The Central Bank of Russia will decide about its key rate today. There is a significant likelihood that the central bank lower its key rate to 8.5%. In July, the CBR decided to remain on hold, markets expectations for a rate cut are now strong...
(15 SEPTEMBER 2017)DAILY MARKET BRIEF 1:USD recovery was short-lived ahead of next week FOMC meeting
The US dollar got a fresh boost yesterday after the release of better-than-expected inflation report. The headline CPI gained 1.9%y/y, against median forecast of 1.8%, up from 1.7% in July. The core gauge also beat expectations of 1.6% by rising 1.7%y/y...
GBP Spikes Higher on Unchanged MPC as Language Turns Hawkish Talking Points - Monetary policy settings left unchanged but language turns hawkish - MPC votes 7-2 for rates to be left unchanged at 0...
It has been on a bumpy road since the beginning of the week as investors reacted to various events ranging from the latest progress made on the Brexit bill, accelerating inflation pressure to stalling wage growth. The pound sterling hit 1.3329 on Wednesday up more than 1% since Friday’s close...
That was not surprising. The SNB did not change its monetary policy this morning. Rates will remain negative at -0.75% and the target range for the 3-month Libor is unchanged at between -1.25% and -0.25%. Over the summer the Swiss franc weakened against the single currency...
Gold has largely increased since the start of the year going from $1150 to $1350. The sharpest increase was during the summer. The decline of the dollar was largely followed by an increase in the precious metal...
The pound sterling rallied strongly yesterday, hitting a one-year high against the greenback, as investors anticipate the upside surprise in inflation would force the BoE to step in. GBP/USD rose more than 0...
A week after the ECB meeting where the rates remained unchanged, ECB Vice President Constancio is going to hold a speech in Frankfurt. It is worth betting that most of the discussion will be around the Eurozone inflation and in particular the ECB difficulties to boost consumer prices...
UK August inflation gauge is due for release alter today and is expected to have accelerated further in August. The consumer price index should print at 2.8%y/y, reflection both rising fuel price and a weak pound sterling...
At its monetary policy meeting this Thursday the 14th, we expect the Swiss National Bank to do nothing significant – which will keep the Euro on its upward trend against the Franc...
Next week will be dominated by inflation releases and labor market reports from around the globe, as well as central bank meetings in Switzerland, the UK, Turkey and Russia. n a number of countries, inflation has dropped recently...
The global economy is picking up steam. At the same time, inflation may be a little weak whilst remaining close to central banks' targets. So what is preventing them from tightening, asks Global Chief Economist Paul Donovan...
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Great article in Bloomberg highlighting the disappearance of volatility in FI due to central bank’s interventionist policy. To reiterate a well-understood fact, central banks are suppressing the true price of risk in rates, which in turn are distorting all other market risk measures...
In spite of huge market expectations, Mario Draghi gave little information about the future of the QE and played for time once again. As broadly anticipated the European Central Bank did not change the level of any of its three key interest rates...
Finally, Wall Street is celebrating the removal of the immediate threat of the debt ceiling. However, the real news was Trump working with Democrats with a clear success. In rare bipartisan deal Trump, republicans with democrats extended the U.S...
Investors are bracing for an event heavy day. The highlight will clearly be the European central banks. However, the substantives information on monetary policy strategy path from this meeting is unlikely. We had originally penciled in a comments outlining the path towards normalization...
The Australian dollar took a hit overnight amid disappointing growth figures. The GDP grew 1.8%y/y, slightly below the 1.9% expected by most economists. On a quarter-over-quarter basis the economy grew 0.8% compared to 0.9% medina forecast...
Given the solid pick up in the Canadian economy the likelihood that the Bank of Canada rises interest rates by 25bp Sept 6th policy meeting has increase significantly. Exemplified by the strong 2Q GDP report, which indicated at 4.5% growth rate, the economy has expanded past the BoC projections...
