Weekly Market Update
Dollar sells off as Trump loyalist closes in on Fed chair Since the full flow of US economic data has not yet been restored after the shutdown, currency markets are focusing on the Federal Reserve. Highlights: US dollar grinds lower on Fed easing bets. FOMC set to slash rates by another 25bps this week. Hassett […]
Weekly Market Update
Dollar retreats on expectations of dovish Federal Reserve The dollar lost ground against every major currency last week, as word leaked that ultra-dovish Trump loyalist Kevin Hassett may be picked to replace Jerome Powell as chair of the Federal Reserve. Highlights: US dollar loses ground on dovish Fed repricing. Trump ally Hassett favourite to be […]
Weekly Market Update
Sterling awaits make-or-break Autumn Budget This week’s Autumn Budget is set to be a major risk event for sterling, as markets attempt to gauge the impact of the fiscal showpiece on the UK economy. Highlights: USD moves higher on risk off trading, equity concerns. Delayed US payrolls report beats expectations. Investors brace for tax hikes […]
Weekly Market Update
Record-breaking US government shutdown finally ends Last week’s wobbles in equity markets and tech stocks did not carry over into currency markets. Highlights: US government shutdown finally ends. September NFP report to be released on Thursday. G3 PMIs to provide clarity on state of global economy. GBP stutters after Labour income tax U-turn. Verbal intervention […]
Weekly Market Update
Bank of England’s “dovish hold” hints at December rate cut While tech stocks had their worst week since the Liberation Day sell-off in April, currency markets largely took the AI mini-crash in stride. Highlights: US government shutdown edges towards conclusion. BoE delivers a “dovish hold” ahead of UK budget. UK jobs and GDP data eyed […]
Weekly Market Update
Hawkish Federal Reserve remarks buoy US dollar The Federal Reserve’s “hawkish cut” last week seems to have taken markets by surprise. Highlights: USD gains across the board after hawkish Fed remarks. US and China strike one-year trade truce. ECB meeting a non-event. Q3 GDP surprises to upside. GBP lags again amid ongoing budget fears. BoJ […]
Weekly Market Update
Fed to slash rates again after US inflation miss The dollar managed to hold on rather well last week, considering that the only US data point of the last few weeks (the September CPI report) all but guaranteed cuts at the next two Federal Reserve meetings. Highlights: Fed set to slash rates this week, despite […]
Weekly Market Update
Safe havens shine as US government shutdown drags on The mounting risks associated with rising US-China trade tensions and the ongoing federal closure created some strange correlations in financial markets last week. Highlights: Safe-havens gain on rising US-China trade tensions. US government shutdown set to be longest on record. Euro buoyed by French budget optimism. […]
Weekly Market Update
US-China trade war flare-up caps dollar rally The dollar had its best week in months as political concerns hobbled the euro, although the renewed US-China trade war threw a spanner in the works and triggered a sharp sell off in risk assets on Friday. Highlights: Dollar rally falters as Trump threatens new China tariffs. US […]
Weekly Market Update
Dollar extends rebound to second week as US recession fears fade. Some generally strong economic data out of the US buoyed the dollar last week, while causing markets to soften bets in support of Federal Reserve rate cuts. Highlights: ➢ Solid US data buoys dollar for second week. ➢ US nonfarm payrolls report eyed on Friday. ➢ Possible […]