Global News

The pair jumped yesterday after US headline CPI eased, which led to dovish market repricing around the Fed’s next rate move, but some officials pushed back

The headline Consumer Price Index moderated to +8.5% y/y in July, from 9.1% in the prior month, while the core index proved more sticky, staying at +5.9% y/y

The pair dropped last week, after the gloomy BoE and blockbuster US Jobs report, but finds support during the current one, as markets brace for Wednesday’s US CPI inflation

The pair steadies today, after Friday drop due US unemployment decline to pre-pandemic levels and an overall strong jobs report, which boosts expectation for another big rate hike by the Fed

The first week of August remained a busy one, as we had a large number of high profile corporations releasing their financial results, such as chip-maker AMD, British energy giant BP, ride-hailing firm Uber and others

Major central banks have implemented aggressive rate-hike cycles in order to combat surging inflation, but fears of recession make their job difficult and their forward guidance unclear

The BoE delivered its biggest hike in twenty-seven years today, but moderated its guidance, while projecting recession and higher inflation ahead

The Organization of the Petroleum Exporting Countries (OPEC) and its allies decided to continue increasing their production next month, but only by 100,000 barrels per day

The US stock markets are at a better place today as investors try to put recent geopolitical tensions in the rearview mirror and turn their focus to today’s encouraging economic data

Sentiment is on the defensive on Sino-US jitters, while markets gear up for Wednesday’s meeting by OPEC+ in regards to production levels

The RBA delivered its fourth straight rate hike, but changed its rhetoric in a way that could be a precursor of more moderate moves ahead, sending AUD/USD lower