Category: Daily blog

Central banks in focus this week

The euro and sterling lost further ground against the dollar on Friday, closing at lows for the week of circa $1.1415 and $1.3230 respectively, the latter also a new low for 2026 to date. They are both marginally firmer this morning though despite a further rise in oil prices, Brent crude now at $106 p/b […]

Brent crude tops $100 a barrel

It was a case of more of the same yesterday really. Oil prices rose further, with Brent crude topping $100 p/b as Iran insisted the Strait of Hormuz must remain “closed”, bond yields were higher, stocks were lower, while the dollar continued its appreciation on FX markets. The latter strengthened by half a percent or […]

Oil prices remain elevated

Oil prices remain elevated notwithstanding the International Energy Agency’s announcement that member countries had agreed to release a record 400m barrels of oil reserves. Brent crude rose by 5% yesterday, and is higher again this morning at over $96 per barrel, amid continuing attacks on shipping vessels in the Gulf. Concerns about the inflationary consequences […]

Slightly calmer markets

For the most part, a retreat in energy prices provided a favourable environment for markets yesterday with bond yields lower, stocks higher and the dollar a little weaker. However some renewed volatility in the oil price post the European close – after the US Energy Secretary Chris Wright erroneously stated that the US Navy had […]

Wild swings in oil prices

Oil prices are swinging wildly. After surging to almost $120 a barrel in early trading yesterday, the price of Brent crude fell back to just under $100 after the G7 indicated it was willing to release oil reserves if necessary. It fell further to its low for the day of just under $84 following remarks […]

Oil price soars above $100 p/b

While Friday’s jobs report in the US was a good deal weaker than forecast – the economy shed almost 100k jobs in February – it didn’t do much to dent the dollar. The latter closed only marginally lower on the day, while gaining ground over last week as whole as it benefited (albeit modestly enough) from […]

Bond yields head further north

A renewed rise in energy prices – oil rose to a new high for the week of over $86 p/b at one stage – contributed to a further re-pricing of central bank rate expectations, higher bond yields and a decline in equity markets.  The dollar didn’t do a whole lot though, ending largely flat on […]

Dollar heading higher again

There was some respite for equity markets yesterday, with  US and European stocks both advancing, amid steady (oil) and lower (gas) energy prices. The dollar was under a little pressure as a result, but stronger than expected US economic data helped limit any downside for the currency. Indeed, with energy prices heading higher this morning, […]

More of the same

It was another day of rising energy prices, rising bond yields and falling equity markets. Perhaps the best that can be said is that energy prices and bond yields both finished off their highs of the day while equity markets finished off their lows of the day. In FX, the euro and sterling fell further […]

Bond yields rise as energy prices surge

Concerns that rising energy prices due to conflict in the Middle East will push up inflation has led the market to pare back expectations for further Fed and Bank of England (BoE) rate cuts and to price out the already slim chances of any further policy easing by the ECB. The re-pricing of BoE rate […]