Tag Archive: autos

The Dollar Continues To Recover

2024-05-17

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2024-05-17

Overview: The dollar's recovery begun yesterday has extended into today's activity. The greenback is higher against all the G10 currencies and most emerging market currencies, but the Indian rupee and Mexican peso. The BOJ did not reduce its bond buying at today's operation and the market sold the yen on the news. After reaching JPY153.60 yesterday, the greenback is near JPY156 now. New initiatives to support the beleaguered property market was not...

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Consolidation Featured Ahead of Tomorrow’s US Retail Sales and Friday’s Japanese Wage News

2024-03-13

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2024-03-13

Overview: We came into this week expecting the dollar to rise on the back of a recovery in rates. The two-year note has risen from 4.40% after the jobs report to 4.60%. The dollar's rise has been less impressive.

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The Dollar Comes Back Bid

2023-04-19

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2023-04-19

Overview: It has taken some time, but the dollar has found better traction. It traded above JPY135 for the first time since mid-March and yesterday's setback has been mostly recouped against the other G10 currencies. Sterling is the most resilient after higher-than-expected inflation. Equities are lower. Japan's Nikkei snapped an eight-day advance and most of the other large bourses in the region (except Australia and South Korea) fell. Europe's...

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Weekly Market Pulse: Look Up In The Sky! It’s A UFO! Or Not!

2023-02-13

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2023-02-13

As I sit here writing this Sunday afternoon, the US has just shot down a third UFO in the last 3 days in addition to the Chinese “weather” balloon last week. I have no insight into what these things might be but I do wonder if we haven’t declared war on the National Weather Service. The federal government has become so sprawling that it could easily be the case that NORAD has no idea what the NWS has up in the air.

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RBA Jettisons Yield Curve Control but Continues to Resist Market Pressure

2021-11-02

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2021-11-02

Overview: The third record close of the S&P 500 failed to lift Asia Pacific and European shares today.  In Asia, the large bourses fell, except South Korea, which rallied a little more than 1%.  Europe's Stoxx 600 is threatening to snap a three-day advance, while US index futures are soft.  The US 10-year yield is firm, around 1.56%.  European bonds are rallying.  Peripheral yields are off 8-9 bp, while core rates are 3-5 lower.  The Reserve...

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FX Daily, June 02: The Dollar Snaps Back

2021-06-02

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2021-06-02

The US dollar is enjoying broad, even if not large, gains today following yesterday's recovery from three-year lows against sterling and four-year lows against the Canadian dollar. The greenback is firmer against all the major currencies.

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FX Daily, February 18: Markets Chill

2021-02-18

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2021-02-18

The bout of profit-taking in equities continued today, and most markets in Asia Pacific and Europe are lower. China's markets re-opened but struggled to sustain early gains. However, the Shanghai Composite rose by about 0.5%, and a smaller increase was recorded in Taiwan and an even smaller gain in Australia.

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FX Weekly Preview: Fed’s Mid-Course Correction to be Challenged while ECB Resumes Bond Purchases

2019-10-28

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2019-10-28

The week ahead will help shape the investment climate for the remainder of the year.  The highlights include three central bank meetings (Federal Reserve, Bank of Japan, and the Bank of Canada).  Among the high-frequency data, the US and the eurozone report the first estimates of Q3 GDP, and the US October jobs data and auto sales will be released.  Investors will also get the preliminary Oct CPI for EMU.

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FX Daily, May 17: China Questions US Sincerity

2019-05-17

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2019-05-17

Since the presidential tweets on May 3, the US had the initiative in the negotiations with China, but today, China has pushed back. It is cool to the idea promoted by the US that trade talks will resume shortly. Now it may take the Trump-Xi meeting at the end of next month to restart talks. This, coupled with US sanctions on Huawei banning imports from it and sales to it, threatens to disrupt business and this took a toll on Chinese, Taiwanese and...

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New Patterns of Disturbance

2017-04-22

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2017-04-22

Industrial Production, 1991 - 2016
Having finally established that the economy of the “rising dollar” was appreciably worse than first estimated, we can turn our attention back toward figuring out what that means for the near future and beyond. According to the latest estimates for Industrial Production, growth has returned but in the same weird asymmetric sort of way that is actually common for the past decade. Year-over-year IP expanded by 1.5% in March 2017, the highest growth...

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