Category: Daily blog

Calm start to the week

A quiet opening day to the week, a rare enough event given uncertainty over the past few months, but with little market/political news or economic data to shift currencies, the euro held its own to the dollar, remaining around $1.1420 for much of the day, only briefly dipping towards $1.14 or getting above $1.1430. The […]

US employment gains help support dollar

Solid US non-farm payrolls for May saw the dollar gain slightly on the euro on Friday, the single currency dipping just below $1.14 at the end of last week, however the dollar is losing out as markets open this week and the euro has taken back some of its losses and is back up to […]

Euro gains a little as ECB cuts again

The ECB cut rates by another 25bps yesterday taking the deposit rate to 2%. This move was fully priced in by the market so there was no great surprise. There will likely be a pause in rate cuts now, for the July meeting at least, but the market is still pricing in one further cut […]

Weak US data see dollar lose ground again

The gains for the dollar on Tuesday proved short lived, again, as the greenback failed to hold on amid some weaker US data. ISM services slipped into contractionary territory (just at 49.9) last month while ADP private employment gains were weak, up only 37k in May. The dollar lost about a 1/2 cent to the […]

Euro hits a softer patch

The dollar and equities gained and the euro fell back as data showed the US labour market is holding up while in Europe, there was political uncertainty as the short lived Dutch Government fell. The single currency was up close to $1.1450 early yesterday, but eased back to around $1.1375 now after data showed US […]

Euro firmer as dollar softens

The euro was firmer against the dollar and sterling yesterday as the US currency continues to be on the backfoot amid uncertainty about US trade policy. The greenback had popped higher against the euro midweek last week getting to under $1.1250 for a short time but it been one way traffic since then, more or […]

Dollar rally proves short lived

The gains made by the dollar overnight on Wednesday proved short lived as an appeals court upheld President Trump’s tariffs (for now) and weak US data saw the greenback lose out yesterday. The dollar had gained to under $1.1250 overnight on Wednesday after a US trade court ruled most of President Trump’s tariffs were not […]

Dollar gains as US court rules many Trump tariffs illegal

The dollar strengthened overnight after a US court ruled many of Trump’s tariffs were illegal. The US trade court ruled that the President does not have the power (under the emergency law used for so called ‘reciprocal’ tariffs) to impose tariffs. This invalidates many but not all of the recent tariffs but does not include […]

Optimism on EU-US trade talks sees dollar and equities gain

With more positive noises about the EU and US moving to negotiate a new trade agreement, the dollar took back a little ground yesterday.  The single currency had kicked off the week popping above $1.14 to the dollar, but some better US consumer confidence data and news from President Trump that the EU and US […]

Euro a touch softer this morning

With the US and UK on public holiday and little or nothing in the way of economic data, it was very quiet in financial markets yesterday. After popping higher against the dollar early on, the euro and sterling remained in tight ranges thereafter. The single currency is a touch softer this morning though following the […]