GBP/USD is drifting today, with a very light economic calendar. There are no UK releases and the only important release out of the US was unemployment claims, which rose from 202 thousand to 229 thousand (210 exp.). Investors didn't pay much attention to the release, ahead of the US inflation report on Friday.
Headline CPI is expected to remain unchanged at 8.3%,...
The Australian dollar has reversed directions on Wednesday and is slightly lower. AUD/USD is trading at 0.7209, down 0.28% on the day.
The RBA surprised the markets with a supersize rate hike of 50bp yesterday, double what most analysts had predicted. The Australian dollar responded with a swing of close to 100 points and held onto half of those gains. However,...
It can't be often that a Prime Minister is hours away from potentially being removed by their own party and yet the currency is rallying? Of course, the UK political scene has been far from normal for a number of years now.
You could read one of a number of things into today's moves. The most important is that nothing has moved particularly far so we shouldn't...
The Australian dollar has reversed directions on Friday. AUD/USD is trading at 0.7225, down 0.55% on the day.
US nonfarm payrolls are traditionally the highlight of the week, but the Ukraine war, spiralling inflation and surging oil prices have taken up much of the market's attention. This has reduced some of the hype around recent NFP releases, but they still...
he Swiss franc is slightly higher on Thursday. USD/CHF is trading at 0.9596, down 0.39% on the day.
Those of us who think "staid and steady" when the Swiss franc comes to mind will be forgiven for not recognizing the currency lately. The Swissie took riders on a roller-coaster in the month of May, as USD/CHF rose 300 points and broke above parity for the first...
Gold fell heavily between the middle of April and May but then started to recover as interest rate expectations were pared back. How sustainable is the recovery?
It ran into trouble quite quickly around $1,870, at which point it struggled to gather any upward momentum. But after falling back towards $1,830 today, that may have changed.
A rotation off the 50%...
The Japanese yen continues to lose ground, as USD/JPY has punched above the symbolic 130 line. In the North American session, USD/JPY is trading at 130.01 up 1.02% on the day.
The US dollar is having its way with the yen this week as USD/JPY has surged 2.23%. The driver behind the yen's plunge is an upswing in US Treasury yields. The 10-year yield rose from 2.84%...
The dollar has given back a decent portion of its recent gains over the last couple of weeks and has now reached some very interesting levels.
The greenback correction has coincided with a hawkish shift from the ECB which has lifted the euro, making the impact on the EURUSD pair all the more significant.
But how much further can it run? It's now reached a...
The Canadian dollar hasn't made any spectacular daily gains since May 13th, when it shot up 1.1%. The currency has, however, made slow but steady progress against its US cousin. Earlier today, USD/CAD touched a low of 1.2731, its lowest level in three weeks.
Canada's retail sales for March helped the Canadian dollar rally on Thursday. The headline figure was...
The Australian dollar started the week with gains of close to one percent but has been mostly drifting since then. AUD/USD is trading quietly, just below the 0.71 line.
It hasn't been a very good week on the Australian release front, raising concerns that the economy may be slowing down. Manufacturing and Services PMIs both slowed in May, while Construction Work...
The New Zealand dollar is almost unchanged on Wednesday. NZD/USD posted strong gains in the Asian session but has surrendered most of those gains.
The Reserve Bank of New Zealand delivered on expectations, with a 0.50% rate hike which brings the cash rate to 2.0%, its highest level since 2016. The New Zealand dollar dipped ahead of the decision but rallied by...
The rally in USDJPY from early March to early May was huge, driven by a combination of a soaring greenback and a BoJ determined to support its yield curve control policy tool.
But the last couple of weeks have brought some relief in the pair, driven primarily by the dollar paring gains against the broader market.
And the pair may have just broken below an...
The euro has caught a strong bid against the pound in recent days on the back of some very hawkish commentary from the ECB and poor economic data in the UK.
The ECB will become the latest central bank to concede on the inflation argument and raise rates in July and September, as per President Christine Lagarde's blog, although some support an even more aggressive...
The euro surged at the start of the week after ECB President Christine Lagarde laid out a very clear path for tightening in the coming months.
This is extremely out of character for Lagarde which perhaps highlights the urgency with which the ECB is now approaching the inflation problem.
From intentional ambiguity to a very specific path - a rate hike in July...
Gold has very much fallen out of favour over the last month as it fell 10% on the back of coming within a whisker of $2,000. But has something changed?
We've seen plenty of risk aversion in the markets over the last 24 hours, with stock markets falling heavily, and rather than being particularly supportive for the dollar, it's gold that has performed well which...
The British pound has taken a tumble after April CPI jumped to 9.0% YoY, up sharply from 7.0% in March. GBP/USD has fallen 100 points today and is trading at 1.2390 in North American trade.
UK inflation continues to run at a 40- year high, and the cost of living crisis is undoubtedly keeping Finance Minister Sunak and BoE Governor Bailey awake at night. Core CPI...
The pound has come under heavy pressure recently, particularly against the dollar which has been performing well against the broader market.
While the BoE is poised to continue its run of a rate hike at every meeting, making it one of the more hawkish central banks, the moves in the pound are also a reflection of the challenges facing the UK economy, which the...
The British pound is trading quietly on Monday, as the currency markets have started the week with a whimper.
BoE Governor Bailey testified before lawmakers earlier today, and his message was a grim one. The BoE has predicted that soaring inflation could top 10%, and Bailey today admitted that "this is a bad situation to be in". Bailey said that the Ukraine war...
