Tomorrow welcomes the UK February CPI inflation print (Consumer Price Index) at 7:00 am GMT, followed by UK Chancellor Rachel Reeves claiming the spotlight with her Spring Statement. The Statement is expected to be announced around 12:30 pm GMT, following Prime Minister’s Questions. Inflation Expected to Cool Price pressures are still too high despite year-on-year
READ MOREAnother week has come and gone. The US Federal Reserve (Fed), the Bank of England (BoE), and the Bank of Japan (BoJ) all left their respective policy rates unchanged. The Fed underlined increased economic uncertainty (most central banks emphasised similar concerns), with growth (inflation) forecasts revised lower (higher). The BoE’s meeting was a bit of
READ MOREAs anticipated by economists and investors, the US Federal Reserve (Fed) kept the federal funds target rate at 4.25% – 4.50%. Overall, the rate statement and the Summary of Economic Projections (SEP) aligned with expectations. Rate Statement For ease of reference, I have highlighted new additions to the statement in green and indicated sentence removals
READ MOREVersus the US dollar, spot gold (XAU/USD) rallied strongly in the early hours of the US session and is now up 1.5% on the day. Currently trading at US$2,977 and refreshing record highs, the precious metal is on the cusp of bumping heads with the widely watched US$3,000 level. Gold’s Uptrend Remains Intact Although Gold’s
READ MOREThe Reserve Bank of Australia (RBA) will meet this Tuesday and is widely anticipated to deliver its first rate cut in four years amid easing inflationary pressures. I am ‘reasonably’ convinced that the central bank will reduce the Cash Rate this week, a belief based on inflation and growth data that delivered prints south of
READ MOREFollowing the RBNZ cutting its Official Cash Rate (OCR) by 50 basis points (bps) in November 2024, economists and investors expect another bumper 50 bp rate reduction on Wednesday this week – with an outside chance of a more minor 25 bp reduction. A 50 bp (25 bp) adjustment would bring the OCR to 3.75%
READ MOREThe FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: Potential Diamond Bottom Pattern on AUD/USD Daily Timeframe: Following a 12% plunge since topping out at US$0.6942 at the beginning of October 2024 – with pullbacks few and far between – the AUD/USD (Australian dollar versus the
READ MOREUS Dollar Index Still Going Strong The US Dollar (USD) Index recently presented strong technical confluence supporting a USD rebound, which aligns with the underlying macro narrative. Earlier last week, you may recall, I underscored the possibility of a USD bid on the following observations: Local monthly support at 105.91-107.39, the 50-month (101.11) and 200-month
READ MOREThe ECB (European Central Bank) continued policy normalisation today, with another 25 basis points (bps) worth of cuts across all three benchmark rates. This marks the fourth consecutive rate reduction, bringing the Deposit Facility Rate, the Refinancing Rate, and the Marginal Lending Facility Rate to 2.75%, 2.90%, and 3.15%, respectively. Frankly, I was not expecting
READ MOREThe Week That Was: Earnings season kicked off on a high note, with most results exceeding estimates and lifting US equity indices to fresh record highs. This, coupled with China’s fresh round of stimulus measures failing to inspire investors, tier-1 data from G10 economies, and the European Central Bank (ECB) announcing another 25 basis point
READ MOREThe Week That Was: RBNZ Slashed Rates by 50bps The week kicked off with the Reserve Bank of New Zealand (RBNZ) reducing its Official Cash Rate (OCR) by 50 basis points (bps) to 4.75%, a move that was widely expected and marked the central bank’s second consecutive rate cut this year. The RBNZ signalled that
READ MOREYour weekly outlook of technical patterns and structure. The FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: AUD/USD Breakout Higher? Overnight, the AUD/USD (Australian dollar versus the US dollar) rallied higher and has seen the pairing maintain its position at the underside of a monthly symmetrical
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