Yesterday’s GfK consumer sentiment survey from Germany rather summed up the mood in the eurozone. Consumer confidence in Europe’s largest economy fell to its lowest level in over two years as people grew worried about stagflation. The euro…
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Sterling has fallen back against safe-haven currencies such as the US dollar this week. Much of this is the result of a pretty bleak outlook in the event of a prolonged confrontation around the strait of Hormuz, along…
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The game of he said, she said between the United States and Iran has currency markets on the back foot heading into the weekend. President Trump on Thursday claimed Iran was “begging” to make a deal that would…
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The dollar firmed up this morning after Iran’s rejection of the peace plan reminded markets that this crisis is not ending any time soon. When geopolitical uncertainty rises, money tends to flow towards the dollar, and that pattern…
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The euro dipped after this morning’s German Ifo survey showed a sharp drop in business expectations, with the energy shock hitting manufacturing and construction particularly hard. The European Central Bank has started talking about the possibility of raising…
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The pound slipped against the dollar again this morning as markets focused on the failed peace talks rather than yesterday’s inflation figures. Although headline inflation held at 3%, core inflation — which strips out food and fuel —…
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If you woke up yesterday thinking the oil crisis might be about to calm down, this morning’s news will have been a cold shower. Iran has rejected the US peace plan outright, calling it unreasonable, and oil prices…
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The past 24 hours have seen more worrying signs for the UK economy. The pound has looked like a softly deflating tyre this week against both the US dollar and the euro, with the dollar firmer across the…
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