North American Summary and Highlights 5 Feb

February 5, 2026 9:03 PM UTC

Overview - GBP was weak after a close BoE vote for unchanged policy, but otherwise the USD saw only modest gains. 

BOE March Cut and Then More

February 5, 2026 1:25 PM UTC

·       Six members of the MPC appear worried about the disinflationary impact from a weak economy and four of whom actually voted for a 25bps cut at the February meeting.  BOE Bailey and Mann, looking at the MPC minutes, are very close to voting for a rate cut, which suggests high confidenc

Chart GBP/USD Update: Extend consolidation above 1.3623 low

February 5, 2026 1:23 AM UTC

Failure to sustain break above the 1.3700 level see prices settling back to consolidate pullback from the 1.3869 high

North American Summary and Highlights 4 Feb

February 4, 2026 8:30 PM UTC

Overview - While US data was mixed, the USD made gains. 

EZ HICP Review: Services Inflation Less Resilient as Core Hits Cycle-Low

February 4, 2026 11:19 AM UTC

Having been range bound for some 5-6 months between 2.0% and 2.2% until November but after a fall to 1.9% in December headline HICP inflation dropped to 1.7% in the flash January data, thereby matching expectations and the short-lived Sep 24 outcome.  The drop came in spite of higher food inflation

North American Summary and Highlights 3 Feb

February 3, 2026 8:48 PM UTC

Overview - On a day when equities struggled, the USD was little changed, gains in early Europe fading. 

Turkiye Inflation Review: Inflation Softened to 30.7% in January

February 3, 2026 11:12 AM UTC

Bottom line:  Turkish Statistical Institute (TUIK) announced January inflation on February 3. Turkiye’s annual inflation edged down moderately to 30.5% in January while food, housing and education prices drove the surge. Our average inflation forecast stand at 26.5% for 2026 since inflation expec

Chart GBP/USD Update: Consolidating test of 1.3650/00 support

February 3, 2026 1:21 AM UTC

Steadied at the 1.3650/00 support as prices consolidate pullback from the 1.3869 high

North American Summary and Highlights 2 Feb

February 2, 2026 8:34 PM UTC

Overview - The USD advanced both before and after a stronger ISM manufacturing index. 

EZ HICP Preview (Feb 4): Services Inflation Less Resilient as Headline to Slip Further

February 2, 2026 12:07 PM UTC

HICP inflation had been range bound for some 5-6 months between 2.0% and 2.2% with the November and October numbers in the middle of that range. And it seemingly stayed in that range falling to 2.0% in the December flash numbers, only to be revised down a further notch to 1.9% in the final HICP figu

North American Summary and Highlights 30 Jan

January 30, 2026 8:43 PM UTC

Overview - The USD advanced after Warsh was nominated for Fed Chair, with US data also supportive. 

ECB Preview: After GDP and Before Feb Meeting

January 30, 2026 10:05 AM UTC

·       Most on the ECB council appear to be comfortable with steady policy in H1 2026, after a cumulative 200bps of cuts.  This will likely be the overall message from the February 5 ECB meeting. This will paper over differences for 2027 among ECB council members. However, we agree with the

Chart GBP/USD Update: Lower in consolidation from 1.3869 high

January 30, 2026 1:29 AM UTC

Lower in range from the Tuesday's 1.3869 high as prices consolidate strong gains from the 1.3340 low of last week