Category: Daily blog

Oil prices head north

Iran’s attack on vessels transiting the Strait of Hormuz prompted a rise in oil prices, higher bond yields, lower stocks, and some firming of the dollar. The US last night announced that it had carried out strikes on targets in Iran in response (as well as revoking a temporary waiver allowing the sale of Iranian […]

Oil prices head north

Iran’s attack on vessels transiting the Strait of Hormuz prompted a rise in oil prices, higher bond yields, lower stocks, and some firming of the dollar. The US last night announced that it had carried out strikes on targets in Iran in response (as well as revoking a temporary waiver allowing the sale of Iranian […]

Oil prices head north

Iran’s attack on vessels transiting the Strait of Hormuz prompted a rise in oil prices, higher bond yields, lower stocks, and some firming of the dollar. The US last night announced that it had carried out strikes on targets in Iran in response (as well as revoking a temporary waiver allowing the sale of Iranian […]

Pound continues to nudge higher versus euro

The euro and sterling attempted to push higher against the dollar yesterday, getting up to highs of around $1.1450 and just over $1.34 respectively, but they haven’t been able to sustain their gains, not helped by reports of Iranian attacks on tankers in the Strait of Hormuz. They are trading at around $1.1430 and $1.3380 […]

Dollar lower on the week

The euro and sterling both regained some ground against the dollar last week, having fallen in each of the two previous weeks, gaining around half a cent and one and a half cents overall respectively. They have though retreated from their very best levels of the week reached immediately following last Thursday’s softer than forecast […]

Soft US jobs report weighs on dollar

The US economy added fewer jobs than expected in June according to yesterday’s employment report, prompting an easing of Fed rate hike expectations, a decline in short-dated US bond yields, and a fall in the dollar. The euro and sterling have both gained around a half a cent relative to yesterday morning’s levels, trading at […]

Euro on the back foot

Softer than expected Euro area inflation data weighed on the euro yesterday, with the single currency falling to an intra-day low of around $1.1360 against the dollar and breaking below the £0.86 level versus sterling for the first time in just over a year. Comments by Fed Chair Warsh – that risks to US inflation […]

Quiet start to the week in markets

It was a fairly quiet start to the week in markets. Bonds mainly treaded water following a sharp fall in yields last week, while US stocks recovered some ground having been on the back foot over the past few sessions. In FX, the euro is hovering around the $1.14 level against the dollar, largely unchanged […]

Bonds rally as rate hike expectations ease

A renewed outbreak of hostilities between the US and Iran over the weekend threatened to upset markets at the start of this week but (conveniently enough) the two sides agreed to cease attacks just before Asian markets opened overnight. The dollar chalked up further gains last week albeit it did come off the boil a […]

Dollar in consolidation mode

The dollar is currently in consolidation mode following its sizeable gains over the past week or so. Yesterday’s inflation data in the US were broadly in line with expectations, prompting some further easing of Fed rate hike expectations and a further modest decline in US bond yields. Asian equity markets were on the back foot […]