news archive

Is It Time for a USD Correction?

As those who watch the FX markets know all too well, whilst currencies have a tendency to trend, they seldom do so in a straight line. Corrections occur for many reasons. It could be that market positioning becomes so concentrated […]

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Draghi’s uncertainty weighs on the euro

The euro closed last week under heavy pressure against the dollar after ECB President, Mario Draghi, claimed that recent economic data warranted caution. According to Draghi, the committee did not discuss monetary policy during its meeting last week, but instead […]

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Sterling’s April Roller Coaster Ride

GBPUSD started the month just above 1.40, rallied up towards a two-year high just below 1.4350, before giving up all of those gains last week, to trade below the psychologically significant 1.40 level. This week we will explore the factors […]

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The storm on the horizon

At first glance, last week was another quiet five days for the currency markets. GBPUSD barely deviated from 1.40 – 1.41, EURUSD was stuck between 1.2220 and 1.2320 and USDCAD traded a tight range between 1.2750 and 1.2900. This was […]

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Q1 Review – Equity market volatility fails to infect FX markets (for now)

  The first quarter of 2018 was a shaky one for equity markets, and the start of the second quarter has been even more concerning, as highlighted in the above chart.  The S&P 500 is now down by more than […]

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UK’s MPC set to hike in May, but is the market pricing in enough?

Last week the Bank of England’s Monetary Policy Committee (MPC) left rates on hold at 0.5% as expected by the market, but the Minutes that were released showed a central bank very clearly intending to hike at the next meeting […]

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Interest rate differentials continue to widen as Fed set to hike

This week, the focus shifts to Wednesday’s FOMC rate announcement where the Fed are widely expected to raise rates by 25bps, taking the target range to 1.50 – 1.75%. The futures market is suggesting that a hike is a foregone […]

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ECB policy: Less dovish does not mean hawkish

Last week, Mario Draghi announced that the ECB would drop the commitment to increase its bond-buying programme should “the outlook become less favourable” – a pledge dating from December 2016 when the ECB first began to cut its bond-buying programme.   […]

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Cracks in the Foundation

It is said that a building is only as strong as its foundation.  If we imagine a country’s economic output as a building, the foundation it would be built upon is that country’s consumer.  Consumer spending makes up over 50% […]

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Is the panic over?

Less than three weeks ago, the VIX index (the Chicago Board Options Exchanged S&P 500 Volatility Index – also known as the Fear Index) spiked to its highest level since August 2015 amid concerns of rising bond yields and expectations […]

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