FX Markets Weekly Wrap

Dollar soars on CPI bombshell; more to come?

The US dollar has surged in the wake of another too-hot US CPI print, a dovish ECB and disappointing credit data out of China. The DXY index is now approaching its peak of last autumn (~106 currently...

12th April 2024 · 6 mins read

FX Markets Weekly Wrap

Payrolls report points to continued near-term dollar resilience

Another robust US non-farm payrolls report has seen the dollar rebound a bit, unwinding some of its losses earlier in the week and putting the DXY index on track to end the week near its highest level...

5th April 2024 · 6 mins read

FX Markets Weekly Wrap

Currencies calm ahead of next round of key US data

The US dollar has eked out small gains against some major currencies so far this week, leaving the DXY index just below 105 at the time of writing. During an otherwise quiet week, the February PCE...

28th March 2024 · 5 mins read

FX Markets Weekly Wrap

Quasi-dovish Fed can’t keep the dollar down for long

The US dollar has bounced back from its brief drop after the FOMC’s policy announcement and Chair Powell’s press conference, and is ending the week stronger across the board. To some extent that is...

22nd March 2024 · 5 mins read

FX Markets Weekly Wrap

Inflation uncertainty could keep the dollar stronger for longer

Stronger-than-expected CPI and PPI data out of the US were the key catalysts for the greenback’s rebound this week, as investors continued to pare back their expectations for the Fed to cut its policy...

15th March 2024 · 5 mins read

FX Markets Weekly Wrap

Yen on the move as payrolls brings dollar back to square one

Today’s softish US non-farm payrolls report, combined with Fed Chair Powell’s relatively neutral testimony to Congress earlier in the week, has put an end to the dollar’s strong start to 2024, and...

8th March 2024 · 5 mins read

FX Markets Weekly Wrap

Calm in FX markets lowers the bar for further dollar strength

The dollar has remained roughly unchanged against most major currencies over the past two weeks. Given that our expectations for upcoming data releases and central bank meetings – notably, nonfarm...

1st March 2024 · 5 mins read

FX Markets Weekly Wrap

US dollar struggles amid “risk on” mood in broader markets

The tailwind of US equity outperformance appears to be fading for the greenback, as the DXY Index looks set to post its first weekly fall in 2024. A pullback after such a streak isn’t all that...

23rd February 2024 · 5 mins read

FX Markets Weekly Wrap

Diverging inflation stories prop up dollar, for now

The theme of the week has been one of diverging inflation stories which have helped boost the US dollar. These divergences came not just between economies (hot inflation data in the US and cold in the...

16th February 2024 · 5 mins read

FX Markets Weekly Wrap

Dollar inches higher even as US equities hit new milestone

While the dollar has fallen back a touch over the past couple of days, it has held on to most of its post-payrolls gains. The DXY index is now up about 3% on the year, having regained roughly half its...

9th February 2024 · 5 mins read

FX Markets Weekly Wrap

Can “King Dollar” draw investors’ gaze from “Goldilocks”?

The DXY index seems set to close this week at its strongest level in almost two months, breaking out of a narrow range amid a flurry of data releases out of the US. Consistent with Fed Chair Powell’s...

2nd February 2024 · 5 mins read

FX Markets Weekly Wrap

Dollar rally takes a breather ahead of Fed and key US data

The US dollar seems set to remain within a tight range against most major currencies this week. At face value, the stronger-than-expected GDP data out of the US might point to a return to “higher for...

26th January 2024 · 5 mins read

FX Markets Weekly Wrap

Dollar grinds higher alongside rising equities and UST yields

The US dollar’s rebound has gained momentum this week amid hawkish rhetoric from Fed officials and more evidence out of the US – notably retail sales and jobless claims – of continued resilience in...

19th January 2024 · 5 mins read

FX Markets Weekly Wrap

The stalemate in currency markets continues

After a strong start to the year, the US dollar seems set to end the week broadly unchanged against most currencies, as inflation data releases out of the US this week failed to generate much of a...

12th January 2024 · 5 mins read

FX Markets Weekly Wrap

USD strikes back as goldilocks hopes take a hit

The dollar’s strong start to 2024 has partly reversed today as the surprisingly weak US ISM non-manufacturing survey has more than offset another robust US non-farm payrolls report. Even so, the...

5th January 2024 · 5 mins read