Monex

USD In contrast to last week’s drama, the broad dollar has seen a relatively muted start to the week, trading rangebound on Monday. We see little reason for this dynamic to change today either. The...

Today’s jobs report should prove net neutral for the MPC when all details are considered. We think policymakers can look through a surprise drop in unemployment, keeping the Bank on track to cut...

USD The dollar starts the week in a quiet fashion after a very volatile week which saw it break out of recent ranges against its main counterparts, notably the EUR and JPY.  With a busy calendar...

USD With traders’ attention squarely focused on the US labour market, yesterday’s initial jobless claims data unsurprisingly garnered significant attention. The 233k print undershot expectations and...

USD The US dollar was fairly flat during yesterday’s trading session as the summer holiday period is in full swing. The US dollar Index (DXY), which measures the value of the dollar against six other...

USD Treasuries slid as stocks rebounded and recouped Mondays losses as EURUSD closed the day down 0.3% from Tuesdays open. Vice-president Kamala Harris and her newly announced running mate Tim Walz...

USD The broad dollar’s slide at the back end of last week continued through Monday morning and into early afternoon, propelled by yen carry trade unwinds and fears that overly tight Fed policy would...

USD After Fed Chair Powell placed the labour market in the spotlight, a series of weak leading indicators combined with last Friday’s jobs report delivered a damning verdict. All softened more than...

After Fed Chair Powell put the labour market front and centre at Wednesday’s FOMC meeting, all eyes have been on employment indicators in recent days. Those readings have proven unanimously...

USD After Fed Chair Powell put the labour market in focus on Wednesday evening, yesterday brought some unwanted developments. Initial jobless claims overshot expectations by 13k, shortly followed by...

The MPC has cut Bank Rate to 5.00% with their latest policy announcement, meeting market expectations, but frustrating our call that had looked for a first rate cut in September. Even so, today’s...

USD Last night’s Fed meeting largely met our expectations, seeing the FOMC hold rates once again while Chair Powell demurred when questioned over the prospect of a September easing. On this latter...

JPY The Japanese yen is the big story overnight, unsurprisingly given the BoJ policy decision released early this morning. As we noted in our preview of this latest decision, Japanese policymakers...

USD The greenback rallied as a risk-off tone gripped markets on Monday, with the prospect of escalating tensions across the Israel-Lebanon border seeing traders looking for the safety of the US...

USD A double header of US risk events is in store for FX markets this week, with an FOMC meeting on Wednesday, followed by Friday’s jobs report. The former should see the Fed holding rates – we think...

USD It was a surprise overshoot for US growth that was front and centre for markets on Thursday, with Q2 GDP figures showing that the economy expanded by 2.8% QoQ annualised in the second quarter....