U.S. personal income and spending

Heaviest Data Release Day of the Week Before Christmas Yields Mixed Results

December 23, 2022

The dollar traded lower by 0.6% against the kiwi, 0.5% versus the Australian dollar, 0.4% vis-a-vis the loonie, and 0.2% relative to the euro but has also risen by 0.4% against the yen, 0.3% vis-a-vis stereling and 0.1% against the yuan and Swiss franc. Ten-year sovereign debt yields are up five basis points in the […] More

Manufacturing in Recession Here, There and Just About Everywhere

December 1, 2022

November purchasing manager surveys released today paint a very gloomy picture, with activity declining at the fastest pace since May 2020 (near Covid ground zero) in the United States (according to both the ISM and S&P Global reports), Brazil, Australia (AIG survey), Turkey, Ireland, Czech Republic, and Sweden. Japan’s PMI index got revised downward and  […] More

Powell Predictably Didn’t Pull Any Punches in Jackson Hole Speech

August 26, 2022

The tone of Fed Chairman Powell’s keynote address today at the Jackson Hole Symposium was hawkish in spite of data released earlier in the day that revealed a larger July downtick in inflation than was forecast. Monetary policy will err toward restraint until officials are very sure that inflation is returning all the way to […] More

Concerns about Corporate Earnings

April 29, 2022

Led by the tech sector especially pre-open declines of nearly 10% in Amazon and 2.5% in Apple, U.S. stock futures are lower on this final trading session of the difficult month of April. Amazon reported a quarterly drop in earnings, and Apple warned of persistent supply delays. Having touched a 19-year weighted high on Thursday, […] More

Softer Dollar and Stock Futures.. Russian Troops Closing in on Kyiv and Kharkiv Bombed

February 25, 2022

Stocks had bounced late Thursday when President Biden’s unveiled sanctions failed to include a denial of Russia’s ability to use the SWIFT global payments system or actions directed explicitly against Putin. But with the military conflict near Ukraine’s capital and second largest city, U.S. stock futures are currently down 0.4-0.5%. Ukraine’s stock market remains shut, […] More

Powell Speech in 15 Minutes on a Data-Heavy Day

August 27, 2021

Fed Chairman Powell addresses the Jackson Hole Central Bank Symposium at 10 EDT. Markets have been comparatively flat, awaiting what Powell has to say regarding the tapering of Fed bond purchases and what officials anticipate for U.S. growth and inflation. The trade-weighted dollar has edged 0.1% higher. U.S. personal income in July, which had been […] More

Dollar Up 0.2% Against Euro, yen and Weighted index on Final Business Day of July

July 30, 2021

The U.S. currency also climbed overnight by 0.3% against sterling and 0.1% relative to the Swiss franc. However, equities have dropped, especially in Japan (-1.8%), Hong Kong (-1.4%), New Zealand (-1.2%), Spain and Taiwan (each down 0.9%), but also in Indonesia (-0.8%), the U.S. (Nasdaq -0.6% and S&P 500 down 0.4%), the U.K. (-0.5%) and […] More

Dollar Up and Equities Down After Weak European GDP Data

April 30, 2021

The dollar advanced overnight by 0.8% against the Turkish lira, 0.3% relative to the Mexican peso and kiwi, 0.2% versus the euro, Aussie dollar and weighted dollar index, and 0.1% vis-a-vis sterling. The dollar also slipped 0.2% against the Canadian dollar and 0.1% versus the Japanese yen. Relationships against the Chinese yuan and Swiss franc […] More

February Ends with a Snag in the U.S. Fiscal Package, Plenty of Price and GDP Data, and President Biden’s First Military Action

February 26, 2021

World financial are exiting February in a highly volatile conditions. Share prices tumbled today by 5.0% in Taiwan, 4.0% in Japan, 3.8% in India, 3.6% in Hong Kong, 2.8% in South Korea, 2.4% in Australia, and 2.1% in China. Equity markets in Europe are down 1.5% in the U.K., 0.9% in France and Italy, and […] More

Steep Retreat Resumes in Equities; Lots of Data Reported in Final Session of January

January 29, 2021

Share prices fell 3.0% in South Korea, 2.0% in Indonesia, 1.9% in Japan, 1.8% in Taiwan, 1.3% in India, 0.9% in Hong Kong, and 0.6% in both Australia and China  overnight. European markets and U.S. futures are down 1.0% or more. Efforts to halt the  meteoric advance of shorted stocks like GameStop worked only briefly. […] More