U.S. GDP
Month-End, Powell’s Speech, and a Whole Lot of Released Data to Digest
November 30, 2022
Investors are awaiting Fed Chairman Powell’s luncheon speech today at the Brookings Institution, scheduled to start at 13:30 EST (18:30 GMT). The last business day of each month typically offers a very heavy menu of released data. November saw the biggest monthly drop in the dollar in over a decade, as long-term interest rates fell […] More
Sell-Off Resumes
September 29, 2022
Sovereign debt selling resumed this Thursday, sending 10-year government debt yields up by 20 basis points in Italy, 19 bps in Great Britain, 16 bps in France and the Netherlands, 15 bps in Germany and Spain, and nine basis points in the United States. Share prices are down 1-2% in the U.K., Germany, France, Italy […] More
Dollar and Stock Markets Partly Reverse Direction as Jackson Hole Symposium Kicks Off
August 25, 2022
In overnight action, the dollar fell 0.8% against the Australian dollar and 0.5% versus the kiwi. The greenback eased back only 0.2%, however, relative to the euro, yen, Swiss franc, sterling, loonie and weighted DXY index. Stock markets advanced 3.6% in Hong Kong, 1.2% in South Korea, 1.0% in China, 0.9% in Taiwan, 0.6% in […] More
U.S. 2Q GDP Report Heads Crowded Data Release Schedule Today
July 28, 2022
U.S. real GDP fell 1.6% on quarter at an annualized rated during the winter period and is expected to rebound only about 0.5% in 2Q. The data will be released shortly. Meantime, the dollar strengthened overnight, especially in the past couple of hours. From Wednesday closing levels, the dollar is up 0.8% against the euro, […] More
New Multi-Year Highs in the Dollar
April 28, 2022
The weighted DXY dollar index has advanced 0.7% on balance today and touched a 19-year high of 103.93, which constitutes an appreciation of 43.3 in April 2008 during the subprime mortgage financial crisis. Overnight dollar highs included a 20-year peak of 131.01 against the Japanese yen and $1.0471 versus the euro. Compared to closing levels […] More
Stampede Into Safe Havens After Russia Invades Ukraine
February 24, 2022
Overnight advances of the U.S. dollar amount to 6.0% against the Russian ruble, 3.3% relative to the Ukraine hryvnia, 2.8% against the Turkish lira, 2.4% versus the Swedish krona and Brazilian real, 1.8% against the Mexican peso, 1.5% versus sterling, 1.4% vis-a-vis the euro, Korean won and New Zealand dollar, 1.2% relative to the Chinese […] More
Dollar Leaped 1.2% Overnight to 19-Month High
January 27, 2022
Fed Chairman Powell’s implication that Fed tightening in 2022 will exceed market expectations lit a flame under the dollar, which overnight rose 1.2% on a weighted basis to its best level since June 28, 2020. The dollar climbed 0.7% against the euro and Swiss franc, 0.5% relative to the yen, kiwi and sterling, and 0.4% […] More
Revised U.S. and British GDP Figures, Record High PPI Reports, and a Big Czech Central Bank Rate Hike
December 22, 2021
Market activity so far this Wednesday has been less volatile than in recent days. The weighted DXY dollar index settled back 0.2% and was around overnight lows at the time of the U.S. stock market opening. The dollar has fallen 0.5% against the Australian dollar, Turkish lira and sterling but just 0.2% relative to the […] More
End of Third Quarter 2021
September 30, 2021
The DXY weighted dollar dipped 0.1% overnight but experienced a quarterly advance of around 2.5%. In the Pacific Rim, share prices on the final trading day of the quarter rose 1.9% in Australia, 1.4% in New Zealand, 2.0% in Indonesia, and 0.9% in China but fell by 0.4% in Hong Kong and 0.3% in Japan. […] More
Marking Time as Drama at Jackson Hole and Kabul Unfold
August 26, 2021
The St. Louis and Kansas City Federal Reserve District presidents, who represent predominately Republican regions of the United States, publicly expressed their personal desires to see quantitative tapering begin this autumn, and Bullard of St. Louis added his hope that an interest rate hike be done before the end of 2022. The annual central banking […] More
