Share: Economist Lee Sue Ann and Markets Strategist Quek Ser at UOB Group suggest GBP/USD is now seen trading within the 1.2085-1.2240 band in the next weeks. Key Quotes 24-hour view: We expected GBP to trade in a range of 1.2085/1.2155 yesterday. GBP dipped to a low of 1.2090 before staging a surprising sharp
Share: Economists at MUFG Bank analyze GBP outlook ahead of the BoE announcement on Thursday. Weak economic activity The worsening economic data has been clear and will likely be clearly acknowledged by Governor Andrew Bailey in the press conference. We see this inevitable acknowledgement of weaker data and some evidence that the labour
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Share: Since the surprise interest rate hike on August 24, which gave the Lira a tidy 6% boost, the Turkish currency has been depreciating as if on a string. Economists at Commerzbank analyze TRY outlook ahead of the Turkish Central Bank (CBT) Interest Rate Decision. CBT’s restrictive monetary policy is only a necessary
Share: Economists at TD Securities discuss the Bank of Canada (BoC) Interest Rate Decision and its implications for the USD/CAD pair. Hawkish (25%) 25 bps hike. BoC hikes to 5.25%. Bank remains concerned that sticky inflation will delay the normalization of wage/inflation expectations, risking a wage-price spiral. October MPR still projects a soft
Share: Gold price is continuing to profit from the Middle East crisis. Economists at Commerzbank analyze the yellow metal’s outlook. Gold in demand as safe haven The news coming out of the Middle East is likely to continue to dictate the direction for Gold, whereas previously dominant factors such as changes in bond
Share: Investors face fresh uncertainties. Heightened geopolitical risks underline the merits of diversification, economists at UBS report. Oil and Gold assets will also be supported by market fundamentals Gold closed at a one-month high of $1,981 an ounce on 20 October, and is up around 8.7% over the past two weeks. Brent rose
Share: Focus back on the Euro. Economists at Commerzbank analyze the single currency outlook. Euro might suffer a dampener if Eurozone PMIs do not stabilise The Eurozone PMIs, due for publication today, are likely to further dampen any hopes of an economic recovery. The indicators are likely to confirm the projections of our
Share: All major weather agencies have formally announced the onset of El Niño. Strategists at ANZ Bank believe El Niño related disruptions will be short-lived and contained for the Asia-Pacific. El Niño is a regional story While production losses due to El Niño will exert upward pressure on food commodity prices in Asia
Share: USD/JPY has risen again to the area just below the 150 mark. Economists at Commerzbank analyze the pair’s outlook. The MOF’s intervention policy is dangerous The window in which the BoJ could have initiated a monetary policy turnaround is slowly closing. The headline inflation rate is falling and the core rate has
