Weekly Market Recap: December 13-17
Central banks dominated this week, with the Fed speeding up its QE tapering, Bank of England surprising markets once again and ECB announcing reduction in asset purchases, while maintaining its dovish stance
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Central banks dominated this week, with the Fed speeding up its QE tapering, Bank of England surprising markets once again and ECB announcing reduction in asset purchases, while maintaining its dovish stance
Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events
The Bank of England (BoE) decided to raise interest rates for the first time since the pandemic, in the face of surging inflation
Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events
As we head into the next tightening cycle, it is informative to consider the relationship between the dollar and gold. To this end, below is the weekly relative strength chart of FXCM's USDOLLAR basket and our XAUUSD instrument. The chart has a cyclical component to it. Between 2011-2013, the ratio formed a base or accumulation pattern (first green rectangle). When this completed, the greenback appreciated against the precious metal in…
UK inflation surge, generated volatility and put pressure on the pair, with market participants awaiting Thursday’s monetary policy decisions by the central banks of England and Europe
Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events
The Bank of England meets on Thursday December 16, after it had wrong-footed markets in November with its decision not to hike rates and investors approach this meeting with seemingly limited expectations
Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events
The US Federal Reserve hands down its monetary policy decision on Wednesday December 15, along with the updated economic projections
Friday's headline CPI release indicates that US inflation is rising at its fastest pace since 1982. Month on month showed a rise 0f 0.8% and a 6.8% increase on an annual basis. Core CPI, which strips the series of volatile items, came in at 0.5% m/m and 4.9% y/y. The core increase is the steepest since 1991. Despite the high reading, large-cap US indexes gained on Friday and the week.…
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