Author: Michael Crowley

Bond yields head further north

The euro is hovering just above its 2024 to date lows against the dollar this morning trading at around $1.0625. Sterling is a little stronger after slightly firmer than forecast UK inflation data for March released earlier, trading at about $1.2460 against the dollar and 85.3p vis-a-vis the single currency. US government 2-year bond yields […]

Dollar on the front foot again

The euro and sterling have resumed their descent against the dollar, with more stronger than expected US economic data, this time retail sales, supporting the latter. The single currency has fallen to a fresh 2024 low just north of $1.06, though this is still within the $1.05 to $1.10 range that has prevailed for most of […]

Euro, pound edge higher

There has been a muted market reaction to Iran’s attack on Israel over the weekend – perhaps due to attempts by the US and G7 to de-escalate the situation and indications from Israel that there won’t be an immediate retaliation – with little change in oil prices and no flight to bond markets or to […]

Euro under pressure post ECB

The euro is under pressure after the ECB left interest rates unchanged yesterday but indicated it is likely to cut them at its next meeting in June. The single currency has weakened to a new 2024 to date low of $1.0680 against the dollar and has slipped to around 85.3p against sterling. The latter has […]

US inflation data prompt big reaction

Yesterday’s stronger than expected CPI inflation report in the US – the third in a row – prompted a sizeable reaction in markets. The timing of a first Fed rate cut was pushed out further to the back end of this year, US bond yields soared, US equities sold off, and the dollar strengthened. The […]

US inflation data today

The main exchange rates are treading water ahead of key CPI inflation data in the US later today. The euro is little changed against the dollar at around $1.0850 but is a touch lower against sterling at 85.6p, while the pound is marginally firmer against the dollar trading at $1.2680 this morning. Equity markets were […]

Dollar a little softer

The main currency pairs are not much changed this morning. The euro and sterling are both a touch firmer against the dollar – trading at around $1.0860 and $1.2650 respectively – with the latter failing to benefit from the recent paring back of Fed rate cut expectations and the associated increase in US bond yields. […]

ECB meeting the focus this week

Friday’s stronger than expected jobs data in the US saw the dollar initially strengthen against the euro and sterling, however it gave up its gains again subsequently to end little changed on the day. It kicks off this week at around $1.0835 and $1.2630 respectively, with the euro-sterling cross trading at about 85.75p. The jobs […]

Weekly Round Up – 05.04.2024

This week’s highlights: EUR/$ little changed; Bond yields higher on the week; Euro area inflation down to 2.4%; US payrolls +303k in March. Read in full: Weekly Round Up 5 April 2024      

Payrolls day in the US

The euro and sterling failed to add to Wednesday’s gains against the dollar in yesterday’s session and both are a touch lower this morning ahead of the US employment report for March later today, trading at around $1.0830 and $1.2625 respectively. This in turn leaves EURGBP once again little changed trading at about 85.8p. US […]