US Open: Central Banks Edition – 31 January 2023 (Video)
Watch today’s US Open for insights on the upcoming central banks blitz, as the US Fed, the Bank of England and the European Central Bank announce their monetary policy decisions
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Watch today’s US Open for insights on the upcoming central banks blitz, as the US Fed, the Bank of England and the European Central Bank announce their monetary policy decisions
Fed: 25 bps (priced in). Will the Fed send a strong message? Fed funds futures still pricing a pivot.
Advance GDP for Q4 printed at 2.9% q/q. This is lower than the previous 3.2% for Q3, but higher than the forecast of 2.6% q/q. Durable goods came in at 5.6% m/m - much higher than the expected 2.4% m/m. However, the data is hiding weakness. Consumer spending was lower than expected at 2.1% (2.9% - forecast), and there is a noticeable buildup in inventories. Given the weaker consumption, the…
Watch today’s US Open for insights on the latest earning by EV king Tesla, recent inflation surge in Australia, the technical Death Cross in USD/JPY and more
Watch today’s US Open for insights on this week’s key market themes, upcoming earnings and the technical outlook of NAS100, Netflix and other assets
Last week: -Poor retail data and industrial production (PPI) -Fed speakers: Brainard, Harker, Waller: —> rate hikes but Harker, Waller (amongst others) for 25 bps going forward. Blackout period for the Fed. -BoJ: Surprise to markets but not to economists. Kept 50bps defence level on JGBs. Door for normalisation is open. Upgraded CPI forecast for the year. This week: -Chinese markets are closed for the Lunar New Year celebration. -Oil…
Two series released yesterday came in weaker than expected. This raises the fear that the US is already in recession.
Watch today’s US Open for commentary on the upcoming policy decision by the Bank of Japan, as well as the technical outlook of EUR/USD and other assets
Join FXCM senior market specialists, Russ and Nik, as they discuss the hot topics for this week.
Headline CPI printed at 6.5% y/y and core inflation came in at 5.7%. Core CPI was 0.3% m/m, which equates to 3.7% y/y, but the series is moving in the right direction. The market is now pricing in a much less aggressive 25bps hike by the Fed for 1 Feb. The shelter index showed an acceleration, coming in at 0.8% m/m, higher than November’s 0.6% m/m. However, with the housing…
Watch today’s US Open for insights on the latest themes driving the markets, the Golden Cross of EUR/USD and more
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