What a difference one data point makes. After the BOE policy decision earlier this month, there were still questions about rates reaching a peak of 5.00% in the months ahead. Now, that is very much a given it would seem with markets even fully pricing in an additional...
FX option expiries for 24 May 10am New York cut
There is just one to take note of for today, as highlighted in bold.That being for EUR/USD at 1.0750, which could draw price action there and also act as a bit of a sticky point if we do see a drop in the pair later in the day. The lows from last week around 1.0760...
UK inflation data continues to pile on the pressure on the BOE
Let's cut right to the chase. This is not the report that BOE governor Bailey was hoping for when he said that "inflation has turned the corner" in his remarks yesterday.Sure, headline annual inflation may have dropped but that owes much to base effects adjustment as...
Eurostoxx futures -0.8% in early European trading
German DAX futures -0.8%UK FTSE futures -0.7%The hotter and stickier UK inflation report here also isn't helping with the mood as US futures also erase its slight gains from earlier. But the drop that is set to befall European stocks is mostly to do with the selling...
UK April CPI +8.7% vs +8.2% y/y expected
Prior +10.1%CPI +1.2% vs +0.8% m/m expectedPrior +0.8%Core CPI +6.8% vs +6.2% y/y expectedPrior +6.2%Core CPI +1.3% vs +0.7% m/m expectedPrior +0.9%Boom! The headline reading may reflect a drop in annual inflation from March to April, but take a look at the core...
ECB’s Panetta says to decide in October on preparation phase for digital euro
Governing council to decide in October whether to launch preparation phase to develop and test digital euroECB would issue digital euro but would not distribute itWill continue to make banknotes available for as long as there is demand for themSo far, developed...
Trade ideas thread – European session 24 May 2023
Things are starting to get dicey now as we are seeing market moves that look like breakouts but are being questioned.EUR/USD back below 1.0800 and 100-day moving average but holding at last week's lowsUSD/JPY keeps above 138.00 but still holding below last week's...
UK inflation on the agenda today
Major currencies aren't doing a whole lot on the day after some pushing and pulling yesterday, with the dollar continuing to keep steadier mostly. The kiwi is the notable mover after the RBNZ signaled the end to its tightening cycle, and that is seeing NZD/USD drop by...
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Kiwi the laggard as RBNZ hints at end to rate hikes
In case you missed the earlier headlines, you can check out the previous session wrap by Eamonn here:That is putting a major drag on the kiwi after the RBNZ hinted at the end of its tightening cycle, reaffirming that rates have reached restrictive territory and will...
China premier Li reaffirms pragmatic cooperation with Russia in latest meeting
Pragmatic cooperation between China and Russia has shown good development trendWilling to work with Russia to promote pragmatic cooperation, take it to the next levelScale of investment between the two countries is also continuously upgradingThese are token remarks...
Federal Reserve Board Governor Christopher Waller speaks on his economic outlook today
1615 GMT/12:10 US Eastern time: Federal Reserve Board Governor Christopher Waller speaks on economic outlook at the University of California Santa Barbara conference: 2023 Santa Barbara County Economic SummitAlso from the Fed are Federal Open Market Committee (FOMC)...
Bank of England Governor Bailey speaking twice on Wednesday
Bank of England Governor Bailey spoke yesterday:He is up again today:0930 GMT/05:30 US Eastern time: Bank of England Governor Andrew Bailey gives a keynote speech at the Net Zero Delivery Summit hosted by the City of London Corporation1300 GMT/09:00 US Eastern time:...
European Central Bank President Lagarde to speak today – celebration of the ECB’s birthday
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
RBNZ Governor Orr says its been a long battle, the latest data is satisfactory
RBNZ Governor Orr press o=confernce following the rate hike earlier. Read from the bottom up for the chronology:Orr: latest data is satisfactoryits been a long battletoday was the first time the monetary policy committee went to a vote over the decisionoutlook for...
ForexLive Asia-Pacific FX news wrap: RBNZ hikes cash rate, signal the rate has peaked
The Reserve Bank of New Zealand raised its Official Cash Rate (OCR) by 25bp to 5.5% today in a split (5 to 2) decision and signalled the hiking cycle is over. The Bank noted policy would remain restrictive for some time to come and sees cuts from the back half of...
RBNZ Governor Orr Monetary policy media conference – live link
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
RBNZ minutes indicate a split decision on rate hike
Highlights from the minutes to the Reserve Bank of New Zealand meeting: Raising the OCR to 5.50% is consistent with the projectionsReached a consensus that interest rates will need to remain at a restrictive level for the foreseeable futureBy a majority of five votes...
RBNZ says that Businesses reporting lack of demand the main constraint on activity
More from the RBNZ re their rate hike today: Level of interest rates constraining spending and inflationInterest rates will need to remain at restrictive level for forseeable futureGlobal growth remains weak, inflation pressures are easingIn New Zealand inflation is...
NZD marked significantly lower following the RBNZ 25bp rate hike
Rate hike post is here:The summary of the statement of relevance for NZD pricing is that the Reserve Bank of New Zealand maintained its peak rate forecast at 5.5%, which is the rate it set today, and says this rate remains restrictive. NZD/USD marked down as it...