Market Updates
Bond market intervention sends the dollar lower
1 min readA surprise US Treasury move to step up purchases of long-dated debt pushed bond yields and the dollar sharply lower last week, lifting both sterling and the euro. Both of those currencies experience their own lifts.
Read more
Bond market intervention sends the dollar lower
1 min readA surprise US Treasury move to step up purchases of long-dated debt pushed bond yields and the dollar sharply lower last week, lifting both sterling and the euro. Both of those currencies experience their own lifts.
Weak US retail sales knock the dollar
1 min readA surprise slump in US retail sales, the weakest since May 2025, knocked the dollar and lifted both sterling and the euro going into this week. Plenty of data releases lie ahead.
Warsh’s no-guidance stance unsettles the dollar
1 min readThe dollar sold off last week as frustration with Fed Chair Warsh’s lack of guidance drove volatility higher. Both the BoE and Fed held and the euro found extra support.
All eyes on the Fed as a surprise hike on the table
1 min readBoth the BoE and Fed meet this week and whilst holds are the base case on each side, the Fed is the one to watch. A slim chance of a hike is already priced in.
Sterling in focus as chancellor surprise shakes up summer calm
1 min readNew PM Burnham caught markets off guard this week by naming John Healey as Chancellor, prompting a gilt sell-off and thrusting sterling’s fiscal outlook back into focus.
All eyes on US inflation as big dollar test
1 min readMarkets largely shrugged off renewed Middle East tensions this week, so Tuesday’s US CPI is the first real test of whether the dollar’s pullback has legs. A soft print would suggest inflation is peaking and keep the dollar on the back foot.
Weak US jobs data shifts the tone across the majors
1 min readA sharp US jobs miss set the tone last week, with NFP at 57K against the 113K expected, softening the dollar and trimming near-term Fed hike bets. At the ECB’s annual gathering in Sintra, the central bank message was patience.
Sterling firmer as Starmer stands aside
1 min readSterling edged higher this week as Keir Starmer resigned as Prime Minister, with Andy Burnham’s path to Number 10 now confirmed. Markets have taken the transition in their stride.
US/Iran peace deal softens dollar ahead of central bank meetings
1 min readA US/Iran peace deal, due to be signed in Switzerland, has lifted risk appetite and softened the dollar to start the week. The other big levers are the central bank meetings this week.