of a sharp economic slowdown or even a recession in the United States and many other economies. U.S. consumer price inflation is expected to have accelerated a half percentage point or more in March from February’s 7.9%. The […] More

Modest Market Retrenchment Ahead of ECB Announcement

April 26, 2018

The ECB Governing Council is holding a policy review to be followed by Draghi’s press conference. The Bank of Japan Board began a two-day meeting whose results will be revealed Friday. The BOJ also releases a quarterly Outlook for Economic Activity and Prices tomorrow, which will update its macroeconomic forecasts. After meetings with U.S. President […] More

Euro and Ezone Stocks Fall Despite Big Win for Macron

May 8, 2017

The centrist candidate for president of France, Macron, beat Le Pen by a rough margin of two to one.  Stock markets in Asia closed higher, but European markets are down 1.0% in France, 0.9% in Spain, 0.5% in Italy, and 0.3% in Germany. The dollar, moreover, rose 0.5% against the euro, 0.7% relative to the […] More

Euro Climbs against Dollar and Yen

May 4, 2017

Several themes were in play on Thursday. A contentious French presidential candidate between centrist Macron and the far-to-the-right Le Pen was considered won by Macron, who already leads in polls. A victory for him in this Sunday’s run-off election would prevent Frexit. Service sector purchasing manager survey results in April show Euroland growing at an […] More

Brexit Worries Depress Sterling Against Euro

February 27, 2017

Sentiment toward Euroland was buoyed by French opinion polls and February economic sentiment data. Emmanuel Macron’s voter support in France improved. The final round of France’s presidential election is likely to pit the centrist Macron against the populist anti-EU National Front candidate, Le Pen. Economic sentiment in the euro zone edged 0.1 point higher to […] More