U.S. import prices

Awaiting U.S. Data and Wednesday’s FOMC Developments

March 16, 2021

Data releases in Asia and Europe were light this Tuesday, but U.S. retail sales, industrial production, import prices, capacity utilization, and NAHB housing index are due shortly. Today is also the first of a two-day FOMC policy review that will include the quarterly update of macroeconomic and interest rate forecasts as well as Chairman Powell’s […] More

Stocks and Dollar Falter as Sovereign Debt Yields Resume Their Rise

February 18, 2021

Overnight dollar losses range from 0.7% against sterling to 0.4% relative to the Aussie and New Zealand dollars, 0.3% versus the euro, Swiss franc and peso and 0.2% relative to the yen and loonie. The trade-weighted dollar is 0.3% softer. Ten-year sovereign debt yields are up four basis points in the U.K., lifting the pound […] More

Electoral College Honors Voters’ Choice and Picks Biden; Data Focus on China

December 15, 2020

The dollar is little changed today. It’s biggest move, a 0.4% decline against sterling, comes as trade talks were extended past the deadline and as British labor market data revealed a full return of average wage earnings growth to the pre-pandemic pace but also a larger-than-forecast 64.3k jump in jobless insurance claims due to a […] More

Further Erosion of Dollar’s Value

September 15, 2020

The dollar dropped 0.6% to a 16-month low against the Chinese yuan overnight and also lost 0.5% relative to the Australian dollar, 0.4% vis-a-vis the Mexican peso, 0.3% versus the kiwi, Swiss franc, loonie, euro and sterling, as well as 0.1% against Japan’s yen. The latest declines bring the dollar’s trade-weighted depreciation over the past […] More

Dollar and European Equities Slip

August 13, 2020

The dollar slid overnight by 0.6% against sterling, 0.4% versus the euro, 0.3% relative to the loonie, and 0.1% against the Swiss franc. Equities closed higher by 1.8% in Japan, 1.3% in Singapore and 0.7% in Taiwan, but trading in Europe has seen losses so far today of 1.1% in the U.K., 0.3% in Germany […] More

Two Competing Covid Narratives

July 15, 2020

As is the case on so many matters, faith and reason are clashing in how psychology is being affected by the coronavirus news. This week at least, faith — in this case optimism generated by favorable reports regarding a British vaccine in testing — is overriding the reality of accelerating trends in the virus’ spread […] More

Easter Break Over but Covid-19 Pandemic Continues to Dominate Financial Market News

April 14, 2020

Having made the three biggest mistakes in handling the pandemic, the United States has now taken the global lead in both number of cases (30.3% of the worldwide total) and deaths (23,644 or 19.6% of the total). The mistakes were 1) being late to socially distance people, 2) deficient testing to identify asymptomatic carriers of […] More

Out of Fixed Income Assets and Into Stocks

November 15, 2019

After a few days that saw sovereign debt yields decline, ten-year U.S. Treasuries, German bunds and British gilts each rose two basis points overnight. In stock market action, equities rose 0.9% in Australia, 1.1% in South Korea, 0.7% in Japan and Taiwan but slipped 0.6% in China. European stock markets so far show gains of […] More

Yield Curve Inversion Amplifies Recession Fears and Flight to Safe Assets

August 14, 2019

The 2-year Treasury note yield edged marginally above the 10-year yield for the first time in 14-1/2 years. This and a similar yield curve inversion in the U.K. happened as investors selectively fixated on weak data while ignoring some better-than-expected statistics, causing share prices to drop sharply in Europe and the United States. Losses amount […] More

Stocks and Oil Firmer but Dollar and Fixed Income Asset Prices Lower

April 12, 2019

The dollar has weakened 0.7% against the Aussie dollar, 0.6% relative to the kiwi, 0.5% versus the euro, 0.4% vis-a-vis the loonie, 0.3% against the yen, peso and sterling and 0.2% versus the Swiss franc and Chinese yuan. The price of WTI oil strengthened nearly 1% overnight and is again above $64.00 per barrel. The […] More

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