• Dollar still on the front foot

    The dollar has extended its gains against both the euro and the pound to trade at around $1.0975 and $1.29 respectively, its best levels against these two currencies since early October and mid-December respectively. This all means that the euro-sterling rate continues to do not an awful lot, with (broadly) 84p to 85p the range this week to date and currently at around 84.75p Stocks nudged […]

  • Dollar firmer

    The dollar is firmer against both the euro and sterling this morning, trading at $1.10 and just under $1.30 respectively (and leaving the euro-sterling rate largely unchanged at about 84.75p), reflecting relatively positive US economic data published over the past couple of days and as equity markets continue to rally. Remarkably enough perhaps, the S&P 500 in the […]

  • More refief for equity markets

    There was more respite for stocks yesterday which recovered some further ground from what was in any case a relatively modest sell-off recently on concerns about the coronavirus, though whether they are now out of the woods remains to be seen. Core bond yields nudged higher again as equities gained, with US 10-year yields closing up around 7bps at […]

  • Some respite for stocks

    There was some respite for stocks at the start of the week, with both European and US indices closing modestly higher yesterday, while bond yields in the core markets edged a little higher. Amidst this, the euro was little changed on the day against the dollar and trades this morning at around $1.1050, while the pound […]

  • Euro a touch firmer

    While equity markets remained under pressure on Friday and core bond yields continued to head south, somewhat surprisingly the euro gained ground against the dollar to close out the week trading at almost $1.11 (having started it at around $1.10). The Bank of England’s decision to keep interest rates unchanged helped sterling, which strengthened against both the single currency […]

  • Weekly Round Up 31.01.2020

    This week’s highlights: No change from the BOE; Sterling firmer; Euro Area GDP up 0.1% in Q4; Fed remains on hold again. Read in full here: Weekly Round Up 31 January 2020

  • BOE stays on hold

    In the event, yesterday’s eagerly awaited BOE monetary policy decision saw no change in UK interest rates with members voting 7-2 to stay on hold at 0.75%. The BOE put weight on the latest business and consumer surveys which point to a post-general election reduction in uncertainty and an improvement in confidence, although it did say that it would now be watching to see if this is translated into more […]

  • Bank of England in focus today

    Equity markets in Asia were under pressure overnight on the back of on-going concerns about the coronavirus, which is likely to spill over to European stocks this morning and contribute to a further decline in core bond yields (German 10-year yields are almost 10bps lower this week to date at circa -0.40%). All of this continues to support the dollar, which […]

  • Sterling slips a littie

    Sterling has drifted a little lower ahead of tomorrow’s Bank of England interest rate decision – it looks like it’s close to 50/50 regarding the chances of a rate cut – and is trading at just over 84.5p against the euro this morning and at $1.30 against the dollar. The latter continues to perform solidly and has edged up to […]

  • Equities sell off

    Both European and US stocks lost ground yesterday, the former falling by around 2.5% and the latter by circa 1.5%, as worries surrounding the coronavirus weighed on markets. The dollar continues to benefit in this environment  – it is trading at about $1.10 against the euro this morning (remember it ended 2019 at $1.12) – […]