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Richard Driver, Currency Market Analyst, Caxton FX

Richard Driver, Currency Market Analyst, Caxton FX

Trading commentary: CaxtonFX

Richard Driver is a Currency Market Analyst at Caxton FX.

Positivity in Monday’s markets

Posted on: 21 August 2012

There was some initial positivity on Monday relating to a report that the ECB was intending to put a pre-determined cap on eurozone bond yields.

Currency markets remain in comparative slumber

Posted on: 20 August 2012

The currency markets remain in the comparative slumber that has characterised most of August. We largely expect more of the same in the week ahead.

Yesterday’s strong UK retail sales data boosted sterling

Posted on: 17 August 2012

Thursday brought some unexpectedly strong UK retail sales data, which initially boosted sterling before the euro enjoyed a decent late rally on encouraging words from Merkel.

Unemployment data defies weak growth figures

Posted on: 16 August 2012

Wednesday’s UK unemployment data defied the weak growth figures that we have been seeing by making yet more progress.

Today’s session brings the monthly UK labour market update

Posted on: 15 August 2012

Data on Tuesday revealed that UK inflation unexpectedly rose in July from 2.4% to 2.6%, which gave sterling a decent start to the session.

UK inflation figure likely to show weaker price pressures

Posted on: 14 August 2012

After a quiet start to the week, there are plenty of market-moving events scheduled for today. The monthly UK inflation figure is likely to show weaker price pressures...

Euro loses ground

Posted on: 13 August 2012

The euro lost ground last week amid a shortage of developments with regard to the ECB’s promised action, while Greece is once again hitting the headlines for the wrong reasons.

Chinese growth figures weak

Posted on: 10 August 2012

The ECB’s monthly bulletin cited downside risks to eurozone growth yesterday, while Chinese growth figures have also been alarmingly weak.

Sterling enjoyed positive response to BoE report

Posted on: 9 August 2012

Sterling enjoyed an excellent session on Wednesday thanks to a remarkably positive response to yesterday’s Bank of England Quarterly Inflation Report.

Sterling enjoys strong session

Posted on: 8 August 2012

Sterling enjoyed a very strong session on Tuesday, thanks to better than expected UK manufacturing and industrial production figures.

Euro continues on firmer footing

Posted on: 7 August 2012

The single currency continued on its firmer footing, helped by news that Angela Merkel and her government backed the ECB’s plan to resume buying peripheral debt to ease pressure in the bond markets.

Sterling suffering from last week’s disappointing UK growth figures

Posted on: 6 August 2012

Last week’s busy calendar was rounded off by the closely watched monthly US unemployment update, which came in well above expectations and gave market sentiment a considerable lift.

Euro under pressure

Posted on: 3 August 2012

After stating that he would do “all that was necessary” to preserve the euro, Draghi disappointed yesterday by doing very little, which put the euro under severe pressure.

Fed against introducing QE3

Posted on: 2 August 2012

The US Federal Reserve decided against introducing QE3 last night, though the central bank of course left the door wide open to more monetary easing down the line.

Weak session for the pound yesterday

Posted on: 1 August 2012

End of month book-squaring ensured it was a weaker session for the pound yesterday but any exchange rate moves ahead of tonight’s Fed decision and tomorrow’s ECB and BoE decisions can be seen as a mere prelude.