Overview: The risk that the war in Israel spreads remains palatable, and several observers have warned of the greatest risks of a world war in a generation. Still, the capital markets remain relatively calm. The US dollar is softer after closing last week firmly. The only G10 currency unable to post corrective upticks today is the …
Capital Markets are Calm though Anxiety Continues to Run High Read More »
Overview: US economic data surprised to the upside yesterday, and although interest rates rose as one would expect, the dollar’s initial gains were pared, and the Dollar Index finished slightly lower on the day. This seemed, in some respects, to echo how the greenback reacted to the recent jobs report. However, then, interest rates softened, but …
Geopolitical Tensions Lift Oil and Gold, but little Sign of Haven Buying in FX Read More »
Overview: The greenback did not strengthen yesterday in Asian and European turnover despite the deteriorating conditions in the Middle East, but it did rally as North American participants entered the fray. Indeed, the Dollar Index rose from a marginal new four-day low to a marginally new four-day high. The safe haven bid seen in gold and …
Greenback Remains Bid and the Market has not Given Up on JPY150 Read More »
Overview: US and UK markets are closed for holidays today, contributing to the rather subdued price action today. The MSCI Asia Pacific Index rallied two percent last week, the most in three months, and most markets began off the week with modest gains. Japan, Australia, and Singapore, for notable exceptions. Europe’s Dow Jones Stoxx 600 took …
China Raises Reserve Requirement for FX, Stemming the Yuan’s Rise Read More »
Overview: US and UK markets are closed for holidays today, contributing to the rather subdued price action today. The MSCI Asia Pacific Index rallied two percent last week, the most in three months, and most markets began off the week with modest gains. Japan, Australia, and Singapore, for notable exceptions. Europe’s Dow Jones Stoxx 600 took …
China Raises Reserve Requirement for FX, Stemming the Yuan’s Rise Read More »
Overview: The S&P 500 and NASDAQ set new all-time highs yesterday, but the continued outperformance of US equities have failed to lend the dollar much support. It was sold to new lows for the year yesterday against the euro, sterling, the Swedish krona, and the Australian dollar. Asia Pacific equities were mixed. China, Taiwan, and …
US Equities Outperform but Does Little for the Heavy Greenback Read More »
Overview: The NASDAQ rallied 1% yesterday to record highs as the Dow Industrials struggled, and the S&P 500 was able to eke out a small gain. The coattails were short, and the strength of the yen may have contributed to a 0.2% loss of the Nikkei. Still, its 6.2% advance this month is the best …
Canada Shrugs Off Loss of Morneau and Gold Reclaims $2000 Threshold Read More »
Overview: The capital markets are looking for direction. Asia Pacific equity markets were mixed, with gains in China, Hong Kong, and Taiwan countering losses in Japan, South Korea, and Australia. European and US shares are trading slightly firmer. Benchmark bond yields are mostly 1-2 basis points lower in Europe, and the US 10-year yield is …
Overview: The equity rally is stalling ahead of the weekend. Most markets in the Asia Pacific region eased, though China and Australia advanced. Japanese shares were mixed. The Nikkei, though advanced for the fourth consecutive session, while the Topis slipped. European stocks are off more, and once again, the 200-day moving averaging is capping the Dow …
Overview: The biggest rise in the US 10-year yield in a couple of months, as the record quarterly refunding, got underway may have helped stabilize the dollar after an earlier decline. The S&P 500 threatened to extend its advance for the eighth consecutive session yesterday, but a late sell-off stopped it cold after scaling to new …
Dollar was Sold in Asia and Europe, but is Poised to Bounce in North America Read More »