The Old Man’s Views

What are we going to do now?

I shed a few tears on Monday when my Queen, Elizabeth, was finally put to rest. Her burial signified an end of an era, and like any end, it means things will change.   In the UK, we can debate the Monarchy’s future; will Charles III will be a good King? How long will it…

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Cromwell FX Market View

US Inflation Spurs the USD Higher

Last week US inflation data came in higher than expected which moved USD stronger once again. With the Fed looking at the data the market is predicting where the terminal rate will be. The US Dollar would have ended higher but for Friday’s reversal. The DXY ended the week 0.6% higher at 109.64.   Euro…

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Cromwell FX Market View

Fed Keeps the Pressure on Risk

Last week the USD continued its role as the markets favourite currency as it posted another positive week. The US economy continues to show strong economic signs with the market continuing to look for further Fed tightening in the coming months.   Euro ended the week flat as despite USD strength the single currency held…

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Cromwell FX Market View

Jackson Hole; Fed Still on Track

Last week the USD consolidated its dominance as Powell speaking at the Jackson Hole symposium reiterated policy to reduce inflation and cautioned against switching to an accommodative stance too early. Risk assets fell as a result of the more hawkish stance than expected. Euro continued to trade in a lowering range during the week. The…

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The Old Man’s Views

Summertime Blues?

Your favourite Old Man is going on holiday, and as the markets decline, it sure seems like a good time to take a few weeks off. Indeed, considering the state of the economy, this might be the last one I can afford for a few years. I’ve been bearish for the best part of a…

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Cromwell FX Market View

USD The Nicest house in a bad neighbourhood

Last week the US Dollar closed significantly stronger as the previous weeks risk on rally lost its steam and yields rose once again. US Dollar surged as investors adjusted their expectations. With much more data releases before the next FOMC meeting expectations of continued rate rises once again took the fore. Both the GBP and…

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