Acreage Finance

06/07/2026

Sterling traded nearly flat on Monday while the euro fell more sharply, as investors positioned for what analysts expect will be a hawkish set of Federal Reserve minutes due Wednesday, the first to be released under Chair Kevin Warsh’s leadership.

As of 08:25 ET (12:25 GMT), GBP/USD dipped 0.03% to 1.3348, while EUR/USD fell 0.17% to 1.1417.

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The dollar is drawing quiet support from the rate outlook rather than any single catalyst.

Last week’s soft June non-farm payrolls failed to inflict lasting damage on the greenback, with money markets now pricing roughly 31 basis points of Federal Reserve tightening this year, down from a peak of 43bp late last month but still consistent with a bias toward higher rates.

"Short dollar positions need to be backed up by a strong story, which is simply not there at the moment," said Chris Turner, global head of markets at ING.

The Fed, he added, "is committed to restoring price stability after missing its target five years in a row, and some (or many) members could see the Fed’s next move as a rate hike."

Wednesday’s FOMC minutes are the key event risk this week, with markets and analysts expecting a hawkish tone.

Turner noted the Fed is committed to restoring price stability after missing its 2% target for five consecutive years, and said some, or many, members could view the next move as a rate hike.

06/07/2026

06/07/2026

S&P 500 and Nasdaq open higher following solid weekly gains
U.S. stocks opened mostly higher on Monday, as investors returned after a long holiday weekend.

At 09:31 ET (13:31 GMT), the benchmark S&P 500 index was up 0.5% to 7,519.06 points, while the tech-heavy NASDAQ Composite added 0.9% to 26,042.42 points. The blue-chip Dow Jones Industrial Average slipped 0.1% to 52,828.45 points.

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The major indexes ended the last, holiday-shortened week in the green. The Dow added almost 2% last week, while the S&P and Nasdaq climbed by 1.8% and 2.1%, respectively.

A weaker-than-expected June U.S. jobs report released eased concerns about near-term monetary tightening, helping fuel the rally in equities.

The uptick came even as questions swirled around lofty valuations in artificial intelligence-exposed stocks. Capital expenditures on the infrastructure needed to power the nascent technology have soared, raising doubts over when, if ever, the spending will translate into returns.

Semiconductor stocks, in particular, have been dented against this backdrop. Over the last two weeks, the Philadelphia Semiconductor Index -- a key tracker of the chipmaking sector -- has shed 12%, although it is still higher year-to-date.

Meanwhile, minutes from the Federal Reserve’s June meeting are due on Wednesday. The release could offer further insight into the central bank’s interest rate path. Borrowing costs were left on hold at a range of 3.5% to 3.75% at the gathering, although official projections hinted at a possible rate hike this year.

22/06/2026

European stocks inch up in caution after first round of U.S.-Iran talks
European shares edged higher on Monday as investors weighed signals from U.S.-Iran peace talks against political uncertainty in Britain following reports that Prime Minister Keir Starmer could resign.

The pan-European STOXX 600 index opened 0.1% higher while Germany’s DAX was largely unchanged. France’s CAC 40 was up 0.1% and Italy’s FTSE MIB edged 0.1% lower. .

In London, the FTSE 100 held steady as markets awaited an official statement from Downing Street. The muted trading followed media reports that Starmer was poised to step down after a parliamentary election victory by his internal rival, Andy Burnham.

Investors also have their focus to the European Central Bank. Speeches scheduled later in the day by President Christine Lagarde and Chief Economist Philip Lane are expected to offer a crucial pulse check on the bank’s monetary trajectory.

Traders are eager to see how policymakers intend to balance lingering inflationary pressures following a recent war-induced rate hike, especially now that hostilities in the Middle East have shown signs of easing.

That easing, however, looks increasingly complicated. European equities scaled record heights last week after Washington and Tehran signed a landmark peace deal that reopened the Strait of Hormuz - a vital energy transit duct that keeps Europe powered.

But clarity has quickly devolved into confusion. While Tehran now claims the Strait is closed once again, maritime tracking reports suggest shipping traffic is still moving through, leaving a market already reeling from a volatile Sunday.

19/06/2026

19/06/2026

Sterling today: Pound steadies near two-month low as political risks mount
Sterling erased earlier losses to trade just above $1.32 on Friday, staying near a two-month low and on track for a weekly decline of more than 1%, as political uncertainty offset a stronger-than-expected UK retail sales report.

As of 08:10 ET (12:10 GMT), GBP/USD traded 0.22% higher at 1.3234, while EUR/USD hovered was up 0.10% at 1.1467.

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UK retail sales volumes rose 1.2% month-on-month in May, more than double the 0.5% increase economists had forecast. On an annual basis, sales climbed 3.2%, well above the 1.9% pace expected.

The three months to May showed sales up 0.4% versus the three months to February, with non-food stores driving the gain, department stores benefited from favourable weather, while computer and telecoms retailers extended a growth run that began with product launches in March.

The increase followed a 1% decline in April, itself revised up from an initially reported 1.3% fall, while March’s rise was also revised higher, to 0.7% from 0.6%. Retailers pointed to promotional activity and hot weather as the drivers behind May’s pickup.

Domestic political focus intensified after Greater Manchester Mayor Andy Burnham won the Makerfield by-election with 54.8% of the vote, beating the Reform UK candidate on 34.5% and strengthening his position as a potential challenger to Prime Minister Keir Starmer.

Burnham, who has signalled he could use the seat to mount a leadership bid, called the result a "turning point" for Labour, while culture minister and Burnham ally Lisa Nandy said she expected the two men to speak soon.