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
Share: USD/CHF prolongs its two-month-old uptrend and climbs to its highest level since late June. The Fed’s hawkish outlook, rising US bond yields underpin the USD and remain supportive. Investors now look to the SNB policy meeting for some impetus ahead of the US macro data. The USD/CHF pair touches its highest level
Share: Markets have already written the script for the Fed today: a hawkish hold, and an unchanged 2023 dot plot. Any FX action would depend on potential revisions to the 2024 dots, economists at ING report. FOMC not a huge event for the Dollar The overall message by the Fed should be supportive
Share: AUD/USD continues with its struggle to gain traction on Tuesday and remains confined in a range. The September RBA meeting minutes fail to impress traders or provide any meaningful impetus. Subdued USD price action lends some support as traders move to the sidelines ahead of the FOMC. The AUD/USD pair extends its
Share: The Pound Sterling faces significant pressure as the BoE appears to be reluctant to raise interest rates further. BoE Swati Dhingra said that the current interest rate policy is sufficiently restrictive. The UK services sector shrinks after six months of expansion as consumer spending weakens. The Pound Sterling (GBP) cracked significantly amid
Share: “The timing of exit from the easy policy must be not too late but not too early,” Bank of Japan (BoJ) board member Naoki Tamura said on Wednesday. Additional comments Whether scaling back easy policy early next year will depend on various data at the time. Ending negative rate, YCC are all
Share: Powell’s hawkish tone on inflation and potential for further rate hikes propels USD/CAD to a three-month high of 1.3640, currently trading at 1.3613. Philadelphia Fed’s Patrick Harker adds fuel to the fire, stating rates are already restrictive and may need to rise further if inflation stalls. Lackluster Canadian retail sales data at
Share: Economists Société Générale analyze USD/MXN outlook ahead of Mexican first half-month inflation. Mid-month CPI data is set to show further deceleration The mid-month CPI data for Mexico is set to show further deceleration in the headline inflation to 4.61% from 4.78% and in core to 6.24% from 6.52%. The minutes of the
Share: UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting review the latest interest rate decision by the BSP. Key Takeaways Bangko Sentral ng Pilipinas (BSP) extended a pause in its tightening cycle for the third straight meeting, as widely expected. It left the overnight reverse repurchase (RRP) rate untouched at
Share: Gold now finds itself at its lowest level since mid-March. Economists at Commerzbank analyze XAU/USD outlook. Fed Chair Powell will probably leave all options open The recent renewed rise in US yields dampens investor interest, among both the more short-term-oriented speculative financial investors and the ETF investors. In this environment, the physical
