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
FX Markets Weekly Wrap One rangebound year in currency markets gives way to another? The final week ahead of the holiday period is drawing to an end with the US dollar somewhat weaker across the board. Unlike last year, the BoJ’s final policy meeting proved a(nother) damp squib, with... 22nd December 2023 · 5 mins read
FX Markets Weekly Wrap Everyone is invited to the rally (except you, dollar) The Fed’s shift away from its “higher for longer” messaging (and European central banks attempts at maintaining a hawkish stance) pushed relative interest rate expectations against the US dollar... 15th December 2023 · 5 mins read
FX Markets Weekly Wrap Dollar bounces back ahead of key central bank week The greenback has rebounded this week on the back of another batch of robust data out of the US economy, including today’s non-farm payrolls report. That stands in sharp contrast to the continued... 8th December 2023 · 6 mins read
FX Markets Weekly Wrap Dollar remains on the backfoot ahead of non-farm payrolls The greenback’s grind lower has continued this week amid falling US Treasury yields and strong appetite for risk. While comments from numerous Fed speakers (including Chair Powell today) continued to... 1st December 2023 · 5 mins read
FX Markets Weekly Wrap Global backdrop proves “just right” for more USD weakness Currencies were no exception to the calm across markets, and the US dollar seems set the end the week a bit lower against most currencies. While “more of the same” downbeat data out of the euro-zone... 24th November 2023 · 5 mins read
FX Markets Weekly Wrap Déjà vu after all for the dollar The dollar is ending the week on the back foot, with the DXY index on track for its worst week since July, after this week’s US CPI print came in softer than expected. That has reinforced the growing... 17th November 2023 · 5 mins read
