Weekly Market Update
Post date: 05/09/2022 The euro seemed to be about to lock in a decent performance last week, buoyed by expectations of a hawkish ECB and a labour market report in the US that signalled to the Fed that pressures there may be easing. However, the announcement by Gazprom that it was cutting off gas supplies […]
Weekly Market Update
Post date: 30/08/2022 The world’s central bankers annual meeting at Jackson Hole delivered an unmistakably hawkish message, led by Fed´s chair Powell in a very short and clear speech. However, currency markets seem to have priced this development in, and the reaction was relatively subdued. All G10 currencies are now within 1% of […]
Weekly Market Update
Post date: 22/08/2022 US bond yields have now retraced the fall that followed the positive inflation report from the week prior. Federal Reserve officials talked up the prospects of another jumbo interest rate hike in September, and markets are now equally split between a 50-basis point and a repeat of the previous meeting 75bp […]
Weekly Market Update
Post date: 01/08/2022 The US economy now meets the barest technical definition of a recession, and Federal Reserve hikes are now fully dependent on inflation and labour data meeting to meeting. This realisation brought down yields in the US sharply and they in turn knocked down the dollar against nearly every major currency worldwide, […]
Weekly Market Update
Post date: 25/07/2022 Signs of US slowdown slam dollar, euro mixed on ECB hawkish surprise. Disappointing economic data out of the US brought yields down worldwide and removed any chance of a 100-basis point interest rate hike from the Federal Reserve this week. The surprise 50bp hike from the ECB had surprisingly little immediate […]
Weekly Market Update
Post date: 18/07/2022 The peak in US inflation has been getting pushed into the future for some time, and June was no exception. The unpleasant surprise sent the dollar soaring generally, but the euro put up a spirited defence of the psychologically important parity level and, after breaching it briefly, managed to end the […]
Weekly Market Update
Post date: 11/07/2022 Increasing concerns about the fragility of natural gas supplies to Europe, combined with good economic news from the US labor report, means that recession fears are now more sharply focused in Europe. European currencies performed badly as a consequence, with the Euro leading the way down falling over 2% against the dollar. […]
Weekly Market Update
Post date: 27/06/2022 14:38 G10 currencies ended the week not far from where they had started it, as the news calendar turned relatively light and investors digested central bank communications. The week’s winners were the Norwegian krone and the Swiss franc, the latter boosted by the aftereffects of the Swiss National Bank’s dramatic hawkish surprise […]
Weekly Market Update
Post date: 20/06/2022 14:43 Some positive data out of the US helped allay concerns about global growth last week. In addition, Federal Reserve officials continue to sound hawkish. US rates rose sharply, providing support for the US dollar and sending most major currencies down. The main exceptions were the currencies of commodity exporting countries, including […]
Weekly Market Update
Post date: 13/06/2022 11:52 Risk assets worldwide endured a very difficult week. Inflation data continues to get worse and central banks are sounding increasingly strident alarms over the need to bring it down. Interest rates blew out worldwide; interestingly, this time European rates rose further than US ones, in response to a decidedly hawkish ECB. […]