Labour market data might work out recent sterling weakness

Labour market data might work out recent sterling weakness

GBP Sterling pared back last week’s gains significantly yesterday, and is once again threatening to reach fresh lows against the US dollar ahead of this morning’s highly significant labour market data. All indications seem to be that the UK Economy either contracted...
Dollar faces further Fed speakers this week

Dollar faces further Fed speakers this week

USD The greenback was the weakest G10 FX performer on Friday and ended the week clinging to the bottom rung of the G10 currency ladder despite solid Producer Price Index increases. If there is one person who can bear the blame for the downfall of the dollar last week,...
Barry bolsters oil markets

Barry bolsters oil markets

USD The dollar remained solidly on the back foot yesterday as markets digested Wednesday’s dovish Fed Minutes and Powell testimony. Yesterday’s key data release challenged the Fed’s assertion that there was little upside risk to inflation, as the Consumer Price Index...
Powell sets July rate cuts in stone

Powell sets July rate cuts in stone

USD The dollar weakened yesterday after Jerome Powell confirmed that the Federal Reserve would almost certainly be cutting rates in the near future. The Fed Chair gave one of the most unambiguously dovish performances from a central bank head in recent memory,...
Cracking cable ain’t a fable

Cracking cable ain’t a fable

GBP Sterling cracks a fresh 2019 low this morning as the BRC Sales Monitor for June slashes one of the final legs of support for the UK economy – consumption. The BRC measures the total value of retail products sold, which shrank by 1.6% in June, and points to a...