by Jonathan Cook | Nov 21, 2024
A handful of Federal Reserve members are delivering remarks today ahead of next week’s schedule of data. The lack of hefty US economic news this week has allowed attention to wander into geopolitics and it could take the impact of FOMC minutes or GDP – both due next...
by Jonathan Cook | Nov 21, 2024
The euro is coming under sustained pressure from major currencies but particularly the US dollar. Due to the eurozone’s grim economic and political outlook, it has been simply unable to push back on those advances this week. EUR/USD has fallen by close to 3% this...
by Jonathan Cook | Nov 21, 2024
The fact that inflation rose in October was a cause for concern for the UK but one that could benefit sterling. It wasn’t until the very last days of October that Rachel Reeves delivered the autumn budget – widely viewed as potentially inflationary due to the increase...
by Jonathan Cook | Nov 21, 2024
Sterling gained steadily over the euro on Wednesday after the Office for National Statistics (ONS) announced inflation had climbed to 2.3% in October – its highest level since April. Both the pound and the euro could not stall the US dollar’s advance, which continued...
by Charles Purdy | Nov 20, 2024
The pound recovered from the doldrums it’s been in for the past five days this morning as a sharp uptick in inflation kiboshed lingering hopes of an interest rate cut in December. Inflation in the UK returned to a six-month high of 2.3% in October. The increased...
by Jonathan Cook | Nov 20, 2024
The world’s great safe-haven currency did not benefit as it usually would from Tuesday’s bleak geopolitical developments. The US dollar has still had an immensely strong November but a reversal of that usual dynamic was an odd footnote to that story. EUR/USD: the past...
by Jonathan Cook | Nov 20, 2024
The single currency has managed to hold onto last week’s level against the pound, by and large. Its performance against the US dollar has been meeker, although the same could be said for almost every global currency. GBP/EUR: the past year 1 Min 5 Min 1 Hr 1 Day 1 Wk...
by Jonathan Cook | Nov 20, 2024
Andrew Bailey’s appearance in parliament yesterday added to the sense of anticipation ahead of next month’s monetary policy meeting. The economics might suggest a cut is imminent but the recent budget and today’s inflation report could persuade the Bank to wait...
by Jonathan Cook | Nov 20, 2024
Inflation in the UK returned to a six-month high of 2.3% in October, spurring a rally for the pound on market open this morning. Part of this bounce reflected energy regulator Ofwat’s increased price cap, which caused a significant spike to the price of gas and...
by Jonathan Cook | Nov 19, 2024
Donald Trump still has to wait two more months until he is sat in the Oval Office again. For the US dollar, there is a degree of uncertainty here as there is still much Joe Biden could achieve in the intervening period. For his part, some of Trump’s actions could...
