US president, Joe Biden, gave a rare national address from the Oval Office yesterday, framing his decision to step down as a presidential candidate to “pass the torch” to his current vice, Kamala Harris. He also said, “I…
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The pound has continued in its now familiar holding pattern, close to a two-year high against the euro but not quite breaking above it. It has slipped further against the US dollar and is now around 1% weaker…
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The US economy is looking to better its first quarter growth of 1.4% when preliminary Q2 GDP figures are released on Thursday. Economists are predicting that number to rise to around 2%, which would present the Federal Reserve with…
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The eurozone’s preliminary consumer confidence indicator for July increased to its highest level since February 2022. While still below the ten-year average, interest rate cuts and the diminished threat of the far-right in France have buoyed the mood…
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Sterling has enjoyed some real strength recently, but its position seems once more to be under threat. The pound has underperformed a basket of currencies this week (aside from the antipodean dollars) and this morning’s services data could…
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In the absence of significant economic data, currency markets looked to smaller indexes and older reports to direct their movement. The running theme of the US election and its associated risks meanwhile continued to colour the overriding discourse.
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US markets spent the majority of yesterday reconsidering their assumption that Donald Trump would win the upcoming election. Wednesday provides a welcome reintroducing to data, before Thursday and Friday ramp things up even further.
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The European Central Bank’s (ECB) Francois Villeroy de Galhau used an interview on French radio to say market expectations of two further interest rate cuts this year were ‘reasonable’. The euro continues to struggle with the expectation that…
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