CAD steady ahead of BoC decision and Macklem remarks – Scotiabank
The Canadian Dollar (CAD) is little changed. The Bank of Canada (BoC) policy decision is a statement only affair today at 9.45ET, with Gov. Macklem speaking 45 minutes later to finesse messaging, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report.
United States Employment Cost Index below expectations (0.9%) in 3Q: Actual (0.8%)
United States Employment Cost Index below expectations (0.9%) in 3Q: Actual (0.8%)
USD/CHF extends losses with traders awaiting Fed cut and Powell guidance
The Swiss Franc (CHF) trades slightly firmer against the US Dollar (USD) on Wednesday, with USD/CHF extending losses for a second consecutive day as the Greenback stays on the back foot ahead of the Federal Reserve’s (Fed) interest rate decision at 19:00 GMT.
Fed’s Powell: Labour market has significant downside risks
At the usual post-meeting press conference, Fed Chair Jerome Powell explained why policymakers decided to lower the Federal Funds Target Range (FFTR) to 3.50%–3.75% after the December meeting and took questions from reporters about the move.
Fed in focus, 25bps rate cut almost fully priced in
Without a shadow of a doubt, the theme with the outmost importance for the day is the Federal Reserve’s final interest rate decision for 2025 and the ancillary data that comes alongside it. Money markets have grown increasingly confident that the central bank will have no other choice but to slash its key policy rate […]
United Kingdom 10-y Bond Auction climbed from previous 4.608% to 4.613%
United Kingdom 10-y Bond Auction climbed from previous 4.608% to 4.613%
USD/CNH: Likely to trade with a downward bias – UOB Group
US Dollar (USD) is likely to trade with a downward bias, but is unlikely to break below 7.0540. In the longer run, outlook for USD remains negative; the next level to watch is 7.0400, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
USD: FOMC expected to deliver a 25bp cut – ING
It’s FOMC day and a 25bp rate cut – which would take the target rate to 3.50-3.75% – is around 90% priced in. The big focus will be the Summary of Economic Projections (SEP), the number of dissenters against the 25bp cut, and then Chair Powell’s press conference, ING’s FX analyst Chris Turner notes.
Greece Industrial Production (YoY) declined to 6.4% in October from previous 6.8%
Greece Industrial Production (YoY) declined to 6.4% in October from previous 6.8%
EUR/USD: Advance in EUR from late last month has ended – UOB Group
Euro (EUR) is under mild downward pressure and could edge lower and test 1.1600; a clear break below this level is unlikely.
Austria Industrial Production (YoY): 3.3% (September) vs -1.7%
Austria Industrial Production (YoY): 3.3% (September) vs -1.7%
ECB’s Villeroy: Wise thing is to maintain interest rates at current level
European Central Bank (ECB) policymaker and French central bank governor, Francois Villeroy, said during European trading hours on Wednesday that the wise thing is to hold interest rates steady at their current level.
Japanese Yen bulls seem hesitant as fiscal concerns offset BoJ rate hike bets, ahead of Fed
The Japanese Yen (JPY) remains on the front foot against a broadly weaker US Dollar (USD) through the early European session on Wednesday, though it lacks bullish conviction.
RBA stands still, keeps cash rate at 3.6%
The Australian dollar found support earlier today and rose near the $0.663 area against the greenback, following the Reserve Bank of Australia’s policy decision, as the bank chose to prolong its pause at the 3.6% level. The central bank, as widely expected, opted to keep its cash rate unchanged for the third consecutive meeting, since […]
Gold Outlook: Fed Rate Cut Risk, Geopolitics & Key Levels
Gold’s price has remained relatively stable since our last update. In today’s report, we are to discuss the Fed’s interest rate decision next week, which in turn could prove to be a market mover for gold’s price, validity of the negative correlation of the USD with Gold and how various geopolitical issues are progressing. Also […]
Chinese exports reaccelerate after October’s short-lived contraction
Weak domestic demand and export overcapacity continues to be the prevalent theme at play in China, keeping market sentiment somewhat subdued, as investors need further evidence of resurgence of ailing domestic consumption, before fully committing capital into the Red Dragon. The latest trade data report for the month of November showcased the expansion of the […]
Fed’s favourite gauge of inflation gets an update
Without a shadow of a doubt, the main attraction of the day and possibly the week, is the Federal Reserve’s preferred measure of assessing inflationary pressures, the Core PCE index, for the month of September. The expected impact from President Trump’s harsh tariffs has not yet materialized, with inflationary pressures remaining somewhat stagnant round and […]
Money markets bake-in rate cut after weak jobs data
The absence of concrete labour market data from the Bureau of Labor Statistics has forced market participants to shift their attention on “second-tier” data from the private sector, in order to form an accurate enough picture and update their forecasting models. The fact that October’s Nonfarm payrolls data may never get released, since government workers […]
Productive talks held, yet peace plan remains elusive
US special envoy to Ukraine, Steve Witkoff, travelled to Russia yesterday and spoke with Russian delegation in efforts of finding a comprehensively “fair” peace deal for the war in Ukraine. Albeit the talks being described as “constructive” by both parties, no deal has yet been reached, extending therefore the conflict until a future date. The […]
Absence of NFP data forces traders to focus on JOLTS, ADP prints
Given that the Non-Farm Payrolls data for October will almost certainly, never see the light of day, market participants are being forced to look elsewhere for clues about the health of the US labour market and best calibrate their financial models accordingly. The once severely overlooked, JOLTS and ADP non-farm employment prints, have now turned […]