Category: Daily blog

Inflation data in the US today

Markets are looking forward to having some economic data to digest today, with flash PMIs for October due in the main economies and September CPI inflation scheduled in the US, though whether they to anything to alter the largely sideways trading in the main FX pairs recently remains to be seen. UK retail sales data […]

Euro remains on the defensive

It was quiet in FX markets yesterday with the main currency pairs confined to fairly narrow ranges. The euro remains on the defensive against the dollar though, trading down to a low of just under $1.1580 yesterday and hovering around the $1.16 level this morning. Sterling fell to a low of about $1.33 against the […]

Sterling softer after UK inflation data

It was more of the same really in FX markets yesterday with the price action limited enough once again and the dollar continuing to edge higher. UK inflation data for September released a short while ago came in softer than the market expected, hence sterling is a little weaker as a result. The pound has […]

Dollar creeping higher

While stocks chalked up solid gains again yesterday, it was relatively uneventful in bond and FX markets. The dollar continues to creep higher and has now more or less retraced all of the decline that occurred in the latter part of last week. EURUSD is trading at around $1.1630 this morning, down about a cent […]

Volatile end to the week

Markets had a volatile end to the week. Concerns related to a couple of US regional banks saw US equities fall sharply on Thursday but rebound on Friday, taking back most of the previous day’s losses. This ‘risk off’ environment on Thursday saw US bond yields fall with 10-year yields getting below 4% however, again, […]

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 […]