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The FOMC statement is due to be released on Wednesday at 7:00pm GMT. The CME FedWatch Tool suggests an unchanged target rate at 5.25%-5.50%. Inflation is moderating and, although the NFP was higher than anticipated, the labour market does seem to be cooling. These all point at monetary policy being in restrictive territory, aiding in achieving the Fed’s 2% inflation target over the coming months. However, the market will be…
Friday’s jobs data was stronger than expected. The non-farm employment change printed at 199K, which was ahead of the 184K forecast. This resulted in a lower unemployment rate of 3.7% (3.9%), whilst average hourly earnings came in at 0.4% m/m, double last month’s 0.2% m/m.
The pair has entered its second straight losing month as market hopes for an ECB pivot mount, but steadies this week as investors are cautious ahead of the policy decisions from both central banks
Watch today’s US Open for insights on the USD/JPY slump on BoJ pivot hopes, Eurozone’s Q3 contraction that bolsters prospects of peak ECB rates, Friday’s US jobs report and more
The Bank of Japan (BoJ) is due to release its monetary policy statement on 19 December and there is some assumption that the central bank will end eight years of negative interest rates. Whilst this is speculative, the prospect of policy shift resulted in the yen jumping by its highest levels since January. Earlier today BoJ Governor Kazuo Ueda said that the BoJ has several options on which rates to…
The pair rebounds this week, but had a limited reaction to Wednesday’s third straight hold by the Bank of Canada, looking to Friday’s US jobs report for more direction
The pair extended its losses on Tuesday after the RBA’s dovish hold, but bounces back today despite weak AU GDP print, with the US NFPs looming
Watch today’s US Open for insights on the dovish hold by the Australian central bank, the drop in oil prices despite OPEC+ cuts, dovish ECB remarks and more
The pair falls after last week’s steep deceleration in Eurozone inflation and faces renewed pressure today, after hawkish ECB member hinted at peak rates
Watch today’s US Open for insights on the inflation deceleration in the US and Eurozone, the hawkish hold from the central bank of New Zealand, Tesla’s Cybertuck delivery event and more
The pair extends this month’s rally after the New Zealand central bank kept more tightening in play despite holding rates steady, but today’s US PCE inflation update can determine its trajectory
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