Tag Archive: Spain Industrial Production

Industrial Production measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.

FX Daily, March 09: Today is about Jobs, but Not Really

2018-03-09

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2018-03-09

The US Administration has softened its initial hardline position of no exemptions for the new steel and aluminum tariffs. There is little doubt that the actions will be challenged at the World Trade Organization and the idea that national security includes the protection of jobs for trade purposes will be tested. At the same time, US President Trump has agreed to meet North Korea's Kim Jong Un.

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FX Daily, January 11: Capital Markets Calmer, Greenback Consolidates

2018-01-11

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2018-01-11

As market participants were just getting their sea legs back after the start of the year, it was hit by a one-two punch of ideas that BOJ policy was turning less accommodative and that Chinese officials were wary of adding to their Treasury holdings. Then late yesterday, a news wire reported that Canada suspected the US was going to withdraw from NAFTA.

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FX Daily, December 05: Sterling Sold on Negotiating Snafu, Aussie Bounces on Retail Sales and RBA

2017-12-05

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2017-12-05

The US dollar is confined to narrow ranges against the euro and yen, straddling unchanged levels in the Asian session and the European morning. The action in elsewhere. The British pound is the weakest of the majors, paring 0.4% against the greenback, though around $1.3425, it can hardly be considered weak. A month ago, sterling was a few cents lower. Still, its gains reflected two things: broader dollar weakness and optimism on Brexit talks.

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FX Daily, October 6: Look Through the US Jobs Report

2017-10-06

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2017-10-06

Traders are putting the final touches on another strong weekly performance for the US dollar. Strong economic data, including the PMIs, auto sales, and factory orders have surprised to the market. The ADP report warns that the storms that flattered some high frequency data will likely skew today's employment report (both headline and details) to the downside. Of course, investors will quickly look for the number of people who could get to work due...

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FX Daily, September 08: US Dollar Tracks Yields Lower

2017-09-08

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2017-09-08

The US dollar has been unable to find any traction as US yields continue to move lower. The US 10-year year is slipping below 2.03% in European turnover, the lowest level in ten months. The risk, as we have noted, is that without prospects of stronger growth and inflation impulses, the yield returns to where was before the US election (~1.85%). The two-year note yield, anchored more by Fed policy than the long-end,  is also soft. It yielded 1.25%...

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FX Daily, July 07: Taper Tantrum 2.0 Dominates

2017-07-07

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2017-07-07

Taper Tantrum 2.0, emanating from Europe rather than the United States continues to overshadow other developments. Yesterday, the yield on the 10-year German Bund pushed through the 50 bp mark that has capped the occasional rise in yields in recent months. The record of the ECB meeting was understood as indicating that the official assessment had surpassed the actual communication in order try to minimize the impact.

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FX Daily, June 07: Markets Mark Time Ahead of Tomorrow

2017-06-07

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2017-06-07

Tomorrow may be the most important day of the quarter for investors. The ECB meets. The UK goes to the polls. Former FBI Comey testifies. Ahead of these significant events, the global capital markets are mostly quiet, with some pockets of activity.

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FX Daily, May 05: Mixed Dollar Ahead of US Jobs Data and Fed Talk

2017-05-05

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2017-05-05

The US dollar is narrowing mixed as the employment data, and Fed speeches are awaited. Six Fed officials speak today, including Yellen and Fischer. Regional Presidents Williams, Rosengren Evans and Bullard also speak. It will be the first flurry of speeches since the FOMC meeting.

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FX Daily, February 08: EUR/CHF down to 1.630, Swiss Boom Starting?

2017-02-08

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2017-02-08

EUR/CHF - Euro Swiss Franc, February 08
The reader might have seen the latest Swiss Consumer Sentiment and the UBS consumption indicator. They suggest that the Swiss boom phase should finally come. I anticipated the boom already in my slides for the CFA Society. The Swiss boom was postponed when the SNB decided to remove the euro peg in early 2015.

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FX Daily, January 11: Dollar Comes Back Bid

2017-01-11

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2017-01-11

FX Performance, January 11 2017 Movers and Shakers
The pound has seen a sharp fall following the interview that Theresa May gave with Sky news on Sunday although there has been a small rebound this afternoon. GBP CHF exchange rates are hovering around 1.2350 for this pair.

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FX Daily, November 07: Dollar Stabilizing After Bounce

2016-11-07

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2016-11-07

FX Performance, November 07 2016 Movers and Shakers
The DAX also gapped lower before the weekend and gapped higher today. It is stalling just ahead of the earlier gap from last week (10460-10508). It is up about 1.6% in late-morning turnover. The strongest sector is the financials, up 2.5%, with the banks up 3.4%. Deutsche Bank is snapping a five-session drop. It fell 9.1% last week. It has recouped more than half of that today.

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FX Daily, October 07: Sterling Stabilizes After Harrowing Drop, Now Jobs

2016-10-07

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2016-10-07

FX Performance, September 7, 2016
Sterling again steals the limelight. In early Asia, sterling inexplicably dropped nearly eight cents in minutes (to ~$1840), and on some platforms, may have traded below $1.1380. It almost immediately rebounded but has not resurfaced above $1.2480.

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FX Daily, August 05: US Jobs Data on Tap, but Don’t Expect Miracles

2016-08-05

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2016-08-05

The focus is squarely on the US employment data today, ahead of which the capital markets are mostly consolidating yesterday's Bank of England inspired moved. The Australian and New Zealand dollars, alongside sterling, which is up about half a cent after losing two yesterday.

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FX Daily, April 7: Yen Continues to Climb

2016-04-07

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2016-04-07

The main feature in the foreign exchange market continues to be the surge of the Japanese yen.  A convincing explanation of the yen's strength seems elusive.  Until last week, which means through the fiscal year-end last month, Japanese fund managers have been buying foreign bonds at a near-record pace.  Foreign investors, for their part, have …

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