Free Tactical

April 03, 2026

North American Summary and Highlights 3 Apr

April 3, 2026 5:29 PM UTC

Overview - The USD was lifted by a strong US non-farm payroll. Middle East worries persisted.

April 02, 2026

North American Summary and Highlights 2 Apr

April 2, 2026 7:01 PM UTC

Overview - The USD remained firmer after Trump’s Wednesday speech but edged off its highs in part due to Iranian claims that it was working with Oman to allow traffic through the Strait of Hormuz.

Asia Summary and Highlights 2 Apr

April 2, 2026 5:33 AM UTC

Nothing new from Trump's speech

April 01, 2026

North American Summary and Highlights 1 Apr

April 1, 2026 7:46 PM UTC

Overview - The USD slipped on Middle East peace hopes, but corrected late ahead of an address from Trump.

March 31, 2026

North American Summary and Highlights 31 Mar

March 31, 2026 7:42 PM UTC

Overview - The USD slipped, particularly versus EUR and JPY, on reduced fears of escalation in the Middle East conflict.

March 30, 2026

North American Summary and Highlights 30 Mar

March 30, 2026 7:29 PM UTC

Overview - Middle East worries persisted keeping the USD mostly bid, though USD/JPY saw some slippage.

March 27, 2026

North American Summary and Highlights 27 Mar

March 27, 2026 7:28 PM UTC

Overview - Middle East worries persisted with the main FX development being USD/JPY breaking above 160.

This week's five highlights

March 27, 2026 11:00 AM UTC

Iran War Scenarios Updated
Norges Bank Unsurprisingly Too Hawkish
Goodbye to the Good Old Days for UK CPI?
DXY Edging higher
USD/JPY Pressuring 159.75/90 highs

March 26, 2026

North American Summary and Highlights 26 Mar

March 26, 2026 7:51 PM UTC

Overview - The USD was modestly stronger with Middle East tensions increasing.

March 25, 2026

North American Summary and Highlights 25 Mar

March 25, 2026 7:39 PM UTC

Overview - The USD picked up with the US and Iran clearly remaining far apart regarding any potential peace deal.

March 24, 2026

North American Summary and Highlights 24 Mar

March 24, 2026 7:37 PM UTC

Overview - FX movements were modest though the USD and oil rose on a report of US troops being sent to the Gulf.

March 23, 2026

North American Summary and Highlights 23 Mar

March 23, 2026 7:52 PM UTC

Overview - The USD slipped after Trump postponed an assault on Iranian power plants, claiming progress was being made in talks with Iran, though Iran talks were taking place.

March 20, 2026

North American Summary and Highlights 20 Mar

March 20, 2026 7:36 PM UTC

Overview - Rising Middle East concerns lifted the USD and UST yields while equities fell ahead of the weekend.

This week's five highlights

March 20, 2026 11:00 AM UTC

Slate of Central banks

March 19, 2026

North American Summary and Highlights 19 Mar

March 19, 2026 7:50 PM UTC

Overview - The USD was softer despite Middle East risks which eased somewhat in late trade. GBP and a lesser extent EUR were supported by central bank meetings, though USD/JPY also fell substantially.

March 18, 2026

North American Summary and Highlights 18 Mar

March 18, 2026 7:50 PM UTC

Overview - The USD was firmer on a strong PPI, Middle East risks and post-FOMC comments from Fed’s Powell.

March 17, 2026

North American Summary and Highlights 17 Mar

March 17, 2026 7:33 PM UTC

Overview - The USD was slightly softer in subdued trading with Wednesday’s FOMC decision awaited.

March 16, 2026

North American Summary and Highlights 16 Mar

March 16, 2026 7:38 PM UTC

Overview - The USD was generally softer as oil corrected from early highs above $100.

March 13, 2026

North American Summary and Highlights 13 Mar

March 13, 2026 7:47 PM UTC

Overview - The USD was generally firm on Middle East risks. Economic data was weak in the US, UK and particularly Canada.

This week's five highlights

March 13, 2026 11:00 AM UTC

Iran War Scenarios
U.S. February Core CPI has slowed, but inflation not yet defeated
UK GDP More Gloom
DXY Fresh year highs
USD/JPY At intervention Level

March 12, 2026

North American Summary and Highlights 12 Mar

March 12, 2026 7:35 PM UTC

Overview - Comments from Iran and Trump added to Middle East worries, lifting both oil and the USD.

March 11, 2026

North American Summary and Highlights 11 Mar

March 11, 2026 7:39 PM UTC

Overview - Concerns about the Middle East conflict persist, which lifted both oil and the USD.

March 10, 2026

North American Summary and Highlights 10 Mar

March 10, 2026 7:48 PM UTC

Overview - Oil and the USD weakened through most of the session, but a late correction in oil saw the USD losses largely erased.

March 09, 2026

North American Summary and Highlights 9 Mar

March 9, 2026 8:11 PM UTC

Overview - The USD opened firmer but eventually fully erased its gains, in line with volatile moves in oil.

March 06, 2026

North American Summary and Highlights 6 Mar

March 6, 2026 8:59 PM UTC

Overview - The USD opened firmer on Middle East worries, but lost momentum after weak US employment data.

This week's five highlights

March 6, 2026 12:00 PM UTC

Markets and the Iran War
U.S. February Employment Not as strong as January
This Week's Fed Speakers
China Aims 4.5-5.0% GDP Growth
DXY Choppy in range

March 05, 2026

North American Summary and Highlights 5 Mar

March 5, 2026 8:57 PM UTC

Overview - The USD was firm on Middle East worries, but saw a late correction from its highs.

March 04, 2026

North American Summary and Highlights 4 Mar

March 4, 2026 8:49 PM UTC

Overview - The USD saw modest losses on hopes that the conflict in the Middle East could be resolved.

March 03, 2026

North American Summary and Highlights 3 Mar

March 3, 2026 8:45 PM UTC

Overview - The USD was firmer on Middle East risks but came off its highs as equities came off early lows.

March 02, 2026

North American Summary and Highlights 2 Mar

March 2, 2026 8:45 PM UTC

Overview - The USD has advanced on the escalation of conflict in the Middle East, with UST yields firmer and equities recovering well after a weak open.

February 27, 2026

North American Summary and Highlights 27 Feb

February 27, 2026 8:44 PM UTC

Overview - Despite a strong US PPI, the USD was mostly weaker, with negative risk appetite sending equities and UST yields lower.

This week's five highlights

February 27, 2026 12:00 PM UTC

U.S. and Iran
"New" Tariffs From Trump
This Week's Fed Speakers
Tokyo CPI Dips Further Below 2%
Canada Q4 GDP a modest correction

February 26, 2026

North American Summary and Highlights 26 Feb

February 26, 2026 8:49 PM UTC

Overview - The USD saw some gains, particularly versus the GBP, as equities came under pressure.

February 25, 2026

North American Summary and Highlights 25 Feb

February 25, 2026 8:43 PM UTC

Overview - USD/JPY led USD gains in Europe but the USD slipped back in North America.

February 24, 2026

North American Summary and Highlights 24 Feb

February 24, 2026 4:30 PM UTC

Overview - Japan PM Takaichi voiced concerns about further BOJ rate hikes, which prompted across the board JPY weakness and this was extended in the Americas.

February 23, 2026

North American Summary and Highlights 23 Feb

February 23, 2026 4:30 PM UTC

Overview - USD drifted marginally lower in U.S. trading, after a mild bounce in Europe.

February 20, 2026

North American Summary and Highlights 20 Feb

February 20, 2026 4:30 PM UTC

Overview - USD had a choppy upward path, as the details of the Q4 U.S. GDP were better than the headline number.

This week's five highlights

February 20, 2026 10:00 AM UTC

U.S. January Yr/yr ex food and energy CPI slowest since March 2021
FOMC Minutes Shows Splits, But Rate Cuts Should Still Arrive
RBNZ Keeping Their Cool
UK CPI Fresh and Marked Fall Resumes as Core Slips to Cycle-Low?
Washington and Delhi Recalibrate

February 19, 2026

North American Summary and Highlights 19 Feb

February 19, 2026 4:30 PM UTC

Overview - USD moved up as Fed easing thoughts were trimmed.

February 18, 2026

North American Summary and Highlights 18 Feb

February 18, 2026 4:30 PM UTC

Overview - USD drifted down and then up on Tuesday, as the market waits for the key Q4 GDP data at the end of the week.

February 17, 2026

North American Summary and Highlights 17 Feb

February 17, 2026 4:40 PM UTC

Overview - A slightly firmer USD, as equities impacted by AI concerns over profitability and disruption to existing industries.

February 13, 2026

North American Summary and Highlights 13 Feb

February 13, 2026 8:47 PM UTC

Overview - A slightly softer than expected US CPI weighed on the USD but overall moves were modest.

This week's five highlights

February 13, 2026 12:00 PM UTC

U.S. January Employment Stronger across the board, will keep Fed in no hurry to ease
This Week's Fed Speakers
BoC Minutes Show Steady policy dependent on economy evolving as expected
UK GDP Underlying Economy Fragility Does Continue
Landslide Victory for Japan LDP

February 12, 2026

North American Summary and Highlights 12 Feb

February 12, 2026 8:45 PM UTC

Overview - Weak US data contributed to risk off sentiment, leaving the USD mixed but marginally firmer overall.

Asia Summary and Highlights 12 Feb

February 12, 2026 6:21 AM UTC

Atsushi Mimura reiterates high-urgency monitoring stance
Bloomberg reports Hedge funds boost yen bets as buy Japan trade strengthens

February 11, 2026

North American Summary and Highlights 11 Feb

February 11, 2026 8:49 PM UTC

Overview - The USD struggled to sustain a bounce on a stronger than expected US employment report.

Asia Summary and Highlights 11 Feb

February 11, 2026 4:55 AM UTC

Risk upbeat

February 10, 2026

North American Summary and Highlights 10 Feb

February 10, 2026 9:00 PM UTC

Overview - The USD was little changed overall, but came under some pressure, particularly USD/JPY, after weak US data.

February 09, 2026

North American Summary and Highlights 9 Feb

February 9, 2026 8:35 PM UTC

Overview - The USD saw substantial losses across the board, with comments from Hassett raising fears of weak employment data.

February 06, 2026

North American Summary and Highlights 6 Feb

February 6, 2026 8:34 PM UTC

Overview - The USD was mostly weaker as risk appetite recovered.