Haiti's Currency Plunges to 125 to $1 USD Haitian Times
* This article was originally published here
Monday, August 31, 2020
A Wide Mix of Data Reports on August’s Final Day
The dollar strengthened 0.5% against the yen, 0.3% versus the peso, and 0.2% relative to sterling but fell 0.3% against the euro and yuan, 0.2% vis-a-vis the loonie and Swiss franc, and 0.1% against the Australian dollar. British markets are shut for the late summer bank holiday. Share prices elsewhere advanced 1.1% in Japan but […]
* This article was originally published here
* This article was originally published here
Saturday, August 29, 2020
Friday, August 28, 2020
Dollar Downtrend Accelerates
Powell’s speech that formally redefined the Federal Reserve’s inflation target and policy response function implies lower U.S. interest rates for longer and gave the dollar’s pandemic-related downtrend further impetus. Overnight the dollar depreciated by 1.3% against the Mexican peso, 1.7% relative to the Australian dollar, 1.2% versus the yen and kiwi, 0.8% vis-a-vis sterling and […]
* This article was originally published here
* This article was originally published here
Thursday, August 27, 2020
Comment on U.S. Presidential Election Results and Economic Growth
In this year’s bid for a second term, President Trump is taking credit for better U.S. economic growth than his predecessors were able to achieve at least over the first three years prior to the pandemic. For this note, I examined real GDP in the Trump Presidency and compared such to the first terms of […]
* This article was originally published here
* This article was originally published here
Awaiting Speeches from Central Bankers
The third night of the Republican National Convention was mostly about law and order. The event concludes today with President Trump’s key speech to the party faithful. The message of “law and order” surfaced during the President Nixon’s 1968 successful run for president and has been a basic tenet of Republican campaigns ever since. Law […]
* This article was originally published here
* This article was originally published here
Wednesday, August 26, 2020
Marking Time Amid an Eclectic Assortment of Data Reports
There’s been no dominant market theme Wednesday. Investors await the virtual Jackson Hole central banker symposium that kicks off tomorrow with a widely awaited speech from Fed Chairman Powell. The RNC provided more red meat to the pro-Trump faithful on its second night. Optimism persists that the United States and China will avoid all-out trade […]
* This article was originally published here
* This article was originally published here
Tuesday, August 25, 2020
Some Encouraging U.S.-Sino Trade News Fans Investor Sentiment Further
Equity markets had rallied strongly on Monday and then received a further lift overnight from the news that U.S. and Chinese trade negotiators reported progress and reaffirmed that the Phase I trade deal remains effective. In other overnight developments, The Republican Party National Convention kicked off with loads of fear-mongering directed at the Democratic Party […]
* This article was originally published here
* This article was originally published here
Monday, August 24, 2020
Vaccine and Treatment Hopes Spring Eternal
Faith is trumping science in guiding market thinking regarding Covid-19. My doctor recently told me not to expect to get a coronavirus vaccine for almost another year but to be very sure to get my annual flu vaccine this autumn because the ride is apt to get bumpy then. Markets, on the other hand, are […]
* This article was originally published here
* This article was originally published here
Sunday, August 23, 2020
Friday, August 21, 2020
Next Week’s Menu: August 22-28, 2020
Central Bank: Monetary policies will be reviewed in South Korea, Iceland, Hungary and Poland, minutes will be published from the mid-August Bank of Mexico Governing Board meeting. Special Events: The U.S. Republican Party National Convention runs Monday through Thursday. The annual Jackson Hole central banking symposium is scheduled for Thursday-Friday. Both events will be done […]
* This article was originally published here
* This article was originally published here
Dollar Ending Down Week on an Up Note
Former VP Joseph Biden’s presidential nomination acceptance speech capping the Democratic Party National Convention was well-received, inspirational and with no major gaffes. The Republican Party National Convention next week runs from Monday through Thursday. Preliminary purchasing manager August surveys reveal a loss of growth momentum in Euroland, stalled progress in Japan, a return to sub-50 […]
* This article was originally published here
* This article was originally published here