Tag Archive: Japan Current Account n.s.a.

FX Daily, July 8: Consolidation is the Flavor of the Day

2020-07-08

The S&P 500's longest advance this year was stopped seemingly as concern that the flare-up in the virus will slow the recovery. The sell-off in airlines and hotels helped spur a broader bout of profit-taking. Most Asia Pacific bourses advanced, led by the continued rally in Hong Kong and China. Europe's Dow Jones Stoxx 600 is posting its first back-to-back decline in nearly a month.

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FX Daily, June 8: Monday Blues: Consolidation Threatened

2020-06-08

by Marc Chandler

2020-06-08

Overview: The MSCI Asia Pacific Index rose for a sixth consecutive session. Japan, Taiwan, Singapore, and Indonesian markets advanced more than 1%. European bourses are mixed, with the peripheral shares doing better than the core, leaving the Dow Jones Stoxx 600 about 0.5% lower near midday after surging 2.5% ahead the weekend. US shares are firm, as is the 10-year yields, hovering near 92 bp.

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FX Daily, May 13: Will Powell have any more Luck Pushing against Negative Rate Expectations in the US?

2020-05-13

by Marc Chandler

2020-05-13

Overview: Another late sell-off in US shares, this one perhaps related to the sobering assessment by the leading medical adviser for the Trump Administration about the risks of opening too early, failed to deter investors in the Asia Pacific region. Although Japanese shares slipped, most other markets rose. India led the way (~2%) after a fiscal stimulus program was announced.

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FX Daily, January 14: China was a Currency Manipulator for a Few Months

2020-01-14

by Marc Chandler

2020-01-14

Overview: The leaked US decision to lift the currency manipulator designation on China was the latest fodder fueling the new record highs in the S&P 500. The risk-taking appetite helped extend the rally in the MSCI Asia Pacific Index for the fourth consecutive session. Europe's Dow Jones Stoxx 600 is little changed and trying to snap a two-day decline.

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FX Daily, October 8: Not a Good Day for Negotiators

2019-10-08

by Marc Chandler

2019-10-08

The re-opening of Chinese markets after a long holiday did not produce the volatility that many expected. Chinese stocks alongside most Asia markets traded higher today, and the yuan advanced. After opening higher and extending its recent rally, Europe's Dow Jones Stoxx 600 turned down, even though Germany announced an unexpected gain in August industrial output. US shares are trading a bit lower.

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FX Daily, August 8: PBOC Helps Stabilize CNY, while US Equity Recovery Lifts Sentiment

2019-08-08

by Marc Chandler

2019-08-08

Overview: The challenges for investors have not gone away, but a combination of factors has helped stabilize the capital markets. The PBOC set the dollar's reference rate above CNY7.0, but not as high as anticipated, and this has seen the yuan strengthen modestly today. Meanwhile, the strong recovery in the S&P 500 has spilled over and helped lift global equities.

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FX Daily, March 08: Euro Slips Ahead of the ECB Meeting

2018-03-08

by Marc Chandler

2018-03-08

Expectations that the European Central Bank would change its forward guidance in a substantive way had been one of the factors behind the euro's appreciation. However, more recently, the anticipation has slackened. The last meeting took place around the same time that many perceived US Treasury Secretary Mnuchin as having abandoned the strong dollar policy.

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FX Daily, February 08: Dollar Firms, While Equities Search for Stability

2018-02-08

by Marc Chandler

2018-02-08

The swings in the equity markets are subsiding, bond yields are firm and the US dollar is extending its recovery. Although US equities closed lower, the MSCI Asia Pacific Index snapped a four-day drop by posting a 0.25% gain. However, the MSCI Emerging Markets Index is off nearly as much, though the range was modest. European markets are also lower, and the range for the Dow Jones Stoxx 600 is the smallest in more than a week.

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FX Daily, October 10: Dollar Pullback Extended

2017-10-10

by Marc Chandler

2017-10-10

The US dollar's advance faltered before the weekend after rise average hourly earnings and a new cyclical low in unemployment and underemployment initially fueled greenback buying. There is no doubt the data was skewed by the storms, though the upward revision to the August hourly early cannot be attributed to the weather distortions. The reversal in the dollar before the weekend has carried over into the early trading this week. Even the Turkish...

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FX Daily, August 08: Trade Featured as Dollar Drifts Lower

2017-08-08

by Marc Chandler

2017-08-08

The US dollar has a slightly lower bias today, but the against most of the major currencies, it is consolidating within the range set at the end of last week. The main exceptions are sterling and the Canadian dollar. They had extended their pre-weekend losses yesterday, and are trading within yesterday's range today.

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FX Daily, July 10: Firm Dollar Tone may be Challenged by Softer Yields

2017-07-10

by Marc Chandler

2017-07-10

The US dollar has begun the new week on a firm note, but the decline in yields limit the gains. The US 10-year yield is pulling back from the 2.40% area, which is it not been able to sustain gains above since Q1. European bond yields are also 1-3 basis points lower today after jumping last week.

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FX Daily, June 08: Thursday’s Show

2017-06-08

by Marc Chandler

2017-06-08

Today has an anti-climactic feel to it. Yesterday's leak of what is purported to be the ECB staff forecasts point to small downward revisions to inflation forecasts and an ever small upward tweak to growth. This would be in line with only mild changes in the forward guidance language. The clear indication is that inflation is still not the conditions of a self-sustaining path toward the target.

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FX Daily, May 11: Canadian and New Zealand Dollars Get Whacked, While Greenback Consolidates

2017-05-11

by Marc Chandler

2017-05-11

The US dollar has been mostly confined to about a 30 pip range against the euro and yen in Asia and the European morning. Sterling is under a little pressure after a series of poor data, including larger than expected falls in manufacturing and construction output, and a sharp widening of the trade deficit.

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FX Daily, April 10: Dollar Narrowly Mixed at Start of Holiday Week

2017-04-10

by Marc Chandler

2017-04-10

The US dollar is narrowly mixed after a brief attempt in Asia to extend its pre-weekend gains fizzled, and a consolidative tone has emerged. The news stream is light and largely limited to the current Japanese account and the Sentix survey from Europe.

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FX Daily, October 11: The Dollar Remains Bid

2016-10-11

by Marc Chandler

2016-10-11

FX Performance, October 11 2016 Movers and Shakers

The US dollar is bid against all the major and most emerging market curerncies. An important driver is the backing up of US rates. The two-year yield, which is particularly sensitive to Fed policy is at it highest levbel since early June (~86 bp). The US 10-year yield is five basis points hihger today at 1.77%, which is the highest in four months.

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