Cromwell FX Market View

BOE Intervenes

Last week we continued to see elevated levels of volatility. GBP came under initial selling pressure early in the week but also all currencies vs the USD were weak early in the week. The USD gave back gains later in the week despite upside surprise inflationary data. By the end of the week the DXY…

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Cromwell FX Market View

All Hail the King Dollar

Last week saw levels of unprecedented volatility in the Foreign Exchange Markets. The Fed raised rates by 75bps and committed to continue the tightening cycle as it looks to control inflation. This in turn put significant pressure on risk assets. The week finished with the UK mini budget that sent GBP tumbling.   Euro moved…

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FX Market View #10

Dollar driven lower by disappointing NFP data

The relationship between the US economy and the Dollar remains disjointed since the impact of the corona virus on domestic growth. The fiscal and monetary policies which have been implemented during the past year had clearly had a positive effect on the economy. Jobs growth and industrial production data are reflected in an economy that…

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FX Market View #8

Market remains uncertain in holding Dollars

The US Dollar settled in for a challenging week, unable to build any gains or forward momentum instead consolidating lower against the majors. A similar currency market situation prevailed in the previous week, as investor lacked the belief and desire to buy Dollars on the back of a surging domestic economy. As a consequence the…

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FX Market View #7

Dollar fails to consolidate on positive data

The US data released during the last week confirmed the market expectation of a rebounding economic recovery. However, despite the data behind a surging US economy, the situation for the Dollar is less than positive. The gains that we made by the greenback earlier in the week, could not be consolidated. As a consequence, the…

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FX Market View #6

Eyes on inflation as market gauges Dollar’s path

Global economic data released in the days following the East holiday period disappointed markets, with investors returning to the US Dollar. The weekly jobless claims unexpectedly increased in the US initially pressuring the greenback lower. However, as Europe released weaker than expected industrial output data the Dollar made a comeback. US 10-Year Treasury yields tick…

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FX Market View #5

Dollar is trending higher from an elevated position

The trading week was shortened by the Easter holiday period, with most financial closing on the Friday. However the few exchanges in the Asia Pacific region that remained open did experience market advances. As for the currency markets the US Dollar produced mixed results during the week. Unexpected strengthening in US employment data would normally…

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