US Open – 03 August 2023 (Video)
Watch today’s US Open for insights on the rate hike by the Bank of England and the impact on GBP/USD, the US downgrade by Fitch that weighs on Wall Street and more
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Watch today’s US Open for insights on the rate hike by the Bank of England and the impact on GBP/USD, the US downgrade by Fitch that weighs on Wall Street and more
After its previous outsized move, the BoE opted for a smaller 0.25% hike today, but the 3-way vote split and the typically absent forward guidance, sustain the uncertainty around the outlook
Fitch Ratings downgraded the U.S. government's long-term foreign-currency default rating from AAA to AA+. This change reflects concerns about the expected fiscal deterioration over the next three years, the increasing government debt burden, and governance issues compared to countries with higher ratings. Fitch also mentioned the repeated debt limit standoffs and last-minute resolutions as contributing factors.
Watch today’s US Open for insights on the second straight pause by the central bank of Australia, the stealth YCC tweak by the bank of Japan, China’s poor PMI and more
Core PCE came in at 4.1% y/y. This was lower than the 4.2% expected and lower than the previous print of 4.6%. This is the lowest annual rate since September 2021. On a monthly basis core PCE came in at 0.2%, which is 2.4% annualised.
The Bank of Japan kept rates at -0.1% and the QQE in place, but will now conduct Yield Curve Control (YCC) with greater flexibility, in a somewhat confusing tweak
Watch today’s US Open for insights on the latest policy decisions by the US Fed and its European counterpart (ECB), the strong quarterly results by social media giant Meta Platforms and more
The central bank raised rates as widely expected, but offered no guidance around the policy path, setting us up for an uncertain autumn
Watch today’s US Open for insights China’s economic support pledge, the Fed’s upcoming policy decision, Big Tech earnings and more
The US Fed makes another pivotal policy decision on Wednesday July 26, following last month’s hold and not long after the latest US CPI report that showed a deceleration in inflation
Watch today’s US Open for insights on the quarterly results from Tesla and Netflix, the soft CPI report from the United Kingdom and more
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