Yellen
Dollar, Pound and Most Equities Falter as a Ton of Economic Data Got Released
November 14, 2017
The dollar rose 0.7% against sterling while posting losses overnight of 0.7% against the euro, 0.4% versus the Swiss franc, 0.2% vis-a-vis the Australian dollar, and 0.1% relative to the yen, loonie, peso and yuan. The kiwi fell 0.5%. Share prices declined 0.9% in Australia, 0.6% in Indonesia, Singapore and Hong Kong, and 0.5% in […] More
Awaiting Important U.S. Data
July 14, 2017
U.S. statistics will be reported today on consumer prices, retail sales, industrial production and the Reuters/U. Michigan consumer sentiment survey. Market direction on the dollar and stocks awaits those reports. European sovereign debt yields fell overnight by six basis points in Spain, five bps in Italy, 3 bps in France, 2 bps in Germany and […] More
Bond Yields, Oil and Dollar Down, Equities and Gold Up
July 13, 2017
The dollar depreciated 0.7% against the Australian dollar, 0.3% relative to sterling, and 0.1% vis-a-vis the yen, yuan, peso, kiwi and loonie. Exceptions to this downtrend were daily dollar rises of 0.3% against the euro and 0.1% relative to the Swiss franc. West Texas Intermediate crude oil fell 0.7% to $45.19 per barrel. Ten-year German […] More
Some Confusion Understanding Central Banker Intentions
June 28, 2017
ECB President Draghi said several things yesterday. A remark that the pendulum of price pressure is shifting away from deflation toward reflation had caught the market’s immediate attention and driven the euro higher, but the ECB today clarified that investors had not given sufficient weight to his other observation that plenty of monetary stimulus is […] More
Stocks and Dollar Mostly Retreat in Choppy Markets
June 27, 2017
The dollar declined overnight by 0.8% against the euro, 0.7% relative to the Swiss franc, 0.4% versus the yuan, 0.3% relative to the Australian dollar and sterling and 0.2% vis-a-vis the kiwi and loonie. The dollar is unchanged against the Japanese yen and 0.3% firmer relative to the Mexican peso. Today’s main event will be […] More
Yellen, French Elections and Geopolitics Impacting Markets
April 10, 2017
Fed Chair Janet Yellen speaks later today at an event at the University of Michigan. St. Louis Fed District President Bullard is the latest Fed official to suggest that the Fed may end reinvestment of maturing bonds in its portfolio later this year and thus begin the slow process of reducing the size of its […] More
Lots of U.S. Data and a Yellen Press Conference This Ides of March
March 15, 2017
The Federal Reserve will release new macroeconomic forecasts and is expected to raise the fed funds target at 18:00 GMT, and the press conference begins a half hour later. The dollar softened overnight by 0.6% against the peso, 0.5% versus sterling, 0.4% relative to the New Zealand and Australian dollars, 0.3% vis-a-vis the loonie and […] More
Ahead of the Yellen Speech
March 3, 2017
A slew of Fed officials have put a March interest rate hike firmly in play. Later today, both Vice Chair Fisher and Chair Yellen speak. There have been times before when the rest of the FOMC rhetorically seemed ahead of Yellen in itching to raise rates, but that seems unlikely in this instance. In fact, […] More
Fed and Flynn
February 15, 2017
Markets are trading on two themes primarily: How quickly will the Fed raise interest rates again? Yellen’s testimony yesterday and separate remarks by Fed District Presidents Kaplan and Lacker suggest a third increase is coming pretty soon and need not be delayed pending clarification of fiscal and other policy changes. Yellen reprises her testimony before the […] More
A Valentine’s Day Full of Data and Other Developments
February 14, 2017
Market Movement: The dollar is higher against sterling but lower against the euro, Swissie, yen, and commodity-sensitive currencies. Oil and gold climbed 1.3% and 0.7% overnight. 10-year German bund and Japanese JGB yields rose a basis point, while the 10-year Treasury and British gilt slid a basis point. Japan’s Nikkei slumped 1.1%. Central Bank News: […] More
