There is a lot of news to digest. The Swiss National Bank surprised the markets with a interest-rate cut, leading the way on the cut side for the major currencies (the Bank of Japan raised rates earlier this week). The Federal Reserve kept the rates unchanged...
Philly Fed March business index +3.2 vs -2.3 expected
Philly Fed business indexPrior was +5.2Employment: -9.6 vs -10.3 priorNew orders: +5.4 vs -5.2 priorPrices paid: +3.7 vs +16.6 priorPrices received: +4.6 vs +6.2 priorShipments: +11.4 vs +10.7 priorUnfilled orders: +1.0 vs -11.7 priorDelivery times: -16.7 vs -21.1...
US Q4 current account deficit -194.8B vs -209.0B estimate
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Canada February new housing price index +0.1% m/m vs -0.1% prior
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US initial jobless claims 210K vs 215K estimate
Initial jobless claims for the current weekPrior 209K revised to 212K.Initial jobless claims 210K vs 208K estimate.4-week moving average of initial claims 211.25K vs 208.75Klast weekContinuing claims prior week 1.8111M revised to 1.803M.Continuing claims current week...
ForexLive European FX news wrap: Swiss franc falls as SNB surprises with rate cut
SNB:Headlines:Markets:AUD leads, CHF lags on the dayEuropean equities higher; S&P 500 futures up 0.4%US 10-year yields down 3.8 bps to 4.233%Gold up 0.9% to $22,06.43WTI crude down 0.3% to $80.50Bitcoin up 0.1% at $67,170As the window of opportunity is opening up...
German economy likely in recession in Q1 2024 – Bundesbank
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Web3 Base Layer – Mystiko.Network Completed an 18 Million USD Seed Funding Round
Mystiko.Network, the leading Base Layer of Web3, has completed a 18 Million USD seed funding round led by Sequoia Capital India/SEA (now known as Peak XV Partners), with participation from Samsung Next, Hashkey, Mirana, Signum, Coinlist, Naval Ravikant, Sandeep...
Treasury yields retreat further post-Fed but nears key technical juncture
After nearing the highs for the year earlier this week, 10-year Treasury yields have come down a fair bit. The move lower was helped by a more dovish Fed yesterday, with the rebound last week now resembling a double-top pattern. But as yields retreat, they are nearing...
SNB chairman Thomas Jordan says rate cut is not a parting gift
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UK March flash services PMI 53.4 vs 53.8 expected
Prior 53.8Manufacturing PMI 49.9 vs 47.8 expectedPrior 47.5Composite PMI 52.9 vs 53.1 expectedPrior 53.0The services print was slightly softer but a stronger manufacturing print is a welcome development, contrasting with what is taking place in the euro area at least....
Market Recap – Gold & Stocks at record highs; Fed maintained rate cut forecast
Economic Indicators & Central Banks: The Fed signalled that rate cuts are still in the cards, stock markets rallied, Treasury yield were lower and the US Dollar was down from earlier highs. DOT PLOT: Fed keeps rates on hold and signals 75 basis points of cuts...
Limitless Opportunities Await at iFX EXPO LATAM 2024
iFX EXPO LATAM 2024 is poised to provide a wide range of exciting opportunities for all participants this spring, including traders, industry leaders, brokers, and specialists. The most anticipated event of the year in Latin America (LATAM) will be taking place on...
Eurozone January current account balance €39.4 billion vs €31.9 billion prior
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Eurozone March flash services PMI 51.1 vs 50.5 expected
Prior 50.2Manufacturing PMI 45.7 vs 47.0 expectedPrior 46.5Composite PMI 49.9 vs 49.7 expectedPrior 49.2Once again, the divergence in euro area economic performance is rather clear to see. While services activity is picking up and improving, the manufacturing sector...
Swiss franc tumbles after SNB surprises with a rate cut today
If there was going to be a surprise this week, the SNB was always going to be the one. And they certainly had the courage to do so, taking the first step well before any other major central bank in this latest cycle. Traders were certainly caught wrong-footed, having...
SNB cuts key policy rate by 25 bps to 1.50% from 1.75% previously
Prior 1.75%Easing of policy made possible as fight against inflation has been effectiveInflation likely to remain in the range below 2% over the next few yearsToday's easing ensures that monetary conditions remain appropriate2024 inflation seen at 1.4% (previously...
Germany March flash manufacturing PMI 41.6 vs 43.1 expected
Prior 42.5Services PMI 49.8 vs 48.8 expectedPrior 48.3Composite PMI 47.4 vs 47.0 expectedPrior 46.3It's a tale of two sides again for Germany as manufacturing conditions remain dire but at least offset by a stronger services sector performance. There was also a slight...
France March flash services PMI 47.8 vs 48.7 expected
Prior 48.4Manufacturing PMI 45.8 vs 47.5 expectedPrior 47.1Composite PMI 47.7 vs 48.6 expectedPrior 48.1The euro dips to the lows for the day after the softer readings here. Once again, manufacturing conditions remain a big drag but services activity was also weak in...
European indices follow Wall Street gains as risk sentiment stays upbeat
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