Francesco Pesole's Comment & Analysis
A complete archive of Francesco Pesole's articles, including current analysis & comment - Page 10
US Dollar has continued to buck seasonal depreciating trends thanks to a still-high short-term swap rate. We expect a wait-and-see approach today ahead of the last key central bank events of the year...
A combination of factors are contributing to the strong dollar, and with geopolitical risks on the rise, we believe it may be risky to try and pick a bottom in EUR/USD just yet. Incidentally, PMIs...
FX markets continue to consolidate after recent volatility, but no one wants to unwind their long dollar positions. Equally, the threat of escalation in Ukraine plus more soft European PMI numbers...
The escalation in the Russia-Ukraine conflict had only a short-lived impact on FX, and safe-haven demand has rapidly faded. The balance of risks is shifting more to the upside for the US dollar, also...
Markets are consolidating after a period of heightened volatility. In focus currently is President-elect Trump’s pick for the influential post of US Treasury Secretary. Given the large US budget...
We are entering a period of calm in US macro news. This means that it’s mostly up to any positioning readjustment to keep the US dollar from rallying further. Growing focus will be on the eurozone...
The US dollar remains at risk of positioning-led corrections, but so far macro data and Fed communication have not offered any USD-negative catalyst. Yesterday, Fed Chair Powell emphasised the...
Markets were quick to buy US Dollar after a minor correction as US CPI was released yesterday. This move might reflect expectations for the coming year, as a USD-positive policy mix under Trump is...
The main event in sterling (GBP/USD) markets today is a speech by Bank of England’s Catherine Mann, the most hawkish member of the MPC. Markets will be attentive to any comments about the...
After a day dominated by the resounding success of the Republican party, FX markets today return to the more familiar territory of central bank policy meetings. These take place in the US, UK,...