U.S. current account

Stagflationary Outlook Gaining Traction and Western Leaders in Brussels Plan Contingent Plans for Ukraine Crisis

March 24, 2022

The world’s attention today is on Brussels where U.S. President Biden will be meeting with NATO allies, the European Council of political leaders, and Other Group of Seven members. The meetings are meant to coordinate a response to Russia’s continuing invasion of Ukraine, where the use of Russian weapons of mass destruction appears increasingly probable. […] More

Volatile Markets as Investors Scramble to Assess Omicron Variant

December 21, 2021

Ten-year sovereign debt yields rose nine basis points overnight in the U.K., eight bps in Spain and Italy, seven bps in France, six bps in Germany, five bps in the United States and a basis point in Japan. The steep drop in stock markets was partially trimmed overnight, but equities still appear vulnerable. U.S. stock […] More

Equities Trying to Rebound and Dollar Slips a Bit Ahead of Wednesday’s FOMC Announcement

September 21, 2021

The dollar is down 0.15% against the DXY weighted index. Dollar/yen is unchanged from Monday’s closing level, and the greenback lost 0.1% overnight against the euro and sterling and 0.4% relative to the loonie and Swiss franc. U.S. stocks had suffered their steepest daily loss on Monday since May, and share prices in other markets […] More

Dollar Is a Touch Softer

June 23, 2021

The dollar is 0.1% softer against its DXY weighted index. The greenback slid 0.3% overnight against the Canadian, Australian and New Zealand dollars, 0.2% versus sterling and 0.1% relative to the yuan but firmed 0.1% against the yen and is unchanged against the euro, Swiss franc and Turkish lira. Equity markets are mixed. Share prices […] More

Dollar Strengthens on Comparatively Better U.S. Economic and Vaccine Deployment Outlook

March 23, 2021

The dollar advanced broadly overnight by 1.8% against the New Zealand dollar, 1.4% relative to the Turkish lira, 1.0% versus the Australian dollar, 0.7% against the Mexican peso, 0.6% vis-a-vis the Swiss franc and sterling, 0.5% against the euro and 0.4% versus the Canadian dollar and on a trade-weighted basis. Investors are awaiting today’s releases of […] More

Mixed Signals this Friday

September 18, 2020

China’s Shanghai Composite equity index jumped 2.1%, but share prices fell 1.4% in New Zealand and 0.3% in Australia and India. Japan’s Nikkei rose only 0.2%, and Spanish stocks have so far dropped 1.2% on the day. The dollar climbed to another record high against the Turkish lira and shows a year-to-date advance of more […] More

Good Trade News but Unsettling Covid Developments

June 19, 2020

Share prices got a boost from an overnight report that China will step up purchases of U.S. agricultural goods. This comes after Thursday’s revelation in the Bolton tell-all book that Trump had solicited a boost in Chinese purchases to voter reelection support from the mid-west. Several populous U.S. states like California, Florida, and Texas continue […] More

Bracing for Impact But Investors Take a Pause

March 19, 2020

The count of identified global coronavirus infections (230,041) and deaths (9,386) has risen by 26,429 and 1,097 in the past 26 hours. Investors are getting a glimpse of just how bad the economic impact could be. The IFO Institute’s monthly index of Germany’s business climate fell 8.3 points in March to a 127-month low of […] More

Thursday Rundown of Overnight News, Data Reports, and Central Bank Decisions

December 19, 2019

President Trump has been impeached by a House of Representatives partisan vote of 229-197. He will get a trial in the senate. Market movements today are mostly unremarkable. Sovereign debt yields are up. Equities are down a bit in Europe but started on an up note in the United States. New Zealand’s stock market rallied […] More

Eight More Central Bank Meetings, a U.S. Current Account Report, and Downgraded Global Growth

September 19, 2019

Dollar movement overnight was mixed, with gains against the Australian dollar, kiwi, sterling, and yuan but losses relative to the yen, Swiss franc, euro, loonie and peso. The 10-year U.S. Treasury and Japanese JGB yields fell three basis points. Their German and British counterparts are respective a basis point higher and a basis point lower. […] More

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