The US dollar once again proved itself the best safe haven for nervous markets. The dollar saw a massive influx of trading, a trend that could continue unless any progress is made on the shaky geopolitical situation.
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The eurozone’s government spending figures today might be the most intriguing development. Debt to GDP in 2023 is forecast to dip to 88%, having climbed to almost 91% in 2022. If that figure feels high, it’s worth remembering…
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UK retail sales flatlined in March, with increases in fuel sales offset by reductions by food businesses. In fact, if you exclude fuel UK retail sales fell by 0.3% month-on-month, well below February’s 0.3% growth outside of fuel.
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Sterling ended last week underneath a wave of negative sentiment as markets reacted with unease to events in the Middle East.
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The US dollar was once again the winner, extending its gains against the euro and pound to close to 1% on the week. Other than the aforementioned PMI there will be little to interest the markets until midweek,…
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The single currency was severely on the backfoot yesterday, as the markets perhaps began to accept that rate cuts were coming from the ECB earlier than the Fed. On Monday we’ll get a flash reading for eurozone consumer…
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Later today we’ll be hearing from more Bank of England interest rate setters. Will they follow Andrew Bailey’s line that inflation is firmly on the way down and all is not lost for rate cuts sooner rather than…
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Overnight, GBP/USD weakened to its lowest level since November 2023. Against the euro, on Wednesday sterling fell to its lowest level for more than a week, from what had been a five-week high, and has been struggling to…
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