USD Bought Following the FOMC, and Today’s Bank of England Monetary Policy Announcement
Following yesterday’s FOMC meeting, the USD has been bought. While the policy interest rate remained unchanged, the interest rate forecasts of FOMC members indicated one more rate hike by the end of the year, and expectations for higher interest rates next year also shifted upwards. Chairman Jerome Powell’s press conference also reflected a hawkish stance. […]
Waiting Continues, Impact of Crude Oil Highs – USD/JPY Firmly at 147 Yen
As we approach the release of the results of tomorrow’s FOMC meeting, the early part of the week is likely to continue with a wait-and-see stance. USD/JPY has risen into the 147 yen range, and trading is consolidating in this range amid mixed buying and selling. One notable development is the rise in crude oil […]
At the ECB Council, Market Sentiment Shifts Towards Interest Rate Hike Pause, Leading to Euro Selling – Confirmation Expected in Today’s ECB President’s Speech
This week brings a lot of market-moving events, including the US FOMC, the Bank of England, Switzerland and Turkey, China’s policy rate, and the Bank of Japan announcing their policy interest rates among major countries. However, until Wednesday’s US FOMC meeting, there’s a lack of major events. Traders are beginning the week with a wait-and-see […]
Euro Weakens as Market Perceives ECB Rate Hike Pause; Confirmation Expected in Today’s ECB President Speech
During yesterday’s ECB Governing Council meeting, the market was divided between expectations of a rate hike and no change in interest rates. In the end, the ECB chose to implement its tenth consecutive rate hike. However, the ECB did not provide indications of further rate hikes, leaving an impression in the market that interest rates […]
Euro Weakens as ECB Raises Key Interest Rates
The ECB has increased its key interest rates by 25 basis points. Initially, there was a surge in the Euro as the market had been evenly split between expectations of a rate hike and no change. However, the Euro’s strength was short-lived, and it quickly turned into a selling spree. In the ECB staff’s outlook, […]
The ECB Governing Council: Rate Hike or Status Quo, with a Watchful Eye on US Retail Sales and PPI
The international markets ahead are brimming with significant events. Of particular importance to the Euro exchange rate is the ECB Governing Council’s announcement regarding monetary policy. Currently, the expectations for a status quo decision and a 25-basis-point rate hike are quite evenly balanced. Economist predictions seem to slightly favor the status quo camp. On the […]
U.S. CPI today, ECB Governing Council meeting tomorrow
Today’s focal event is the release of the August US Consumer Price Index (CPI). Market expectations are for an increase, with a forecasted month-on-month change of +0.6% and a year-on-year change of +3.6%. However, the core index is expected to show a more modest increase, with a month-on-month change of +0.2% and a year-on-year change […]
No clue today ahead of tomorrow’s U.S. Consumer Price Index
In anticipation of tomorrow’s release of the US Consumer Price Index for August, the market is facing uncertainty today. This CPI report is of particular interest for future actions by US monetary authorities in the autumn. The prevailing market consensus ahead of the September FOMC meeting leans heavily toward no change in policy rates. […]
After Governor Ueda’s Remarks, the Market is Becoming Aware of Early Normalization – Anticipation of Preemptive Moves
Following remarks by Bank of Japan Governor Ueda Kazuo regarding the timing of achieving the 2% price stability target, the market has begun to contemplate early normalization of monetary policy, centered around the removal of the negative interest rate policy. Governor Ueda expressed his opinion in an interview with Yomiuri Shimbun published on the […]
Canada’s August Unemployment Rate Matches Expectations, Strong Job Growth Lifts the Canadian Dollar
Canada’s unemployment rate for August remained at 5.5%, matching expectations and defying predictions of a rise from July. Job growth for the month was impressive, with an increase of 39,900 employed individuals, a significant improvement from July’s decrease of 6,400. This better-than-expected job growth indicates an improvement in Canada’s labor market. The positive employment-related data […]