The results in the German state elections caused concern in Berlin but also in Brussels. Political leaders there are looking for stability to emerge from an economic downturn. A resurgent AfD is unlikely to help with that.
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Entering the ninth month of 2024, sterling can look back on a year of strength. Despite some ups and downs, the pound is over 1% up against the euro more than 2% up against the US dollar.
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A light schedule of data meant currency markets spent more time mulling politics than economics on Monday. Mass protests in Israel prompted hopes that the conflict could soon fade, while the German far-right raised tensions in Europe.
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Sterling starts a new week, month and season in a strong position against the euro and US dollar. Against the euro it is 1.25% up on the start of the month and close to 2% up on this…
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The American economy seems to be inching closer to a Goldilocks scenario in which inflation has fallen as growth remains stable. As we’ve seen before, economic data can spin that narrative on its head very quickly indeed.
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The ECB won’t be counting its chickens yet, but recent inflation figures seem very encouraging. That’s good for the eurozone but could spell trouble for the euro if interest rates fall faster than in other nations.
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The pound can boast of multiple percentage point gains over the US dollar and the euro over the past few weeks. Some of that momentum has slipped away though, and more movements are to be expected as markets…
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Inflation reads from key economies pointed to easing price pressures across the Western world last week. For currency markets, that means focus has shifted squarely onto central banks, as the Bank of England (BoE), European Central Bank (ECB)…
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