Bank of England seen keeping rates steady at 4%
Anaemic economic growth and stagnant inflationary pressures in the UK will most likely incentivize BoE policy makers to keep policy rates intact for another meeting according to the majority of pollsters, projecting that the bank will await for additional data before unloading more easing measures. Softer data on inflation, growth and employment compared to August […]
Canary chirps in the coal mine? Fed quietly injects liquidity in banking sector
As investors get bombarded with earnings story after earnings story from top tech companies racing to get ahead in the AI race, behind the scenes and away from the spotlight, attracting virtually zero attention, the Federal Reserve quietly injected almost $30bn into the banking system, conducting its largest operation since 2020. The central bank quietly […]
Chancelor’s Reeves surprise speech
Two days ahead of the Bank of England’s rate decision, the UK’s Chancelor of Exchequer, Rachel Reeves, held an uncanny, surprise public announcement to inform British citizens about the Labour party’s fiscal plans, addressing the massive budget hole that she and her colleagues have to fill. Even though the Chancelor did not lay down concrete […]
PBOC sets USD/CNY reference rate at 7.0885 vs. 7.0867 previous
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.0885 compared to the previous day’s fix of 7.0867 and 7.1226 Reuters estimate.
NZD/USD extends the decline below 0.5700 on downbeat Chinese PMI data, Fed’s hawkish remarks
The NZD/USD pair attracts some sellers to around 0.5695 during the early Asian session on Tuesday. The New Zealand Dollar (NZD) weakens against the US Dollar (USD) as the latest data showed the Chinese manufacturing sector weakening last month.
Japan Jibun Bank Manufacturing PMI came in at 48.2, below expectations (48.3) in October
Japan Jibun Bank Manufacturing PMI came in at 48.2, below expectations (48.3) in October
Gold Price Forecast: XAU/USD holds below $4,000 as Fed’s hawkish remarks lift US Dollar
Gold price (XAU/USD) declines to around $4,000 during the early Asian session on Tuesday. The precious metal edges lower as traders dialed back bets for further Federal Reserve (Fed) rate cuts. The Fed’s Michelle Bowman is scheduled to speak later in the day.
Gold’s Weekly Update: Gold stabilises after correcting lower
Since our last report, Gold’s price tended to stabilise after correcting lower and market worries are as to where gold’s price is heading to. In the current report we are to review fundamentals which tend to tantalise the gold market at the current stage. For a rounder view we are also to provide a technical […]
Aussie traders await RBA’s next move
In tomorrow’s early Asian session, Aussie traders will fixate upon the Reserve Bank of Australia’s rate decision for their November meeting to gauge the direction of the Australian Dollar but also the Australian equity market, in the foreseeable future. Money markets project with a 95% certainty that RBA policymakers will go for a pause at […]
Amazon shares shoot up after blockbuster quarter
The world’s largest online retailer, Amazon, positively surprised Wall Street with its third quarter performance, driving its share price up by over 12% in the aftermarket hours and into uncharted all time high territory once again. Robust revenue growth across its core businesses, retail and cloud, toppled analysts’ lofty expectations and have also contributed positively […]
ECB seen standing still for the foreseeable future
Unlike the Federal Reserve yesterday, which extended its easing campaign by slashing another 25bps off its federal funds rate, the European Central Bank is widely expected to stand pat and hold rates steady for a third consecutive meeting. Fore reference, the main refinancing rate is set to remain at 2.15%, while the deposit facility rate […]
Fed to deliver policy decision without updated data
The main attraction of the week is bound to be the monetary policy decision from the Federal Reserve later on today, which will steer the direction of rates amidst a period of scarce economic data due to an ongoing US government shutdown. Policymakers have been flying blind over the past month or so, as the […]
Gold’s Weekly Update: Gold’s price stabilises for now
Gold’s price corrected considerably lower last week and seems to stabilise at the current stage. Yet fundamentals are evolving and could substantially affect gold’s price. In today’s update we are to have a look at the trade negotiations currently taking place between the US and China and the upcoming interest rate decision of the Fed. […]
Policy decisions, Mag 7 earnings and crucial econ data ahead
Given the lack of economic news releases today Monday, we decided to outline the most important and crucial events scattered across this week on the economic, policy and earnings fronts: Tuesday: We begin with the BoJ Core CPI print in the early Asian session and the CB consumer confidence indicator for the month of October […]
Focus returns on economic data after blackout period
Even though the US government shutdown is still underway, marking 22 consecutive days without the passage of legislative funding for financing the federal government, market participants rejoice as they will apprehend the first crucial piece of economic data and draw their best conclusions, as to how the Federal Reserve will proceed in its upcoming policy […]
Crude oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Friday, early in the European session. WTI trades at $61.33 per barrel, down from Thursday’s close at $61.60.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $65.04 after its previous daily close at $65.29.
United Kingdom Retail Sales ex-Fuel (MoM) declined to 0.6% in September from previous 0.8%
United Kingdom Retail Sales ex-Fuel (MoM) declined to 0.6% in September from previous 0.8%
United Kingdom Retail Sales ex-Fuel (YoY) came in at 2.3%, above expectations (0.7%) in September
United Kingdom Retail Sales ex-Fuel (YoY) came in at 2.3%, above expectations (0.7%) in September
BREAKING: UK Retail Sales rise 0.5% MoM in September vs. -0.2% expected
The United Kingdom (UK) Retail Sales climbed 0.5% month-over-month (MoM) in September after advancing 0.6% in August (revised from 0.5%), according to the latest data published by the Office for National Statistics (ONS) on Friday.
WTI (Oil) rebounds from 5-month lows after renewed US sanctions
Technical Analysis of Oil WTI Chart – Crude futures up 9% since the start of the week, seek to break the monthslong dry spell Crude futures swiftly reverse course earlier this week, bottoming out near the $56 per barrel area, gained momentum and are currently attempting to break above the $61.50 (R1) resistance ceiling and […]