FX Talk - an Ebury podcast

Autumn Budget fallout: What it means for sterling

04 Dec 2025

Contributed by Lukas

The heavily anticipated UK Autumn Budget has come and gone, without causing too much in the way of alarm among market participants. Sterling and gilts...

US-China trade war nears hour of reckoning

29 Oct 2025

Contributed by Lukas

The US government shutdown continues to drag on like a traffic jam in New York at rush hour, with no apparent ending in sight. Macroeconomic reports o...

Bond markets flag troubles ahead (with special guest Kallum Pickering)

15 Oct 2025

Contributed by Lukas

SPECIAL GUEST ALERT. We’re delighted to be joined on today’s episode by Peel Hunt’s Chief Economist Kallum Pickering. Kallum brings with himself...

Key data from Europe diverges

24 Sep 2025

Contributed by Lukas

Latest business activity PMIs from Europe showed a mixed picture in the Eurozone and brought fresh concerns over the health of the British economy. Do...

Trump vs. China: The fallout (with special guest Isabel Ye)

10 Sep 2025

Contributed by Lukas

SPECIAL GUEST ALERT. We’re delighted to be joined on this week’s episode by Ebury’s Director of China Initiatives, Isabel Ye Qiu. The unveiling ...

Powell drops a bombshell at Jackson Hole

27 Aug 2025

Contributed by Lukas

Federal Reserve Chair Jerome Powell struck a dovish surprise at the annual get together of central bankers in Jackson Hole, Wyoming last week. Has thi...

EU bags trade deal: A slam dunk or own goal?

30 Jul 2025

Contributed by Lukas

The EU has finally reached a trade deal with the US! But is this a bad deal for the European economy? How have markets reacted to the news? And what c...

Has the “Sell America” trade run its course?

16 Jul 2025

Contributed by Lukas

FX Talk has finally caught up with the times! After nearly five years of hiding behind microphones, honing our radio voices and bringing you audio-onl...

Middle East conflict rocks markets: Dollar tumbles as ceasefire struck

26 Jun 2025

Contributed by Lukas

Rising geopolitical tensions in the Middle East have dominated activity in currency markets in the past fortnight or so. The safe-haven dollar gained ...

US economy defying the odds, but is it recession proof?

05 Jun 2025

Contributed by Lukas

The dollar has continued to lose ground against most major and emerging market currencies in the past few weeks. A US court ruling that deemed White H...

US and China strike trade accord: what it means for markets

15 May 2025

Contributed by Lukas

US tariff headlines continue to dominate the narrative in financial markets. Fears over a US recession triggered a sharp sell-off in US equities, Trea...

The dollar’s wild ride, and is a US recession inevitable in 2025?

25 Apr 2025

Contributed by Lukas

The US dollar collapsed to its lowest level in three years this week, with investors still reeling from the unveiling of (and subsequent delay to) Pre...

US dollar tanks as Trump’s dramatic tariff U-turn stuns markets

11 Apr 2025

Contributed by Lukas

It’s been a barely believable few days in financial markets since President Trump unveiled the details of his reciprocal tariffs during his so-calle...

Germany’s fiscal bazooka: A shot in the arm for the euro?

26 Mar 2025

Contributed by Lukas

In this week’s episode of FX Talk, Matt and Roman are joined by our Sao Paulo analyst, Eduardo Moutinho, to discuss the latest headlines in the curr...

US dollar tanks: Are markets calling Trump’s tariff bluff?

06 Mar 2025

Contributed by Lukas

President Trump has followed through with plans to slap massive 25% tariffs on imports from Canada and Mexico, while also unveiling fresh 10% duties o...

What UK inflation spike means for Bank of England rates

20 Feb 2025

Contributed by Lukas

The outlook for UK interest rates has been clouded once again this week by strong data on the labour market and inflation. The main inflation rate jum...

Trump’s tariffs trigger frantic currency trading

06 Feb 2025

Contributed by Lukas

Without question, the only real talking point on investors' lips at present is the protectionist utterings emanating from the recently anointed T...

100th Episode Special: A trip down memory lane, and tips for novice investors

27 Jan 2025

Contributed by Lukas

Ton-up! FX Talk has reached a century of episodes! In this special podcast recording, we take a trip down memory lane and discuss some of the most mem...

2025 Global Market Outlook: Trumponomics 2.0 and beyond

09 Jan 2025

Contributed by Lukas

2025 looks set to be another eventful year in financial markets. Focus among market participants will be largely on news out of the incoming Trump adm...

2024 in FX: A Year in Review

20 Dec 2024

Contributed by Lukas

2024 has been another highly eventful year in financial markets. Political developments have dominated the headlines following the collapse of governm...

French political turmoil and its impact on ECB policy

06 Dec 2024

Contributed by Lukas

The main theme in currency markets since the US election has continued to be broad dollar strength. The greenback has rallied against most major and e...

Trump wins historic US election: What it means for FX

07 Nov 2024

Contributed by Lukas

Donald Trump has once again outperformed the polls and romped home to a comfortable victory in the US presidential election. Markets were bracing for ...

A US election special: How could the vote impact FX?

24 Oct 2024

Contributed by Lukas

November’s US presidential election is shaping up to be a highly important risk event for financial markets. Former president Trump has opened up a ...

How rising Middle East tensions could impact currency markets

10 Oct 2024

Contributed by Lukas

The dollar has roared higher against most currencies since our last episode amid a confluence of supportive factors. Heightened tensions in the Middle...

Fed stuns markets with bumper 50 basis point rate cut

26 Sep 2024

Contributed by Lukas

The Federal Reserve surprised markets last week, delivering a jumbo 50 basis point rate cut. Yet, the bank’s famous ‘dot plot’ of interest rate ...

Dollar struggles amid US economic slowdown fears

05 Sep 2024

Contributed by Lukas

The dollar has had a wretched summer thus far, as investors fret over the possibility of a US recession amid signs of a cooling in the country’s lab...

Bank of England cuts rates, but what does this mean for sterling?

02 Aug 2024

Contributed by Lukas

The Bank of England slashed its policy rate by 25 basis points for the first time since 2020 on Thursday in a narrow 5-4 vote. While this was not full...

What Trump assassination attempt means for US election and the dollar

18 Jul 2024

Contributed by Lukas

The last few weeks have been action packed in financial markets. Political news has been front and centre following elections in the UK and France, an...

French election uncertainty grips currency markets

19 Jun 2024

Contributed by Lukas

Activity in the FX market since our last episode has been largely dominated by political jitters, with both France and Britain to go to the polls in c...

The year of elections - What this means for the currency market

29 Apr 2024

Contributed by Lukas

2024 looks set to go down in the history books as one of the most significant years in global politics in modern times, with almost half of the world’...

The FX ramifications of a wider Middle East war

18 Apr 2024

Contributed by Lukas

The FX market has been sparked back into life in the past fortnight. A bout of strong data out of the US economy, notably the March inflation and nonf...

When will the Bank of England cut UK interest rates?

05 Apr 2024

Contributed by Lukas

March was an extraordinarily busy month in the foreign exchange market, with a host of major central bank announcements creating an interesting tradin...

Exploring the dollar's decline and busy week of central bank decisions

14 Mar 2024

Contributed by Lukas

The big talking point in the FX market in the past couple of weeks has been the sell-off in the US dollar, which has lost ground against almost every ...

US convergence with Europe raises doubts over dollar strength

29 Feb 2024

Contributed by Lukas

In this week’s episode, our analysts discuss the latest business activity PMI numbers out of the G3 economies, which seem to be pointing to a conver...

UK follows Japan into recession

16 Feb 2024

Contributed by Lukas

The UK economy crashed into a technical recession in the second half of 2023, after Britain’s GDP contracted for the second straight quarter in Q4. ...

FX 101: Jargon Busting - FX terminology made easy

07 Feb 2024

Contributed by Lukas

Our FX 101 series provides a strong foundation of knowledge and terminology to better understand the more in-depth discussions and analysis covered in...

Will the UK manage to avert a recession?

29 Jan 2024

Contributed by Lukas

In this week's episode, we delve into key economic data releases and major central bank meetings that lie ahead. Recently, the USD has demonstrat...

FX 101: FX market structure and the role of liquidity providers

16 Jan 2024

Contributed by Lukas

Our FX 101 series provides a strong foundation of knowledge and terminology to better understand the more in-depth discussions and analysis covered in...

What to expect in the FX market in 2024

08 Jan 2024

Contributed by Lukas

In this week's episode, our analysts turn their attention to the year ahead, and give their thoughts on what to expect in the FX market in the co...

Fed's bold pivot sets the stage for 2024

21 Dec 2023

Contributed by Lukas

In this episode, we delve into the aftermath of the Federal Reserve's unexpectedly dovish shift following its December policy meeting. FOMC Chair...

Falling inflation spells end to central bank rate hikes

22 Nov 2023

Contributed by Lukas

We unpack the recent inflation developments, focusing on the disappointing October US and UK CPI reports. These both fell short of market expectations...

FX 101: A brief history of currencies

17 Nov 2023

Contributed by Lukas

Our FX 101 series provides a strong foundation of knowledge and terminology to better understand the more in-depth discussions and analysis covered in...

Fed, BoE and Scandi FX with Ebury’s Head of Nordics

08 Nov 2023

Contributed by Lukas

We have a special guest in this episode of FX Talk, Ebury's Head of Nordics, Carl Lindh, as we debate the outlook for the main currencies in Scan...

Middle East tensions fuel safe-haven rush

18 Oct 2023

Contributed by Lukas

The ongoing conflict between Israel and Palestine has taken centre stage, with a focus on the recent Hamas attacks and the Israeli military's ret...

US dollar reigns supreme: Is the market getting carried away?

05 Oct 2023

Contributed by Lukas

September was a very busy month in the FX market, dominated by a host of major central bank meetings. Events kicked off with the ECB, which delivered ...

Turbulence in China: How EM currencies are feeling the heat

30 Aug 2023

Contributed by Lukas

In recent weeks, the USD has performed well largely due to safe-haven flows, which came about because of investors' concerns about economic slowd...

FX 101: Understanding Exchange Rate Regimes

22 Aug 2023

Contributed by Lukas

Our FX 101 series provides a strong foundation of knowledge and terminology to better understand the more in-depth discussions and analysis covered in...

Central banks turn dovish: Are rate hikes at an end?

08 Aug 2023

Contributed by Lukas

August is typically a quiet month in the financial markets as investors often take a break, seeking sunnier climates elsewhere. In consequence, volati...

Dollar in distress: US inflation miss shakes markets

19 Jul 2023

Contributed by Lukas

The past fortnight has been eventful with high volatility observed in both Emerging Markets (EM) and major currencies. The significant development was...

FX 101: What is GDP, and how is it calculated?

12 Jul 2023

Contributed by Lukas

Our FX 101 series provides a strong foundation of knowledge and terminology to better understand the more in-depth discussions and analysis covered in...

Major central banks vs. emerging markets: A tale of diverging policies

06 Jul 2023

Contributed by Lukas

Recording during a relatively calm period in the foreign exchange market. Most major currencies are experiencing narrow ranges, partly due to the summ...

Danger lurks in uncertain inflation outlook: How currencies navigate choppy waters

21 Jun 2023

Contributed by Lukas

In this episode, we discuss the recent volatility in financial markets due to a number of major economic data releases and central bank announcements....

How the May NFP report rocks the Fed's boat

07 Jun 2023

Contributed by Lukas

In this exhilarating episode of FX Talk, our Market Analysts dive deep into the highly anticipated Federal Reserve and European Central Bank (ECB) mee...

FX 101: Inflation explained

02 Jun 2023

Contributed by Lukas

Our FX 101 series provides a strong foundation of knowledge and terminology to better understand the more in-depth discussions and analysis covered in...

EUR/USD slides on hawkish Fed bets, weak euro area data

26 May 2023

Contributed by Lukas

We dive into the main reasons behind the recent strength of the US dollar in the global markets. The USD has been trading higher against most other G1...

The Fed's rate cut dilemma: 2023 or 2024?

12 May 2023

Contributed by Lukas

Amidst important data releases, the US NFP beat expectations, but the US CPI reported a decline in inflationary pressures. G10 currencies have seen th...

FX 101: How do central banks impact the FX market

25 Apr 2023

Contributed by Lukas

Our FX 101 series provides a strong foundation of knowledge and terminology to better understand the more in-depth discussions and analysis covered in...

China's economy bounces back. But what about its currency?

21 Apr 2023

Contributed by Lukas

Welcome to the latest episode of FX Talk, where we bring you all the latest news, headlines, and developments in the foreign exchange market. In this ...

Assessing the banking turmoil: Is the market panic an overreaction or justified?

30 Mar 2023

Contributed by Lukas

In this episode, we discuss the recent banking turmoil, specifically the failure of SVB and its impact on the market. SVB's sensitivity to intere...

Big gamble or smart move? Powell hints at 50bp hike

09 Mar 2023

Contributed by Lukas

Today's focus is on the major data that has reshaped expectations for central bank interest rates. Generally, we're observing two things: th...

The UK economy narrowly dodged a recession, but what's next?

15 Feb 2023

Contributed by Lukas

Since the last episode, the markets have experienced a relatively quiet period, with most major currencies trading within narrow ranges. There were, h...

US dollar makes a comeback after NFP smashes expectations

03 Feb 2023

Contributed by Lukas

The current trading environment is marked by volatility and choppiness, with most currencies trading within tight ranges throughout January. This can ...

How China's reopening will shake up currency markets

19 Jan 2023

Contributed by Lukas

At the moment, the key theme in currencies is an improvement in risk sentiment and an appreciation in high-risk currencies, at the expense of lower-ri...

The year ahead: what can we expect from the FX market in 2023?

04 Jan 2023

Contributed by Lukas

What can we expect this year? The narrative in 2022 was much about central bank responses to rising inflation rates. Will that remain the case this ye...

What China’s reopening could mean for currency markets

08 Dec 2022

Contributed by Lukas

China finally signs of an easing in its zero-Covid policy. It boosted the CNY and risk currencies against the USD. We see an improvement in risk senti...

Dollar collapses as US inflation slows

16 Nov 2022

Contributed by Lukas

If you’re following financial markets at the moment, there really is very little chance to catch your breath. Since our last episode, the market sen...

BoE goes big, but warns of deep recession

04 Nov 2022

Contributed by Lukas

According to the BoE, further increases in interest rates may be required to bring inflation back down to target, but the bank stated that the peak in...

Pound extends climb after budget U-turn

19 Oct 2022

Contributed by Lukas

Last time we spoke about the reaction in the pound to the budget and the potential impact of the tax cuts on the economy. Since then, we have seen one...

FX volatility spikes, what UK budget means for GBP

05 Oct 2022

Contributed by Lukas

What are the economic consequences of the mini-budget? Since the initial sell-off, the GBP has recovered in the past few sessions. What are the reason...

British pound falls to 1985 lows. Time to buy?

21 Sep 2022

Contributed by Lukas

We'd like to hear from you! Provide us with feedback so we can improve the podcast: https://linktr.ee/fxtalk  Since our last episode, the US dol...

S3E15: Dollar loses steam after EUR/USD falls below parity

20 Jul 2022

Contributed by Lukas

We’de like to hear from you! Provide us with feedback so we can improve the podcast: https://linktr.ee/fxtalk The main talking point has been the m...

S3E14: Everything you need to know about the FX Market in 2022

07 Jul 2022

Contributed by Lukas

Time flies when you’re having fun. So, this is a good chance for us to look back on the first six months of the year, and talk about our main highli...

S3E13: Swiss franc flex its muscles, again

22 Jun 2022

Contributed by Lukas

The Swiss franc was the best performing currency in the G10 last week after the SNB shocked markets by announcing a 50 basis point interest rate hike ...

S3E12: A long time coming: ECB sets stage for historic rate hike

10 Jun 2022

Contributed by Lukas

Markets will have one eye on next Wednesday's FOMC meeting. The Fed is set to raise rates by another 50 basis points next week and signal more hi...

S3E11: Don’t panic, a recession is not here yet

25 May 2022

Contributed by Lukas

On the whole, most economies rebounded well from the COVID induced slowdowns in 2021, as an easing in restrictions allowed for an unleashing in pent-u...

S3E10: How is the Federal Reserve policy affecting the foreign exchange market?

11 May 2022

Contributed by Lukas

We spoke on our last episode about the sharp sell-off witnessed in risk assets in late-April, which sent most higher risk currencies lower against the...

S3E9: Dollar is king as market fears drive volatility

28 Apr 2022

Contributed by Lukas

In FX, we’ve seen a classic period of ‘risk off’ trading. The US dollar has been by far and away the best performing currency, rallying sharply ...

S3E8: Can the euro rebound on growing ECB rate hike bets?

13 Apr 2022

Contributed by Lukas

For the most part in the last month, we’ve seen an improvement in risk sentiment - the safe-havens have generally underperformed, notably the Japane...

S3E7: Russian invasion triggers currency chaos

02 Mar 2022

Contributed by Lukas

Investors were caught wrong-footed by news of the full-scale invasion last Thursday, despite a host of warnings, with markets holding onto misplaced o...

S3E6: Is the euro safe after Lagarde's hawkish turn?

09 Feb 2022

Contributed by Lukas

Last week was a very eventful one of central bank announcements, with the Bank of England also holding its February monetary policy meeting on Thursda...

S3E5: The comeback kids of 2022: Emerging market currencies

19 Jan 2022

Contributed by Lukas

So far in 2022, we have seen a broad rebound in most of these EM currencies, many in excess of 3% in less than 3 weeks - including the Brazilian real,...

S3E4: Inflation at the wheel: the driver of currencies in 2022

05 Jan 2022

Contributed by Lukas

The main talking point in recent months has undoubtedly been the recent sharp increase in global inflation, driven largely by an unleashing of pent up...

S3E3: No Time to Die for the US dollar

24 Nov 2021

Contributed by Lukas

We’re going to start by talking about the most traded and popular currency pair in the foreign exchange market, and that is of course EUR/USD, which...

Welcome to FX Talk

16 Nov 2021

Contributed by Lukas

We’d like to hear from you! Provide us with feedback so we can improve the podcast: https://linktr.ee/fxtalk Liked this show? Please leave us a rev...

S3E2: Surprising central bank policies will shape the currency market

09 Nov 2021

Contributed by Lukas

More than half of the major G10 central banks have announced their latest policy decisions in the past couple of weeks. The Bank of Canada abruptly en...

S3E1: Bank of England steps closer to a rate hike

20 Oct 2021

Contributed by Lukas

The main talking point in financial markets continues to be the sharp increase in inflationary pressures globally. This has caused investors to both f...

S2E15: Why is the Brazilian real underperforming its emerging market peers?

06 Oct 2021

Contributed by Lukas

The Real remains one of the most volatile emerging market currencies that we cover, with levels of implied probability that exceed just about all of i...

S2E14: Calmer waters heading into a big week for the Fed and German elections

17 Sep 2021

Contributed by Lukas

Investors appear slightly torn between renewed optimism surrounding the pandemic and concerns surrounding the recent stagflation narrative, whereby ma...

S2E13: Mixed tones from the latest FOMC policy meeting & what to expect from the next two months

17 Aug 2021

Contributed by Lukas

Listen to what our analysts have to say about the latest FOMC policy meeting and what they expect from the financial markets in Augusta and early Sept...

S2E12: Emerging market currencies wobble as Delta spreads

28 Jul 2021

Contributed by Lukas

It is been a period that has been largely characterized by ‘risk off’ trading. If we look at the FX performance tracker for the past month, the th...

S2E11: How did the US nonfarm payrolls report impact the FX market?

07 Jul 2021

Contributed by Lukas

We’re going to start this episode by talking about Friday’s nonfarm payrolls report - the impact it had on the market and our general thoughts I g...

S2E10: What's next for the currency market after the Fed meeting?

23 Jun 2021

Contributed by Lukas

We had said on this podcast two weeks ago that we thought the Fed would likely take on a less dovish stance in light of rising inflation and the stron...

S2E9: The G3 central bank meetings are coming. Here’s what our analysts expect

09 Jun 2021

Contributed by Lukas

The main focus of this episode will be on the upcoming G3 central bank meetings. We’ll start by talking about Thursday’s ECB meeting. Then we&apos...

S2E8: What rising inflation means for the FX market

26 May 2021

Contributed by Lukas

In this episode we start by talking about the key theme in financial markets at the moment, and one of the main causes of concern for investors.  The...

S2E7: US payrolls report fails to help the US dollar

13 May 2021

Contributed by Lukas

This time on FXTalk our market experts discuss the underwhelming US payroll report, and how the dollar has reacted. Prior to Friday's report inve...

S2E6: An underperforming dollar and a busy couple of days for the euro

21 Apr 2021

Contributed by Lukas

In this episode, we begin by talking about the recent sell-off of the US dollar. In our second topic, we focus on a busy couple of days for the euro t...

S2E5: How vaccination rates are driving the currency market

07 Apr 2021

Contributed by Lukas

The vaccination race is still ongoing - which currencies are doing well and which are lagging behind? Listen to our analysts discuss it here on episod...

S2E4: What do the latest G3 central bank meetings mean for the FX market?

19 Mar 2021

Contributed by Lukas

It was a busy week in terms of central bank meetings. Investors awaiting the bank's macroeconomic rejections and its view on the recent increase ...

S2E3: The recent sell-off in global bond markets & the impact of Covid vaccine programmes on currencies so far

03 Mar 2021

Contributed by Lukas

On this episode of FX Talk our financial analysts discuss the recent sell-off in global bond markets and how they think the FX market is reacting, and...

S2E2: All about China - increasing importance of CNY on the FX market, China's reaction to the pandemic, expected performance of CNY in 2021

03 Feb 2021

Contributed by Lukas

On this episode, we welcomed our first special guest: Isebl Ye, Ebury's Director of China Initiatives. Our analysts and Isabel Ye discuss the CNY...