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The ZAR’s reaction to the SARB MPC decision and policy statement was relatively muted as the decision was in line with consensus, and guidance from the central bank was mostly like that issued in the previous meeting and address. On a positive note, we did see a slight upward revision to the outlook for GDP
It was Fed Day and it did not disappoint. As universally expected, the result of the FOMC was a “hawkish hold.” But we and the markets got a little more than bargained for as Chair Powell and the FOMC revealed an even more restrictive policy stance than anticipated, and clearly signaled a higher for longer
ECBs Vujcic is on the wires saying: As prices ease, the 4% rate will be more restrictive If outlook holds won’t need any more rate hike’s Latest hike puts us in a better position The EURUSD is trading at 1.0634. The low price today reached 1.0616 which was 6 pips short of the 38.2% retracement
Number of traders net-short has increased by 3.96% from last week. SYMBOL TRADING BIAS NET-LONG% NET-SHORT% CHANGE IN LONGS CHANGE IN SHORTS CHANGE IN OI EUR/GBP BULLISH 49.84% 50.16% -6.01% Daily -19.33% Weekly -2.48% Daily 3.96% Weekly -4.27% Daily -9.12% Weekly of clients are net long. of clients are net short. Change in Longs Shorts
Bank of England Holds Interest Rates Steady at 5.25% The monetary policy committee narrowly decided to hold (5-4) Disinflation expected to continue but growth forecasts for H2 likely to be weaker BoE hints at a potential peak in interest rates as the bank stated it will be “sufficiently restrictive for sufficiently long” to get inflation
© Reuters. FILE PHOTO: Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. REUTERS/Florence Lo/Illustration/File Photo By Samuel Indyk LONDON (Reuters) – The dollar hit a 6-1/2 month high on Thursday after the U.S. Federal Reserve signalled policy would remain restrictive for
Share: Riksbank’s half-hawkish hike leaves the Krona vulnerable, economists at ING report. 12.00+ risk remains on the table in the short-term We want to stress this was a missed chance for the Riksbank to materially lift SEK. The new rate forecasts suggest another hike is not particularly likely, but markets still see good
AUD/USD ANALYSIS & TALKING POINTS Fed guidance = elevated rates for longer. US initial jobless claims in focus later today. Long wick ominous for AUD. Recommended by Warren Venketas Get Your Free AUD Forecast AUSTRALIAN DOLLAR FUNDAMENTAL BACKDROP The Australian dollar took a turn lower after yesterday’s FOMC announcement and Westpac lending index data. The
Given “comfortable” level of Swiss inflation, the best solution is to wait and see Have to see what happens over the next 3 months Clear focus is on price stability We are not reacting to weakening in the economy, but to lower inflation I guess if any central bank has a case to make for
