Global Markets

Watch today’s US Open for insights on the Bank of Canada decision to restart rate hikes, Eurozone’s unexpected first quarter contraction and more

There is high uncertainty around the monetary policy outlook, with this week’s surprise decisions by the RBA and the BoC being a testament to that

Watch today’s US Open for insights on Saudi Arabia’s additional oil output cut, the new hawkish surprise by the central bank of Australia, Apple’s mixed reality headset announcement and more

Last Friday’s NFP surprised to the upside printing at 339K – 193K was expected. Fed speakers talk about a skip in rate hikes and markets have repriced around this. Saudi Arabia announced a 1 million barrels/day cut for the month of July with an option to extend. The Reserve Bank of Australia surprised markets with a 25-bps hike but Bank of Canada is still expected to hold. On Friday we…

Australia’s central bank hiked interest rates again to the highest level in more than ten years, against baseline expectations for a hold, as inflation remains high despite its moderation

The US is predominantly a services-based economy. This makes the ISM non-manufacturing data particularly interesting. May’s figure was released today, printing at 50.3, down from 51.90 for April. This is a five-month low. When the numerical is above 50, companies are experiencing growth and expansion. The prices component of the survey came in at 56.2. This is down from 59.6 in April. The Fed is worried that services-based inflation is…

Watch today’s US Open for insights on the recent comments by Fed & ECB policymakers, the latest on the US debt ceiling and more

Markets had come to expect another rate hike in June after the hot PCE inflation figures, but two Fed voters advocated in favor of a skip on Wednesday, causing another repricing ahead of Friday’s key jobs report

FXCM’s CHN50 and HKG33 CFDs have charted a lower peak followed by a lower trough. This puts the indexes into downtrend.

Watch today’s US Open for insights on the latest around the US debt ceiling, the hot PCE inflation data that added to the hawkish repricing around the Fed’s rate path and more

Last week saw inflation coming in ahead of expectations. This has led to markets repricing the path of Fed hikes. US GDP came in better that expected but German GDP reflects technical recession. After a 90-minute call on Saturday, there is a debt ceiling deal which needs to be ratified by both Houses. Non-Farm Payrolls will be released this Friday, providing the next clue for rates. Listen in for these…