Currencies
Dollar record The dollar soared to another record after the White House talked down the prospect of weakening the currency. Yellen calm | US Treasury Secretary Janet Yellen said financial markets are functioning well, after a tumble in equities and Treasuries and a surge in the dollar unsettled investors. Exports in US dollar terms expanded 7.1% last month, the weakest pace of growth since April when a lockdown in Shanghai disrupted ports and snarled trade.
But note it’s not that far from the New Zealand dollar, and also a little bit better than the Norwegian krone as well as the Chilean peso. Then there s the whole dollar situation: Apple sells a lot of iPhones overseas but counts its profits in American currency. Verily is one of Google s long-term projects that aim to develop society-transforming technologies and multibillion-dollar businesses. The British pound is near the bottom of the performers, not surprisingly.
But note it’s not that far from the New Zealand dollar, and also a little bit better than the Norwegian krone as well as the Chilean peso. Then there s the whole dollar situation: Apple sells a lot of iPhones overseas but counts its profits in American currency. Verily is one of Google s long-term projects that aim to develop society-transforming technologies and multibillion-dollar businesses. The British pound is near the bottom of the performers, not surprisingly.
Oil
There s also the weekly EIA US crude-inventory report.
United States
Food insecurity has been spreading among Americans with low-paying jobs, a situation that could worsen as the US Federal Reserve raises interest rates and the economy slows. Fedspeak | St. Louis Fed chief James Bullard led a spate of officials pushing for more interest-rate hikes and guarding their credibility. Even contracts on the Nasdaq 100 were down.Of course, the iPhone being the iPhone, we re not talking catastrophe here. The Fed s Mary Daly, Raphael Bostic, Charles Evans and ECB President Christine Lagarde speak at events today.
The US sells 7-year notes. Wall Street hires WhatsApp cops.
The US sells 7-year notes. Wall Street hires WhatsApp cops.
Europe
News to Note The European Union is considering a German proposal to ban EU nationals from holding high-paying roles in Russian state-owned companies, sources said. Hiking plans | European Central Bank chief Christine Lagarde led a flurry of officials speaking on rates.
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