Author: Michael Crowley

Sterling a touch softer at the off

There wasn’t a whole lot of movement in FX markets yesterday with the main currency pairs largely in consolidation mode, for now at least. The euro dipped to low of circa $1.15 against the dollar during the course of yesterday’s session but is back up to around $1.1530 this morning. Sterling is a touch weaker […]

Bank of England in spotlight this week

The euro and sterling both lost ground against the dollar last week, shedding around one and two cents respectively (and two and three cents respectively for the month of October), most of this clocked up following Wednesday’s more hawkish than expected Fed meeting. The single currency (at $1.1530) is trading at the bottom end of […]

Dollar remains on the front foot

While the ECB kept interest rates unchanged at 2% yesterday as widely expected, it was the continuing fallout from Wednesday’s more hawkish that expected Fed meeting – which dampened rate cut expectations and boosted the dollar – that drove the price action in FX markets. The euro and sterling fell to fresh post-meeting lows against […]

Dollar slightly firmer post Fed meeting

The Fed cut interest rates by 25bps to 3.75%-4% following yesterday’s meeting, as widely expected. However, Fed Chair Powell caused a stir in markets when he said at the post-meeting conference  that “a further reduction at the December meeting is not a foregone conclusion, far from it.” Given that another 25bps cut in December had […]

Sterling at new 2025 low versus euro

Sterling lost ground against both the euro and the dollar during yesterday’s session, which seemed to be related to an FT report suggesting the Chancellor of the Exchequer is facing a larger than expected ‘black hole’ in the UK public finances ahead of her budget next month. The pound is trading at a new 2025 […]

Euro firmer ahead of Fed/ECB meetings

The euro has regained ground against the dollar following Friday’s softer than expected US inflation data and ahead of Fed – expected to cut by 25bps – and ECB – expected to stay on hold again – interest rate announcements tomorrow and Thursday respectively. Positive sentiment in equity markets, fuelled by optimism regarding some sort […]

Inflation data in the US today

Markets are looking forward to having some economic data to digest today, with flash PMIs for October due in the main economies and September CPI inflation scheduled in the US, though whether they to anything to alter the largely sideways trading in the main FX pairs recently remains to be seen. UK retail sales data […]

Euro remains on the defensive

It was quiet in FX markets yesterday with the main currency pairs confined to fairly narrow ranges. The euro remains on the defensive against the dollar though, trading down to a low of just under $1.1580 yesterday and hovering around the $1.16 level this morning. Sterling fell to a low of about $1.33 against the […]

Sterling softer after UK inflation data

It was more of the same really in FX markets yesterday with the price action limited enough once again and the dollar continuing to edge higher. UK inflation data for September released a short while ago came in softer than the market expected, hence sterling is a little weaker as a result. The pound has […]

Dollar creeping higher

While stocks chalked up solid gains again yesterday, it was relatively uneventful in bond and FX markets. The dollar continues to creep higher and has now more or less retraced all of the decline that occurred in the latter part of last week. EURUSD is trading at around $1.1630 this morning, down about a cent […]