Category: Daily blog

Payrolls in the US today

The dollar is little changed against the euro and sterling from where it was this time yesterday morning, having attempted to retrace its post-Fed meeting dip in the intervening period, trading at around $1.0730 and $1.2540 ahead of the key US employment (payrolls) report later today. The euro-sterling cross remains tightly range-bound trading at about […]

Dollar lower post Fed

The Fed left interest rates unchanged yesterday and said monetary policy needs to remain restrictive for as long as necessary to return inflation to target, though Powell said the next move in rates is likely to be a cut. The dollar had given up some ground ahead of the meeting following softer than expected US […]

Dollar on the front foot

Markets have taken their cue from stronger than expected wage growth data in the US, pushing the dollar and bond yields higher and equities lower ahead of the Fed’s latest monetary policy announcement later this evening. The dollar has strengthened to around $1.0650 and $1.2470 vis-à-vis the euro and sterling respectively, leaving EURGBP little changed […]

Euro softer ahead of inflation, GDP data

The euro is marginally lower ahead of Euro area inflation (April) and GDP (Q1) data due later this morning, trading at about $1.07 against the dollar and at 85.3p against sterling. The pound is also a touch weaker against the US currency trading at about $1.2530. The yen, meanwhile, remains higher against the dollar just […]

Dollar takes back some ground as US inflation proves sticky

The dollar, which lost ground to the euro over the course of last week, took back some of that in trading on Friday. The dollar rebounded after US PCE data showed that US inflation remains stubbornly elevated and makes it more likely the Fed keeps interest rates ‘higher for longer’. The euro was trading just […]

Weak headline Q1 US growth sees dollar tick down

The dollar lost more ground yesterday following weaker than expected Q1 US GDP data, continuing a trend of weak US data this week. The dollar fell to around $1.0730 to the euro, and has now lost more than 1/2 cent this week against the single currency, and to $1.25 to sterling, down more than 1 […]

Dollar and Yen losing ground

There was little change in currency markets yesterday but the dollar is losing ground in early trading this morning. The US currency dipped back on Tuesday but was largely stable yesterday – on what was a relatively quiet day datawise – but in early trading today the euro has broken back through $1.07 to $1.0720 […]

Weak US PMI sees dollar decline

The dollar lost ground to both the euro and sterling, with the US currency not helped by a fall in the April US composite PMI contrasting to an improvement in the PMI in the Euro Area and the UK. The euro rose back to $1.07 while sterling increased to over $1.2450 for a time. The […]

Equities rebound at start of the week

Equities had a good start to the week, with the S&P 500 rising 0.9% for the day, breaking a run of 6 consecutive days of daily loses, and taking the index back to over 5,000. This will be a key week for earnings in the US with a number of major corporates due to report […]

Geopolitical tensions remain the focus

Heightened geo-political tensions will remain to the fore this week. The news that the US House of Representatives had finally passed a military aid bill for Ukraine will mean the continuation of that conflict and should slow recent Russian advances while there remains an increased risk of a wider Middle East War following last week’s […]