FOMC Hikes Policy Rate by 75 Basis Points, Signals Many More to Come
The Federal Reserve Open Market Committee (FOMC) lifted the federal funds rate to the 3.0% to 3.25% range and reaffirmed a continuation of its balance sheet runoff. The Fed updated its language stating that “recent indicators point to modest growth...
Pound Falls to New 37-year Low, Fed Looms
The British pound continues to lose ground. GBP/USD is trading at 1.3436. down 0.33%. Earlier in the day, the pound fell to 1.1304, its lowest level since 1985. Fed expected to hike by 0.75% The Federal Reserve holds its policy...
Another Fed Hike is Coming; Mind the Dots
We have a very busy week ahead of us with four central bank meetings on the agenda, but the one to stand out may be the FOMC decision, scheduled on Wednesday at 18:00 GMT. Following last week’s hotter-than-expected CPIs for...
Week Ahead: It’s all about the FOMC and the BOE
The focus for the markets this week will be on the FOMC meeting on Wednesday and the BOE meeting on Thursday. Both central banks are expected to high rates. Monday will be the funeral for Queen Elizabeth II. As a...
Cost of Prematurely Crying Victory
Ouch! The US inflation data release didn’t go according to the plan yesterday. The headline figure printed 8.3% inflation in August, higher than the 8.1% expected by analysts, and happily, slightly lower than last month’s 8.5%. Yet, the US food...
UK Inflation to Accelerate; What Does this Mean for the Pound?
The UK has been in the spotlight recently, with Liz Truss becoming the nation’s new prime minister last Monday, and Queen Elizabeth passing away on Thursday. Although the BoE gathering – initially scheduled for Thursday – was postponed for next...
Week Ahead: It’s All About the Data!
There is a glut of economic data due out this week that could sway decisions at upcoming interest rate meetings. The UK, and the rest of the world, will mourn the passing of Queen Elizabeth this week. As a result,...
US CPI Preview: Inflation Could Fall to 8%, but the Fed isn’t Slowing Down Yet
To the downside, the first key support level to watch on USD/JPY will be 139.50, where prices topped out back in July… No matter where you are, you can’t help but hear about it: Inflation is the biggest economic topic...
King Dollar Feeds Off Aggressive Fed
King dollar’s scorched-earth ascent to a fresh 20-year peak has clobbered broad swathes of global financial markets, with dollar-denominated assets clearly bearing the brunt. Spot gold has returned into sub-$1700 domain, Brent futures have tumbled to their lowest since February,...
AUD/USD Edges Lower ahead of RBA Decision
The Australian dollar has started the week with slight losses. In the North American session, AUD/USD is trading at 0.6798, down 0.19%. Will RBA stay aggressive with a 50bp hike? The Reserve Bank of Australia meets on Tuesday, with investors...