Yves Sanquer

Currencies: Oil-Driven Inflation

The dollar is navigating a particularly ambiguous environment, caught in a pincer movement between an oil-induced inflationary shock and the absence of a genuine flight to quality. Unlike typical periods of market stress, the greenback is not fully benefiting from its safe-haven status, suggesting that the markets are not yet pricing in a global recessionary scenario.

07 April 2026 at 10:07 pm AEST

Currencies: Markets Enter a Moment of Truth

Oil, central banks, and war: markets are no longer driven by liquidity, but rather by crude oil and geopolitics. The conflict in the Middle East and tensions surrounding the Strait of Hormuz continue to dominate the equation, relegating economic data to the sidelines.

23 March 2026 at 11:50 pm AEDT

Currencies: All Eyes on Hormuz

Military intervention against Iran continues to favor the dollar, which is enjoying another consecutive week of gains amid rising bond yields. As long as the Strait of Hormuz remains closed to maritime freight, the situation is unlikely to improve.

16 March 2026 at 09:47 pm AEDT

Currencies: At a Crossroads

The blockade of the Strait of Hormuz is beginning to have consequences that go beyond a simple spike in crude prices. Yet none of the forces involved has any interest in prolonging the military intervention longer than necessary.

10 March 2026 at 02:46 am AEDT

EURO / US DOLLAR (EUR/USD): The euro retreats sharply

03 March 2026 at 04:11 am AEDT

Currencies: A big mess

The end of February saw a real shift in tone. This is no longer just an equity consolidation fuelled by sector rotation. It is a test of the macro regime itself, caught between tariffs swinging back and forth, inflation edging up slightly and the geopolitical landscape which has been shaken by a major strike on Iran.

03 March 2026 at 01:21 am AEDT

EURO / US DOLLAR (EUR/USD): Without a pivot, no salvation

23 February 2026 at 11:58 pm AEDT

Currencies: Tariffs, Act 2

Equities are consolidating because leadership is changing. The dollar is resisting because the Fed is not pivoting (yet). The yen is hesitating because global stress is not taking hold. However, disinflation slowing and a rotation in flows point to one thing: the second leg of the cycle will be more selective, more international, and less concentrated in US mega-caps. In other words, the cycle is not reversing; it is transforming.

23 February 2026 at 09:27 pm AEDT

Currencies: Tariffs, Act II

Equity markets are consolidating as leadership shifts. The dollar is holding firm because the Fed has yet to pivot. The yen is wavering as global stress fails to take root. However, slowing disinflation and rotating capital flows signal one thing: the second half of the cycle will be more selective, more international, and less concentrated on U.S. mega-caps. In other words, the cycle is not reversing; it is transforming.

23 February 2026 at 09:17 pm AEDT

Currencies: a fragile calm

The macroeconomic releases of recent days have not upended the central scenario, but they have clarified the regime in which markets are now operating. We are neither in a euphoric acceleration nor tipping into recession. We are in a mid-cycle slowdown, with financial markets searching for balance. In this context, the FX market is becoming an early barometer of confidence.

16 February 2026 at 08:31 pm AEDT

EURO / US DOLLAR (EUR/USD): EUR/USD: Possible End to recent trend

03 February 2026 at 01:26 am AEDT

Currencies: Volatility at every level

For some, making it to the end of the month can be tough. For investors, the end of January was marked above all by heightened volatility across most asset classes: a sharp drop in precious metals, equity indices in the midst of a sector rotation and the dollar refusing to give in to panic.

03 February 2026 at 01:07 am AEDT

Currencies: Spotlight on the Japanese yen

After Donald Trump's remarks on Greenland helped equities regain altitude, investors are now focused on Japanese rates, which keep climbing even as the yen remains weak. This decoupling is unusual and needs to be watched closely.

27 January 2026 at 01:15 am AEDT

EURO / US DOLLAR (EUR/USD): Caught in a Crossfire

21 January 2026 at 08:03 pm AEDT

Currencies: The dollar caught between two fires

The latest US data still paints a positive macroeconomic backdrop: solid growth supported by rising productivity, the return of disinflation and an accommodative monetary stance. The main risk is not a recession, but rather a correction linked to the political volatility of a midterm-election year.

19 January 2026 at 08:33 pm AEDT

Currencies : Employment fails to shift the narrative

Investors had been waiting eagerly, although the jobs report has ultimately done little to alter the current momentum.

13 January 2026 at 01:40 am AEDT

Currencies: Don't panic

With 2025 barely over, 2026 is getting off to a flying start as the US takes control of Venezuela. This new world order does not appear to shock the financial markets in any particular way, however, as they took the news in their stride.

07 January 2026 at 07:53 pm AEDT

Currencies: That's Life

The two main events of last week were the jobs report, followed by US inflation data. While the former triggered some profit-taking, the latter was welcomed by investors. Let's take a quick look at the details.

23 December 2025 at 01:55 am AEDT

Currencies: Political Dissent

At first glance, the US Federal Reserve did the job expected of it, but a closer reading still reveals real dissension within the institution that cannot be kept quiet.

19 December 2025 at 08:35 pm AEDT

Currencies: all eyes on the Fed

Global markets are looking at a key week with the Federal Reserve meeting that will publish its conclusions on Wednesday. Several markets stand at pivotal points that will be useful to juxtapose to gain a clear view for the coming weeks.

09 December 2025 at 02:04 am AEDT

Currencies: How do you like them?

Although last week was somewhat shortened by Thanksgiving in the United States, currency traders still had a few statistics to sink their teeth into, on top of the turkey, of course.

02 December 2025 at 06:39 pm AEDT