New UK Chancellor Announced More Policy Reversals, After a Chaotic Week
After a tumultuous week and U-turns from the British government, the newly appointed finance minister, announced further changes to the fiscal plans
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After a tumultuous week and U-turns from the British government, the newly appointed finance minister, announced further changes to the fiscal plans
Yesterday's CPI print surprised to the upside. Headline CPI came in at 8.2% y/y against an expectation of 8.1% y/y. However, core CPI is up 6.6% from a year ago. This print matched the previous release and is the fastest rate of change since 1982.
In this week's podcast, FXCM Senior Market Specialists Russ and Nik discuss the fallout from the UK's mini-budget. The two specialists also talk about jobs data and how that impacts the Fed's monetary policy in its battle to tame inflation. In addition, the environment increases in complexity with the Q3 earnings season kicking off this week. Join our specialists as they discuss these and more.
The central bank of New Zealand maintained its hawkish stance and delivered another 50 basis points interest rates hike today, just a day after its Australian counterpart slowed its pace
The real rate uptrend remains valid, and the upward green trendline defines its momentum. In this vein, a pullback to test this momentum will be compelling, given the Fed's current aggressive monetary policy. As such, and until proven otherwise, a dip in the yield uptrend remains our preferred scenario.
Australia’s central bank raised interest rates again today, but the 0.25% move was smaller than expected and constituted a step back from the larger hikes in the previous four meeting
Core PCE, the Fed's preferred inflation measure, exceeded the 4.7% YoY forecast, printing at 4.9%. However, on a month-on-month basis, it was 0.6% against the 0.5% expected. Food and energy prices are excluded from the core number, implying that aggregate demand hasn't adjusted as expected for the Fed's current hiking cycle.
This month and especially the current week, have been intense in terms of central bank activity, with historic rate hikes to contain inflation, in spite of rising fears of recession
The Federal Reserve delivered another historic 75 basis points rate increase and upgraded its forecast, seeing rates as high as 4.4% by the end of the year
The Russian invasion of Ukraine in late-February 2022 brought historic volatility to the financial markets. Traders and investors alike were forced to address the financial fallout as the markets repriced products such as crude oil, wheat and the Russian ruble (RUB). As the situation developed into an extended armed conflict, asset pricing ebbed and flowed in response to key events. Unprecedented sanctions, logistics challenges and escalatory cycles all prompted periodic…
Last week's CPI numbers showed resilient inflation. This surprised markets and introduced 100bps as an option for the Fed. Join FXCM Market Specialists Russ and Nik as they discuss this, the new terminal rate, and the chances of the Fed overshooting. The two specialists also examine the yield inversion and discuss the BoJ's monetary policy. Please join us for these and more.
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