Manufacturing PMIs
Averted U.S. Government Shutdown Hasn’t Changed Financial Market Dynamics
October 2, 2023
The approved continuing resolution to keep the U.S. government running is only a temporary 48-day remedy. Moreover, it removes a downside short-term risk to U.S. growth and therefore a potential deterrent to Fed officials raising interest rates additionally this quarter. Ten-year sovereign debt yields rose overnight by six basis points in the United States, four […] More
Weighted Dollar Strengthens to Three-Week High, While Bitcoin Weakens to Six-Week Low
August 1, 2023
The dollar strengthened overnight by 1.3% against the Australian dollar, 0.9% versus the New Zealand dollar, 0.6% vis-a-vis the Canadian dollar, 0.5% relative to the Japanese yen, 0.4% against the Swiss franc and sterling, 0.3% versus the Chinese renminbi and Mexican peso, but just 0.2% against the euro. The price of Bitcoin tokens dropped 1.2%. […] More
Factory Purchasing Manager Surveys, An Australian Central Bank Rate Hike, and Much More
May 2, 2023
It’s been a busy Tuesday from an event and data-release standpoint, but financial market movements have been more measured. Drops of 1.0% against the Australian dollar and 0.7% versus the New Zealand dollar followed the Reserve Bank of Australia’s 25-basis point rate hike after having paused tightening in March. Against other currencies, however, the dollar […] More
A Sign Emerges that Supply Constraints May Be Easing, but Investors Remain Bearish
July 1, 2022
Today’s been another fine day for the dollar. Thus far, the greenback shows gains of 1.6% against the Australian dollar, 1.5% versus the Swiss franc, 1.3% relative to the kiwi, 0.8% vis-a-vis sterling, 0.4% against the Canadian dollar but just 0.2% against the euro and zero percent against the Japanese yen and Chinese yuan. Equity […] More
Russia Escalates Military Conflict.. Biden’s State of the Union Address Tonight
March 1, 2022
The fighting in Ukraine was even more intense on Tuesday, as Russian forces try for a quick knockout of that country. Meantime, Western sanctions are paralyzing the Russian economy and financial system. As on Monday, equity markets attempted a rebound in the Pacific Rim, but stocks got clobbered in Europe. Markets closed up 1.2% in […] More
Opening Bell on 2022
January 3, 2022
Some financial markets such as those in Japan, China, Great Britain, Australia, and New Zealand remained closed on this first business day of 2022. But manufacturing sector purchasing managers surveys were reported for many economies, and some price data were released, too. In market activity, the dollar held steady against the Japanese yen and Chinese […] More
Evidence of Two-Speed Post-Pandemic Recovery and Some Encouraging News on the Inflation Front
July 1, 2021
The first day of July brought a slew of manufacturing purchasing manager surveys. Recovery from the Covid recession is developing faster than than the upswing from the Great Recession, but countries that have been forced to reimpose restrictions on social gathering are seeing their recoveries lag others. Currencies are also becoming more aligned with Covid-management […] More
June Opens on Hopeful Note
June 1, 2021
Manufacturing purchasing managers survey results reveal record growth in many cases, robust business optimism, but also inflationary pressure from demand outstripping supply. Euroland’s factory sector PMI was revised even higher to a record reading of 63.1. The Netherlands, Austria, Germany, Ireland, and Italy all scored above 62.0, and the lowest reading in the group — […] More
No Fooling: Today’s Economic Data Show Improvement but Covid Cases on the Rise Too
April 1, 2021
On this opening day of April, the dollar is unchanged against the yen, sterling and New Zealand dollar. The greenback has dipped 0.1% versus the euro and fallen 0.8% against the Turkish lira and 0.5% vis-a-vis the Mexican peso, but the dollar also has risen 0.3% against the Chinese yuan and Canadian dollar, 0.2% versus […] More
2021 Starting the Way 2020 Ended
January 4, 2021
The dollar fell 1.0% against the yuan, 0.7% versus the euro, Swiss franc and Mexican peso, and hit multi-year lows against several currencies. Share price futures point to a higher open in U.S. equity trading after the New Year’s Day holiday. Stock markets rose 2.1% in Indonesia, 2.5% in South Korea, 1.2% in Taiwan, and […] More
