Michael Brown
Senior Research Strategist
Michael Brown is a seasoned, award-winning market analyst, with a record of providing pertinent commentary, analysis, and forecasting across all major asset classes, principally through a global macro focus, over a decade in the financial services industry. He frequently appears in a wide range of UK and international media, discussing major risk events, key market trends, and broader macroeconomic themes. Michael holds an Executive MBA from Cranfield University.
Most recent articles
Choppy Trade As Government Shutdown Continues
Conditions were choppy on Wednesday, amid a mixed slate of economic data, as the US government shutdown continued. Today, a relatively light docket lies in wait.
Q4 Begins As US Government Shuts Down
Markets traded in choppy fashion on Tuesday, despite better-than-expected US job openings data. Today, as Q4 gets underway, the US government shutdown begins, while manufacturing PMIs highlight the calendar.
Looking Ahead To The 2025 UK Budget
Chancellor Rachel Reeves will deliver the Budget in a little under two months’ time, with the prospect of further significant tax hikes looming large, as another fiscal ‘black hole’ needs to be plugged, with bond vigilantes waiting in the wings to pounce.
Stocks Gain And Gold Rallies As Government Shutdown Looms
Markets brought more of the same yesterday amid further gains on Wall Street, and fresh record highs for gold, while the dollar softened. Today, JOLTS job openings highlight the docket, as a US government shutdown looms.
Preview For The September 2025 US Jobs Report
The September jobs report is expected to capture most of the impact of federal government deferred resignation program departures.
Calmer Conditions Prevail Ahead Of Busy Start To Q4
Markets were relatively calm on Friday as data failed to move the needle, with stocks a touch higher, and the dollar modestly softer, into the weekend. This week, a busy docket awaits, highlighted by the latest US jobs report.
US Economy Sizzles As Sentiment Wobbles
Sentiment wobbled yesterday despite solid US data, as markets priced a more hawkish path for Fed policy. Today, US PCE & final UMich sentiment data highlight the docket.
Markets Meander Amid Dearth Of Catalysts
Markets plodded along, yesterday, amid a lack of fresh catalysts, seeing stocks soften a touch, while the dollar continued to rebound. Today, a busy economic docket awaits, though little is likely to move the needle.
Powell Proffers Nothing New As Light Docket Awaits
Fed Chair Powell delivered a repeat of last week’s press conference in remarks yesterday, though stocks rolled over a touch anyway, as markets elsewhere trod water. A light docket awaits today.
Time For The Buck To Smile Again
2025 has so far been, and likely will go down as, a dismal year for the greenback. However, the tide does appear to be turning somewhat, with that one-way bearish trade possibly having now run its course.
Risk Rally Rolls On As Greenback Rolls Over
Stocks extended gains, as gold notched another new record, yesterday, while the greenback rolled over, amid a lack of fresh catalysts. Today, ‘flash’ PMIs, and remarks from Fed Chair Powell are in focus.
Markets Cruise As Thin Docket Awaits
Markets brought ‘more of the same’ into the weekend as stocks rallied, the dollar caught a bid, and the Treasury curve steepened. This week, a much thinner and lighter economic docket awaits.
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1. Data for the Pepperstone Group, correct as at October 2025.