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The ECB already pre-committed to a 25 bps rate hike today and they will certainly deliver on that. There will be no surprises on that front and markets have already fully priced in such a move. As such, the decision in itself isn't what is going to be what traders...
That's a worrying sign as UK retail sales fell at its fastest pace since April last year. Adding to the woes is that stores are bracing themselves for worse times ahead, with many chains reportedly cutting orders placed with suppliers. Of note, the expectations for...
Yesterday, the Fed hiked by 25 bps bringing the FFR to 5.25-5.50% as widely expected. The statement was left basically unchanged. The market was more interested on the Fed Chair Powell’s press conference to see if he could offer any forward guidance. Unfortunately,...
The Fed delivered a 25 bps this week and left the door open for a September move but they were not too pushy about it. There was no explicit guidance to suggest that such a move is a given and they maintained that any move after the summer will be highly dependent on...
There were no surprises from the FOMC. As universally expected, the Fed increased the funds rate 25 bps to a 5.25% to 5.50% band. This is the highest since early 2001. Wall Street was mixed all session. The US30 was up for a 13th consecutive session, the best streak...
Yesterday, the Fed hiked interest rates by 25 bps bringing the FFR to 5.25-5.50% as widely expected. The policy statement was left basically unchanged, so the market couldn’t get any signal for the next moves. In fact, the focus was not on the decision itself, but on...
We are seeing the ranges for the day stretch out a bit, with the dollar losing further ground. EUR/USD is up 0.4% to 1.1130 while GBP/USD is up 0.3% to 1.2980 currently. USD/JPY itself continues to be volatile and swingy but is keeping just slightly lower near the...
In Europe, the IBEX is up 0.6% to its highest since February 2020 while the FTSE MIB is up 0.9% to its highest since September 2008. US futures are also seeing solid gains on the day now with S&P 500 futures inching up by 25 points, or 0.5%, currently:Tech shares...
“Firms’ net demand for loans fell strongly in the second quarter of 2023, dropping to an all-time low since the start of the survey in 2003“: this is what the ECB stated in its last quarterly survey of 158 banks just few days ago. This is a key input...
Political purgings are not uncommon in China but this definitely isn't the end of the latest saga surely. The fact that Wang Yi is called back in to reclaim his old post makes it even more peculiar. For added context, you can check out Adam's post here:MoneyMaker FX...
After a setback from the softer Australia CPI data yesterday, the aussie currency is recovering well today as it is up 0.6% against the dollar to 0.6800 currently. The rebound comes off a softer dollar but is also helped by yet another move to defend the yuan by...
Yesterday, the Fed hiked the interest rates by 25 bps as widely expected and left the policy statement basically unchanged. The market was more focused on the Fed Chair Powell’s press conference for signals on the future moves. Unfortunately, Powell didn’t offer...
Eurostoxx +0.5%Germany DAX +0.1%France CAC 40 +0.6%UK FTSE +0.1%Spain IBEX +0.5%French stocks were the laggard yesterday amid a slump in luxury stocks but are hoping to recover some poise today. Tech shares are leading the way, as seen with Nasdaq futures being up...
S&P 500, SPX, NASDAQ 100, NDX – Price Action:US indices steady after widely-expected Fed rate hike.Earnings, China stimulus, and resilient global growth are supportive.Extreme optimism, overbought conditions, overcrowded positioning, and seasonality are potential...
There is one to take note of for the day, as highlighted in bold.That being an extremely large set of expiries for EUR/USD at 1.1100-05, which is likely to act as a magnet and limit any upside price action in the session ahead before we get to the ECB policy decision...
The Fed yesterday hiked interest rates by 25 bps as expected and kept the policy statement unchanged. This outcome was already priced in, and the market was more interested on possible hints from Fed Chair Powell regarding the next policy moves. Unfortunately, Powell...
During the first semester of 2023, PayRetailers participated in significant events in the global Fintech and financial services industry, establishing new business connections that enable merchants from diverse industries to operate seamlessly and securely in Latin...
Prior -25.4; revised to -25.2German consumer morale is seen stabilising going into August, with hopes of falling inflation among households helping to brighten up income expectations. That said, the sub-indices that measure the propensity to save and buy remained...
The dollar is now on the backfoot again but it's not as bad as it looks. At least not compared to when we saw the rout two weeks ago. EUR/USD is still down 0.3% on the week and I reckon that there is scope for the euro to soften, especially if the ECB doesn't deliver...
In his words, the Fed will remain data dependent heading into September and they will be looking towards two more CPI reports as well as two more non-farm payrolls reports as a general guidance. So, when will we be getting to those key economic releases and is there...