Swiss GDP
Some Upside Data Surprises and Kyrgyzstan’s First Central Bank Rate Cut Since May 2019
November 29, 2022
The dollar traded lower this Tuesday and has so far lost 1.2% against the Aussie dollar, 1.0% relative to the kiwi, 0.8% versus the Mexican peso, 0.7% vis-a-vis the Chinese yuan, 0.5% against the yen and sterling and 0.3% versus the euro and loonie. The Swiss franc edged 0.1% higher, in contrast. A report out […] More
U.S. Urban Protests Persist but So Does Equity Rally
June 3, 2020
U.S. city protests extended last night into an eight day but became more peaceful. Moreover, investors continued to buy up stocks in anticipation of business reopening. The rise in share prices continues to be a global phenomenon and not limited to the United States. In the Pacific Rim, share prices rose Wednesday by 3.4% in […] More
Problems Deepen in Europe But Appetite for Riskier Assets Returns
September 5, 2019
German industrial orders slumped 2.7% in July, almost twice as steeply as forecast. This wiped out June’s recovery and left orders 5.6% below their year earlier level. Demand weakness was broadly based across industrial sectors but more concentrated exports than domestic demand. The construction purchasing managers index in Euroland sank 1.5 points in August, sliding […] More
Tariff War Concerns Rattle Investors
May 28, 2019
President Trump’s predisposition to fight a tariff war that he believes is winnable depressed the 10-year U.S. Treasury yield below 2.30% to its lowest level since October 2017 and weighed on European and Asian share prices. Equities fell 1.1% in Indonesia, 0.4% in New Zealand and 0.2% in Taiwan and Singapore. Stocks in Europe have […] More
No Deal Between U.S. and North Korea and a Whole Lot of Data Released
February 28, 2019
The summit between U.S. President Trump and North Korean President Kim ended prematurely without an agreement. Share prices in Asia lost 1.8% in South Korea, 1.3% in Indonesia, 1.2% in Singapore, 0.9% in Hong Kong, 0.8% in Japan but only 0.4% in China. In Europe, there’s been scant net movement in the German Dax or […] More
Message of Jackson Hole Didn’t Stick
September 6, 2016
Speeches and various comments emerging from the Jackson Hole Symposium late last month had been coordinated to plant in investors’ minds the notion that the Fed would be raising its interest rate sooner than assumed and that two hikes before yearend in fact remained possible. The shift in market psychology was only fleeting, however, and […] More
PMI Report Card and Other News
June 1, 2016
Today is the first day of June, a month that sees the ECB Governing Council meet tomorrow and both the FOMC and BOJ Board hold policy meetings at mid-month. Markets only discount a one in four chance of Fed tightening this month but more than even odds for an interest rate increase by the July […] More
Dollar Uptrend Extended after U.S. Labor Day Weekend
September 2, 2014
The dollar rose to a 1-year high of $1.3110 and a 7-month high of JPY 105.03. From Monday closing levels, the dollar currently shows gains of 0.6% against the yen and kiwi, 0.5% relative to the Australian dollar and sterling, 0.4% versus the loonie, and 0.1% vis-a-vis the euro and Swiss franc. The yuan is […] More
