Not much reaction from the FX market There is a low-volume rally underway in stocks. It’s the final trading day of the month and the S&P 500 is at the best levels of the day, up a solid 34 points to 2639.
The tit-for-tat continues This week the US announced it was closing the Russian consulate in Seattle.
Weekly US oil and gas drilling rigs from Baker Hughes – Prior was 804 – Natural gas rigs 194 vs 190 prior – Total rigs 993 vs 995 A small slowdown in drilling after many weeks of gains.
February employment data from Japan Job-To-Applicant Ratio 1.58 Jobless Rate 2.5% The background to this data is jobs growth in Japan – employment indicators show improvement. January’s drop in the u/e rate (there was a jobs spike in the accommodation, eating & drinking service industries with tourist demand from Asia during the lunar new…
Last week we got the ‘national’ CPI data for Japan in February: Today we get the ‘Tokyo’ inflation data, but for March. Tokyo CPI data is available around 3 weeks earlier than the National CPI and is looked to as a guide to the national result. Inflation has been beginning to move more consistently higher,…
Forex headlines for North American trading on March 29, 2018: Markets: – Gold flat at $1324 – S&P 500 up 36 points to 2640 – WTI crude up 54-cents to 64.92 The FX market decided three days this week was plenty of drama. Stock, bond and commodity markets were bouncing around but the forex market…
The bond bears have gone silent Bond are in style at quarter end. US 10-year yields are at the lowest since early February. The curve also continues to flatten.
Closing changes for the main European bourses: Here were the moves in the first quarter: – German DAX -6.2% – UK FTSE 100 -7.7% – French CAC -2.4% – Spain IBEX -4.1% The euro rose about 2.5% in the quarter so that mitigates the moves for foreign investors.
Inflation falls in Dallas Fed measure Annualized trimmed mean inflation was 1.7% in February, down from 2.8% in January, according to the Dallas Fed. This measure has a few fans in the FOMC.
Hopes for a comeback aren’t looking good AP reports that Sarkozy has been ordered to stand trial for corruption and influence peddling. He’s under a few investigations. This one is an accusation that he tried to illegally get information from a judge about an investigation targeting him.