• 09 May @ 07:00

    The implications of events in both France, and more so Greece, are seeping through markets and have made themselves known within most asset classes. In FX, it’s created further pressure on the high-beta currencies, with AUD/USD nudging very close to parity in overnight trading. The Kiwi and Mexican peso are also notably softer. On commodities,…

  • 03 May @ 12:54

    Just as the ECB announces no change on rates, Michael Derks, Chief
    Strategist, takes a look at the extraordinarily resilient euro,
    sterling’s current safe-haven status and AUD following the weak
    services data.

  • 02 May @ 07:42

    Genuinely positive stories on the economic front are relatively rare these days, with no fewer than ten of the EU’s 27 economies in recession and Australia’s central bank forced to cut rates by 50bp yesterday in part because the non-mining economy is contracting. Thankfully, both Germany and America continue to defy the global gloom. In…

  • 24 Apr @ 10:52

    FxPro’s Chief Economist, Simon Smith, reviews the soft inflation data
    out of Australia and the chances of a substantial rate cut by the RBA
    as well as the euro’s performance in the current turbulence and
    sterling in the run-up to tomorrow’s Q1 GDP data.

  • 23 Apr @ 07:14

    During April, markets have displayed a far more cautious tone to that seen through most of the first quarter. FX markets were earlier than most to adopt this tone, with high-beta currencies turning at the start of March, much earlier than most equity markets. As we enter the last full week of April, this approach…

  • 20 Apr @ 11:01

    Michael Derks, Chief Strategist, ends the week with a look at
    sterling’s better performance on the back of positive retail sales,
    employment and house price data, the euro back in balance and Reuters
    reporting of rumours of China increasing yuan convertibility (

  • 19 Apr @ 11:02

    Sterling’s good fortune, Italian growth woes and the defensive yen are
    today’s topics with Michael Derks, Chief Strategist.

  • 19 Apr @ 07:23

    Of the major currencies it has been the proud pound that has been leading the way so far this year. Following yesterday’s less dovish MPC Minutes and the surprisingly strong employment figures, cable is back through 1.60 once more and EUR/GBP is at a 20mth low of 0.8180. Against the Japanese yen the pound has…

  • 18 Apr @ 11:26

    Michael Derks, Chief Strategist, takes a look at the performance of
    sterling after the release of the MPC’s latest minutes, the euro and
    Spanish housing data and the softening yen.

  • 03 Apr @ 10:22

    With Good news from the US, better news out of the UK, no rate cut by
    the RBA and plenty of US data to come, Michael Derks, Chief Strategist,
    sorts the wheat from the chaff

  • 03 Apr @ 10:22

    With good news from the US, better news out of the UK, no rate cut by the RBA and plenty of US data to come, Michael Derks, Chief Strategist, takes us through the issues of the day.

  • 02 Apr @ 10:36

    Michael Derks starts the week with a look at the poor PMI data out of Europe, the UK’s brighter news, Sterling’s reaction, breaking through the 1.60 level and a reminder of the US ISM data to come.

  • 28 Mar @ 14:14

    Behind the small downward revision to Q4 GDP in the UK (from -0.2% to -0.3%) is the picture of a household sector still under immense pressure from both modest income growth and rising inflation. Real disposable incomes fell 0.2%, having fallen in five of the past eight quarters. Real disposable incomes per head are now…

  • 23 Mar @ 08:53

    The US currency is only 0.5% below the opening level of the year, looking at the DXY dollar index and has been on a rising trend for most of the week. Whilst there are concerns with the turn in peripheral bond markets and the softer tone to equities this week, the FX markets have been…

  • 22 Mar @ 14:22

    Ireland has officially moved back into recession, GDP contracting 0.2% in Q4 of last year, with Q3 revised up from -1.9% to -1.1%, so despite this technicality, today’s release is not all bad news. Nevertheless, there has been a definite shift this week towards focusing on the economic risks that currently prevail in the eurozone….

  • 20 Mar @ 08:03

    The recovery in the Aussie seen over the past few sessions was brought to a halt overnight, AUD/USD stalling above the 1.06 level. The minutes of the latest RBA meeting were one factor in eliciting a more cautious approach – the door was left open to further easing should the global environment deteriorate. Also in…

  • 19 Mar @ 11:35

    Simon Smith, Chief Economist, starts the Budget week with a look at sterling’s recent run and indicator’s of the UK’s GDP performance in Q2 under the austerity regime.

  • 15 Mar @ 10:44

    The yen, sterling and Fitch’s negative outlook on the UK are today’s topics with Simon Smith, Chief Economist

  • 14 Mar @ 19:07

    Whilst the traditional risk currencies are getting a beating this month, it’s notable that sterling has been holding up well. We noted some of the better data being recorded on the domestic economy yesterday (‘Green shoots in the UK’), but this does not help explain the resilience being seen today given that the labour market…

  • 01 Mar @ 09:57

    Chief Economist, Simon Smith, discusses the volatile trading seen in
    markets at the end of February and the upcoming meeting of EU leaders.