Syria
Hold Your Fire! Hold Your Fire!
September 10, 2013
A diplomatic solution suggested by Russia appears to be shaping up that would avert a U.S. military strike on Syria. Markets welcomed the development as well as news of better-than-forecast Chinese data. Share prices increased 4.0% in Indonesia, 3.8% in India, 1.6% in the Philippines, 1.4% in China, 1.5% in Japan, 1.2% in Singapore and […] More
Further Market Anxiety from Syria and as FOMC Meeting Nears
September 4, 2013
Several stock markets posted large overnight losses. In the Pacific Rim, equites fell 2.2% in Indonesia, 1.0% in the Philippines, 1.3% in Singapore and 0.7% in Australia. Hong Kong, China and Taiwan dipped 0.3%, 0.2% and 0.1%, while a 1.8% advance of India’s Sensex and a 0.5% rise in Japan’s Nikkei proved exceptions to the […] More
A Sea of Data Fails to Stir the Dollar
August 30, 2013
The dollar is unchanged against the euro, kiwi, yuan and sterling and down just 0.1% versus the yen, loonie, Australian dollar and Swiss franc. The big overnight news was a vote by Britain’s House of Commons not to participate in a military strike on Assad’s forces in Syria. This has made the U.S. response and […] More
Goodbye to a Thought-Provoking Summer
August 29, 2013
Dollar movements against the yen, euro, Swiss franc, and sterling between the U.S. Memorial Day and Labor Day weekends were no greater than 3.0%. In each of the instances, the dollar lost ground. Although it did well in the final week of summer, it seems premature to characterize such gains as anything more than noise. […] More
Firmer Dollar
August 29, 2013
The dollar has benefited from the lessening imminence of U.S./UN military action against Syria. The greenback rose overnight by 0.8% against the Swiss franc, 0.6% versus the euro, 0.5% relative to the yen, 0.2% vis-a-vis the kiwi and loonie, and 0.1% against the Australian dollar and sterling. The yuan is steady. There were some sizable […] More
