Market Updates
A hawkish Fed puts the dollar back in charge
1 min readThe Fed raised rates for the first time in three years. The detail was more hawkish than the decision itself. Dollar breaks higher against sterling and euro.
Read more
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.
Dollar leads following jobs data as ECB takes centre stage
1 min readA bumper US jobs report reset the tone last week, driving a sharp dollar rally and lifting the odds of a December Fed hike from around 40% to 70%. Renewed Middle East escalation keeps oil and the dollar supported. Attention now turns to Thursday’s ECB meeting.
Middle East risk pulls GBP/USD both ways as data disappoints
1 min readConflict is keeping the majors penned into tight ranges, with safe-haven flows the clearest beneficiary. Middle East developments remain the dominant force across all three pairs this week, with risk-on/risk-off swings setting the tone.
Sterling sinks as markets price in a new political reality for UK
1 min readSterling suffered its worst weekly drop since November 2024 last week as UK leadership challenges sent the pound and Gilts sharply lower. Hotter-than-expected US inflation data and a stronger dollar, added to the pressure.
Starmer speech fails to dent markets – for now
1 min readLast week’s local election results have plunged Starmer’s leadership into question, but continuing impact on currency markets remains to be seen. Sterling is supported by a broader risk-on sentiment, while the euro is held in check by growth concerns despite a ‘live’ ECB June meeting.
Looming political risk keeps markets on edge as central banks hold
1 min readA quieter week gives way to a pivotal one, with both the BoE and ECB meeting alongside the Fed. All are expected to hold rates, the question is what will the voting pattern look like? There’s also a packed calendar of data releases to keep an eye on.
Voting pattern in focus at BoE interest rate meeting this week
1 min readA quieter week gives way to a pivotal one, with both the BoE and ECB meeting alongside the Fed. All are expected to hold rates, the question is what will the voting pattern look like? There’s also a packed calendar of data releases to keep an eye on.