Author: Michael Crowley

Quiet enough in FX

It was quiet enough in FX yesterday, even as equity markets were under pressure and bond yields headed lower, although the yen recovered some ground amid a warning of possible intervention to support the currency. The dollar is slightly firmer overnight, as Donald Trump tells Reuters he has no plans to fire Jerome Powell (despite […]

Dollar slightly firmer

While there was some volatility immediately following the release of yesterday’s inflation data in the US, the main currency pairs are really not much changed from yesterday morning’s levels albeit with a slightly firmer tone to the dollar. EURUSD and GBPUSD are trading at about $1.1650 and $1.3450 respectively this morning (both also largely unchanged […]

Inflation data in the US today

There was very little reaction in markets to Jerome Powell’s criticism of threats to the Fed’s independence. Markets are similarly shrugging off Donald Trump’s announcement of a 25% tariff on any country ‘doing business’ with Iran (indeed this may reduce the chances of US military action), though China not surprisingly has criticised the decision. In […]

Dollar lower following Powell missive

While Friday’s jobs report in the US was something of a mixed bag – the economy added fewer jobs than expected in December but the unemployment rate edged down – the market pared back expectations for Fed rate cuts slightly following the data, helping the dollar extend its gains at the end of the week. […]

Jobs report in the US today

The euro fell to its low for the week to date against the dollar yesterday ahead of today’s jobs report in the US, trading down to circa $1.1640, which is more or less where it is stands this morning. Sterling continued to drift down against the US currency; at around $1.3420 it is now slightly […]

FX market largely treading water

It was relatively uneventful in FX markets again yesterday. There wasn’t a whole lot of movement in the main currency pairs amid a mixed bag of US economic data. The euro traded within a tight range against the dollar and is at around $1.1680 this morning. Sterling has drifted lower against the US currency, to […]

Dollar regains some ground

The main currency pairs traded in relatively narrow ranges with the dollar slightly firmer. Softer than expected German inflation data for December weighed on the euro, which is trading at around $1.1680 against the US currency this morning and so not far off Monday’s low of $1.1660. Sterling is off its best levels against the […]

Sterling on the up

Markets largely shrugged off the weekend’s developments in Venezuela. Stocks in particular chalked up solid gains notwithstanding some softer than expected US economic data. The dollar has given up yesterday morning’s gains, slipping back against the main currencies. EURUSD is  trading at around $1.1730 this morning, off lows yesterday of circa $1.1660, while GBPUSD has […]

An eventful start to 2026

Only a few days into the New Year and it’s already proving eventful. Not surprisingly perhaps, given the experience of the past year, Donald Trump is central to developments as the US takes over the ‘running’ of Venezuela. The market reaction is relatively muted so far with oil prices just a little lower and the […]

Euro a little softer

While there is a full day of trading today, markets won’t get fully back into the swing of things until next week. The euro and sterling are both a touch lower against the dollar (versus Wednesday’s close) at around $1.1715 and $1.3450 respectively, while the single currency is also a little softer against the pound […]