Author: Michael Crowley

Dollar under pressure

The dollar remains under pressure following Friday’s weak jobs data in the US, which has buoyed market expectations for Fed rate cuts. The euro is trading at a post-jobs data high of around $1.1770 – notwithstanding the collapse of the government in France after it lost the confidence motion in parliament yesterday evening – and […]

US jobs report weaker than expected

Friday’s much weaker than expected jobs report in the US – the economy added just 22k jobs in August – would seem to have sealed a cut in interest rates at next week’s Fed meeting (17th), although there’s still inflation data for August to come this Thursday (they would  probably need to show inflation a […]

Dollar softer ahead of US jobs data

The main currency pairs largely treaded water yesterday amid a mixed bag of economic data, though both US bonds and equities finished the day strongly. The euro and sterling are edging a little higher against the dollar this morning, ahead of the key employment report in the US later today, trading at around $1.1670 and […]

Bonds reverse course as yields fall

Yesterday’s price action in markets was the polar opposite of Tuesday’s. The dollar and bond yields fell as softer than expected US labour market data contributed to a firming of Fed rate cut expectations, while stocks reversed most of their previous day’s losses. In FX, the euro and sterling are trading at around $1.1660 and […]

Dollar gains as bonds and stocks slide

It turned out to be eventful enough in markets yesterday with the dollar staging a broad-based rally as bonds and equities sold off together. Sterling was a notable underperformer on the day, falling by just over 1% against the dollar and by 0.6% against the euro, as concerns that the UK Prime Minister’s new and […]

Dollar firmer this morning

It was quiet in markets yesterday with the US on public holiday and economic data thin on the ground. In FX, the euro and sterling lost some ground to the dollar during the course of the day and both are lower again this morning, trading at around $1.1675 and $1.3450 respectively, while EURGBP is little […]

US jobs report key release this week

The euro and sterling finished Friday close to their highs of the week against the dollar and have advanced further this morning to trade at around $1.1720 and $1.3520 respectively, leaving EURGBP a touch firmer at £0.8670. Both rose by around 3 cents (or more than 2%) during August, their gains triggered by a much […]

Euro recovers some ground

The euro advanced against both the dollar and sterling yesterday, although its gains were modest, with some easing of market concern about the political situation in France (evident in a decline in French government bond yields) supporting the single currency. It is trading at around $1.1670 and £0.8650 respectively this morning, off lows earlier this […]

US short-dated yields head south

The dollar failed to sustain early gains yesterday as some firming of Fed rate cut expectations and a decline in US bond yields weighed on the currency. Hence the euro and sterling are back trading at around $1.1640 and $1.35 respectively this morning, well off yesterday’s lows of circa $1.1575 and $1.3415. EURGBP is little […]

EURUSD back at around $1.16

While Donald Trump’s firing of Fed Governor Cook – which will be contested in the courts – has drawn much commentary, the fallout in financial markets has been very limited so far. In FX, the dollar weakened a little initially but has recovered since, and is currently not much changed from yesterday morning’s levels against […]