Turkish CPI and PPI

Strength of Dollar Adds to Downward Pressure on Stocks

October 3, 2023

The weighted DXY dollar is trading at a 45-week high not seen since two days before Thanksgiving 2022. Overnight dollar advances of 0.9% and 0.8% against the Australian and New Zealand currencies and of 0.5% and 0.4% versus the Swiss franc and Mexican peso dwarf the 0.1% upticks relative to the yen and sterling. The […] More

Fitch’s Downgrade of the U.S. Debt Rating Pushes Long-Term Interest Rates Higher

August 3, 2023

In the wake of the announced downgrading of U.S. government debt and amid doubts about a coming recession, the 10-year Treasury yield rose nine basis points overnight and touched a high of 4.18%, which compares to 3.31% just over four months ago. 4.18% is the highest level since early last November. Other 10-year sovereign debt […] More

Economic Concerns Regarding China Weigh on Global Markets

July 5, 2023

China’s composite and service sector purchasing managers indices (five month lows of 52.5 and 53.4 in June) drew the most attention from today’s slew of PMI releases. Investors are also eagerly awaiting minutes from last month’s FOMC meeting in hopes of getting greater clarification on the likelihood of a rate hike resumption at the next […] More

Price of Oil Back in the Spotlight

June 5, 2023

At the weekend’s meeting of OPEC plus oil ministers, Saudi Arabia announced a further production cut of one million barrels barrels per day, effective July 1, and WTI oil is trading 2.6% higher as a result although about $1.5 below today’s earlier peak. The dollar has opened the week on an up beat, with gains […] More

More Central Bank Rate Hikes and Dollar Rises to a Two-Week Weighted High

November 3, 2022

Big jumps in the dollar are continuing in the wake of yesterday’s sobering Federal Reserve press conference. The greenback is stronger than Wednesday closing levels by 1.5% against sterling, 1.0% versus the kiwi, 0.9% relative to the Swiss franc and Australian dollar, 0.6% vis-a-vis the euro and Canadian dollar, and 0.3% against the yen. Since […] More

On Labor Day 2022, the Dollar Hits Fresh 20-Year High on DXY Weighted Index

September 5, 2022

U.S. and Canadian markets are closed for Labor Day observances. Former British Foreign Secretary Liz Truss has won the Conservative Party leadership vote and will succeed Boris Johnson as prime minister. She becomes the country’s third woman to hold that office, following Margaret Thatcher and Theresa May. Truss campaigned on an orthodox conservative agenda and […] More

Energy Prices Soaring as Both Russia and Ukraine Take a Beating

March 3, 2022

The price of West Texas Intermediate crude oil jumped another 3.5% overnight and has risen 52% since the end of 2021. The dollar jumped 11% overnight against the Russian ruble. Trading on the Russian stock exchange remains suspended. Russia’s banking system is gripped by an extreme liquidity shortage, and the country’s sovereign debt rating has […] More

Omicron, Central Banks, ISIS, Metaverse, OPEC, Russia, Inflation and January PMIs Vying for Market’s Attention

February 3, 2022

The top leader of ISIS and his family have died after a U.S.-led raid in Syria. Geopolitical tensions between the U.S. and Russia remain very high. A total of 3,623 Covid-19 deaths yesterday in the United States were the greatest single-day total in a year. Omicron affected numerous service-sector and composite purchasing manager surveys reported […] 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

Inflation and Debt Ceiling Concerns Nudge Stocks and Dollar Lower

October 4, 2021

Equity markets closed down 2.2% in Hong Kong, 1.1% in Japan, 1.6% in South Korea and 1.0% in Taiwan. China was closed for a National Holiday and will remain so through Thursday. The German Dax is unchanged, and while some other European bourses show marginal rises, U.S. stock futures are off around 0.4%. The dollar […] More