Author: Michael Crowley

Bond yields lower as stocks fall

Concerns related to a couple of US regional banks contributed to an abrupt turnaround in US equity markets yesterday. This was accompanied by a fall in US bond yields amid a mini “flight to safety”. The latter though didn’t extend to the dollar, which lost ground across the board.  The euro has added to its […]

Firmer tone to sterling

The euro was confined to a fairly narrow range against the dollar during yesterday’s session, but it has edged a little higher overnight to trade at around $1.1650 this morning. Sterling has more than recovered from Tuesday’s post-UK labour market data slide against the US currency and is currently hovering just north of $1.34. It […]

Dollar gives up ground

A turnaround in equity markets during the course of yesterday’s session, as they erased most of their initial losses, also saw the dollar retreat from its best levels of the day. Comments from Fed Chair Jerome Powell, which left the door open to another cut in US interest rates at the end of this month, […]

Sterling under pressure this morning

US equity markets retraced a good portion of Friday’s slide yesterday, helped by a more conciliatory tone from Donald Trump towards China. The dollar has also rebounded from its (modest) fall at the end of last week, trading at around $1.1560 versus the euro this morning. Sterling is under pressure following the release of softer […]

Trump’s tariff threat roils markets

Donald Trump caused a stir in markets on Friday afternoon. His threat to slap a ‘massive’ additional 100% tariff on China from 1st November- in response to the latter’s imposition of export controls on rare earths – led to a sharp sell-off in equity markets and a fall in bond yields, while the dollar gave […]

EURUSD lower again

The euro lost more ground against the dollar yesterday, falling to lows of just under $1.1550. It is only a touch firmer this morning at about $1.1570, which leaves it down around 2 cents from last Friday’s close. The currency’s slide, which was triggered by the surprise resignation of the French PM on Monday, has […]

Dollar still on the front foot

There was a more positive mood in markets yesterday, evidenced by a rebound in equities, partly fuelled by suggestions from France’s outgoing PM that a breakthrough in the current political impasse may be found that would allow a budget for 2026 to be passed in parliament. The euro struggled to advance though, notwithstanding the more […]

Dollar on the front foot

There was a cautious enough mood in markets yesterday – as the government shutdown drags on in the US and political chaos continues in France – with equity markets retreating, bond yields edging lower, and the dollar gaining ground. The latter has advanced further overnight, strengthening against a broad range of currencies. EURUSD has fallen […]

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 […]