Author: Michael Crowley

Dollar a touch softer

Doubts surrounding the US-Iran ceasefire weighed on markets for much of yesterday’s session. However, Israel’s announcement that it would hold direct talks with Lebanon helped change the mood late on. Oil prices fell back and US stocks rallied into the close, ending higher on the day overall, while Asian equity markets have advanced overnight. The […]

Dollar regains some ground

After the strong relief rally that followed the announcement of the US-Iran ceasefire, some early concerns about the status of the ceasefire, mainly related to Israel’s continuing attacks on Lebanon, is weighing a little on markets. US bond yields reversed course late in yesterday’s session, moving higher to end largely flat on the day, while […]

Relief rally

There is relief in markets this morning after Donald Trump suspended US attacks on Iran. The two sides have agreed a 2-week ceasefire, which will allow for the Strait of Hormuz to re-open in the intervening period. Oil prices have fallen sharply – Brent crude is down around $15 from yesterday’s close to just under […]

Main currency pairs little changed

The main currency pairs are little changed from last Thursday morning, with EURUSD and GBPUSD trading at around $1.1540 and $1.3240 respectively and EURGBP still hovering just above the £0.87 level. Markets generally may tread water today ahead of tonight’s Trump-imposed deadline for Iran to reopen the Strait of Hormuz. Economic data of note this […]

Markets reverse course

Markets are responding negatively to Donald Trump’s overnight “State of The War” address, which contained nothing new really and reiterated that the US would hit Iran “extremely hard” over the next two to three weeks. Oil prices are moving back up again – Brent crude is at around $108 this morning – bond yields are […]

Dollar on the back foot

Optimism that an end to the conflict in the Middle East may be in sight, following comments by Iran’s President that his country “has the necessary will to end this war”, triggered a decline in oil prices and a strong rally in US stocks into the New York close. Asian equities are also sharply higher […]

Some respite for bond markets

There was some respite for bond markets yesterday, with US Treasuries leading a decline in yields as the market priced back in some (small) chance of a Fed rate cut this year. The dollar generally remained on the front foot though, notwithstanding lower US yields, gaining ground against the euro and sterling. EURUSD is trading […]

Oil prices higher again

Oil prices are heading further north at the start of play this week. Brent crude has risen to over $115 per barrel, not far off its high in the conflict to date of almost $120. Asian equity markets are a good deal lower overnight (Japan’s Nikkei is off more than 3%), after US stocks closed […]

Bonds and stocks slide

Markets took their cue from higher oil prices with bond yields rising sharply and stocks selling off sharply during yesterday’s session. Perhaps with an eye on markets, Donald Trump has announced a ten-day extension to his ‘freeze’ on striking Iran’s power plants, saying talks with the country were going ‘very well’. Notably though, this has […]

Oil prices moving up again

It was a positive day in markets yesterday, with stocks higher and bond yields lower, amid some optimism regarding the chances of a ceasefire in the Middle East and a balanced assessment of the outlook for interest rates by ECB President, Christine Lagarde. However, doubts are emerging about the status of any talks between the […]