Author: Michael Crowley

Euro under pressure amid political woes in France

The resignation of the very recently installed French Prime Minister yesterday morning – after he failed to garner support for his new cabinet – caught markets on the hop. It saw the euro quickly fall to lows for the day of around $1.1650 and £0.8675 against the dollar and sterling, with the single currency only […]

Dollar on the front foot this morning

The euro traded between $1.1680 and $1.1780 against the dollar last week and opens this morning at around $1.17. Sterling traded up to a high of almost $1.3530 and down to a low of about $1.3390 over the course of the week and is hovering around $1.3450 at the start of play today. Both are […]

Dollar gives up gains

Amid a scarcity of economic data releases (partly due to the US government shutdown), the dollar threatened to break higher yesterday but was unable to hold onto its gains. This sees EURUSD back at around $1.1725 this morning having traded down to a low of $1.1680 yesterday, while similarly, sterling is trading just under $1.3450 […]

US bond yields fall on weak jobs data

Yesterday’s much weaker than expected ADP jobs report in the US looked initially like it might cause a stir in markets, but in the end the price action proved limited enough with some caution prevailing amid the uncertainly caused by the government shutdown in the US. A firming of Fed rate cut expectations on the […]

Dollar softer as US govt shuts down

Markets are relatively calm this morning notwithstanding the government shutdown in the US. The Senate yesterday failed to pass a funding bill that would have averted a shutdown, the effects of which will range from a furloughing of Federal employees to a delay to economic data releases. Government shutdowns are nothing new in the US […]

Main currency pairs treading water

The main currency pairs largely treaded water yesterday with the dollar under a little bit of pressure amid some concerns about a government shutdown in the US. The latter now seems more likely, as talks to resolve the issue didn’t appear to make much progress, one consequence of which would be to delay Friday’s payrolls […]

A key week of US economic data

The dollar gave up some ground on Friday following ‘as expected’ inflation data in the US though it still ended firmer on the week overall, gaining around half a cent and three-quarters of a cent against the euro and sterling respectively. The week ahead could prove consequential for the US currency and indeed for markets […]

Dollar extends its gains

A slew of stronger than expected US economic data yesterday, including an upward revision to Q2 GDP growth and a fall in new unemployment claims, led to a further paring back of Fed rate cut expectations and broad-based gains for the dollar. This saw the euro and sterling fall to intra-day lows of around $1.1650 […]

Dollar firmer albeit within tight ranges

The dollar strengthened against a broad range of currencies yesterday, although its gains were modest enough (a bit more than 0.5%), amid some paring back of Fed rate cut expectations and higher US bond yields. EURUSD and GBPUSD are trading at around $1.1740 and $1.3460 respectively this morning, down from Tuesday’s closing levels of $1.1815 […]

Main currency pairs little changed

Movements in the main currency pairs were modest enough yesterday. The euro and sterling both ended the day little changed against the dollar from Monday’s close, while EURGBP was also largely flat on the day. The flash PMIs for September were broadly in line with expectations in the case of the Euro area but weaker […]