The US dollar rebounded last week, posting strong gains over the pound and the euro. Whether it can maintain that strength is another question, although it may well benefit from changing interest rate expectations.
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A reversal for Producer Price Inflation, rising by 0.6% last month, strengthened the dollar yesterday – while weakening the stock market – in the week before an interest rate decision from the US Federal Reserve.
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It was declines almost across the board yesterday following calls for interest rate cuts from one of the European Central Bank’s interest rate setters. Final results for inflation in France and Italy today will strengthen or weaken Mr…
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Sterling weakened marginally yesterday due to rising inflation expectations in the USA hitting the stock markets. Next week is a “hang on to your hats” sort of week, with an interest rate decision from the Bank of England…
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In a quiet day for UK data, the pound held steady at close to its new normal, more than 3% stronger than last year, against the euro. However, it slipped a little against the US dollar (while remaining…
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The euro made marginal gains against the US dollar and pound yesterday following reports of softer labour conditions in the UK compared to market expectations.
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The US dollar struggled to make any traction yesterday against the pound and euro, but bullish potential remains. Investors will be listening out for retail sales data, which might influence the Federal Reserve’s next move.
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Due to a lack of market-moving economic data, the euro is at the mercy of US data today, which is due to come in from midday. Compared to this time last month, EUR/USD is over 2% higher.
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