On Thursday morning, the UK’s central bank the Bank of England, via its MPC (monetary policy committee), will reveal its latest decision regarding interest rates. On Tuesday the UK’s official statistics body, the ONS, announced that the (CPI) annual inflation figure for the U.K. came in at 2.9%, missing the forecast. The monthly figure for […]
The major currency talking point during Tuesday’s trading sessions, concerned the soaring rise of the UK’s pound, versus its peers. U.K. CPI inflation came in at 2.9% YoY for August, missing the forecast and increasing from the 2.6% recorded in July. The MoM rise was 0.6%, soaring from the -0.1% recorded in July. As a
Global equities enjoyed a relief rally on Monday with certain global indices reaching record highs. Hurricane Irma avoided Miami, whilst the potential catastrophic damage, which some mainstream media commentators were terming “Irmageddon”, failed to materialise to its full predicted extent, as the eye of the storm and the projected direction, was nudged off course. The
Measured versus a basket of its peers, the U.S. dollar closed out the week by plunging to its lowest level in approximately two years on Friday, whilst WTI oil collapsed by circa 3%. With hurricane Irma approaching and a huge earthquake hitting Mexico, which fortunately took place a sufficient distance from Mexico City, avoiding the
In our industry it always pays to expect the unexpected and to be aware how fundamental news drives our FX markets. A perfect illustration of the phenomena of calendar news moving markets, came our way on Wednesday, as Canada’s central bank raised the interest rate by 0.25%, causing a spike in the value of the
There was a buildup of fevered speculation on Thursday, surrounding the ECB’s interest rate and asset purchase scheme announcement, with many analysts suggesting that Mario Draghi, the president of the ECB, would deliver a more hawkish message, by way of maintaining the current interest rate at 0.00%, but begin to immediately taper the amount of
Over recent days (and weeks), the financial news narrative has been dominated by a combination of the tropical storm Harvey, the impending storms of Katia, Jose and Irma and the continuous geo political tensions between the USA administration and North Korea. Therefore (in certain ways) it was refreshing that investor news on Wednesday was dominated
As widely forecast, Australia’s central bank (the RBA), kept its main interest rate at 1.5%, however, AUD/USD broke to the upside, breaching R2, as the decision was made public. The Aussie made moderate gains versus several peers during Tuesday’s trading sessions, not necessarily due to the announcement, or the statement accompanying the decision, moreover as
In a relatively quiet day for economic calendar news, the geo political tensions in relation to North Korea, once again dominated the mainstream media’s commentary and as a consequence the investor narrative throughout Monday’s trading sessions. The financial media also focused on the rogue regime’s latest (alleged) hydrogen bomb test, which caused a significant earthquake
On Tuesday morning at 04:30am (GMT) September 5th, a highly significant, economic calendar event takes place; Australia’s central bank the RBA (Reserve Bank of Australia), will be revealing its decision regarding its main interest rate, which is currently 1.5%. Several Australian based economists and analysts are calling for the rate to be lowered, suggesting various
