U.S. productivity and unit labor costs
Dollar Buoyed by Higher U.S. Long-Term Interest Rates and Reinvigorated Hawkish Fedspeak
March 2, 2023
In overnight action, the dollar advanced 0.6% against the euro, sterling, yuan and kiwi and by 0.5% relative to the yen and Australian dollar. At 4.07%, the ten-year U.S. Treasury yield has climbed 8 basis points today and 67 basis points over the four weeks since February 2nd. The Federal Reserve District presidents in Minnesota […] More
Investors Looking Ahead to Important Price Data
August 9, 2022
In market action overnight, The dollar marked time, sliding 0.3% against the euro, 0.2% on a weighted DXY basis, and 0.1% relative to the Swiss franc and peso. The dollar also edged up 0.2% against the Australian dollar and 0.1% versus the yen and Canadian dollar. U.S. stock futures fell around 0.3%. Major European bourses […] More
Equities and Dollar Steady but Pandemic Not Going Away
August 10, 2021
Covid trends keep worsening. U.S. daily cases hovering at 125k, and hospitalization and death rates are rising too. Global deaths closing in on 4-1/3 million, and a number of countries including China have tightened restrictions against social activities. Overnight dollar changes were mostly confined to a range of plus or minus 0.2%. Share prices Tuesday […] More
Lower Dollar
May 6, 2021
The dollar settled back 0.4% on a weighted basis and against the euro overnight. The dollar also lost 0.5% relative to the Swiss franc, 0.3% versus the loonie, and 0.1% relative to the New Zealand and Australian currencies. The dollar alternatively edged 0.1% higher against the peso and sterling and held steady on balance versus […] More
Risk Back Off after California Declares State of Emergency
March 5, 2020
Yesterday’s U.S. stock market rally extended into Pacific Rim trading hours overnight, with markets advancing 2.1% in Hong Kong, 2.0% in China and New Zealand, 1.3% in South Korea, and 1.1% in Japan, Australia, and Taiwan. But the covid-19 virus continues to extend its tentacles, and investor fear abruptly overtook hope in Europe where equity […] More
Stampede Out of Risky Assets
December 6, 2018
Japan’s Nikkei fell 1.9% overnight, and share prices are down even more sharply in the United States, Canada, U.K., Germany, France, Spain, China, Hong Kong. 10-year sovereign debt yields have climbed 14 and 10 basis points in Italy and Greece but fallen 8 bps in the U.K., 7 bps in the U.S., 5 bps in […] More
Dollar Down, Stocks Mostly Up Overseas
November 1, 2018
The dollar fell overnight on this first day of November by 1.5% against the kiwi, 1.3% relative to the Australian dollar, 1.0% vis-a-vis the peso and sterling, 0.7% versus the euro, 0.6% against the Swiss franc, and 0.4% relative to the loonie and yuan. The yen, in contrast, remains unchanged against the dollar. Share prices […] More
Thursday Summary Notes
September 6, 2018
Several U.S. data reports were released. Productivity, which rose 1.1% in 2017, leaped 2.9% in the second quarter of 2018 and 1.3% from a year earlier. Unit labor costs fell 1.0% and were 1.9% higher than in 2Q17. Jobless insurance claims fell by 10K to 203K last week. ADP reported a lower-than-expected 163K estimated rise […] More
Market Disturbances
May 3, 2018
Share prices fell late yesterday in the wake of an FOMC statement that reinforced the possibility of faster, rather than slower, rate hike normalization. Overnight in the Pacific Rim, Japan’s string of Golden Week holidays resumed with Constitution Day, but stocks elsewhere fell 2.6% in Indonesia, 1.4% in Hong Kong, 1.1% in Singapore, 0.6% in […] More
Higher Service-Sector PMI Readings in the United States and Euroland Plus Comments on Other U.S. Statistics Released Today
December 5, 2012
The service-sector purchasing manager indices rose in November by 0.5 points in the United States and 0.7 points in the euro area. The spread between those readings narrowed marginally to +8.0 points as a result. Notably, U.S. services at 54.7 and comfortably above the 50 no-change level connotes non-stalling expansion, whereas Euroland’s 46.7 points to […] More
