© Reuters. A view shows U.S. one-dollar and Russian 100-rouble banknotes in this illustration picture taken August 14, 2023. REUTERS/Shamil Zhumatov/Illustration MOSCOW (Reuters) -The rouble gave up early gains on Tuesday in volatile trade after the central bank hiked rates by 350 basis points to 12%, a move that was baked into market expectations after
Share: The University of Michigan’s Consumer Confidence data for August offered little change. Analysts at Wells Fargo point out that consumers anticipate prices to decline overall, despite their expectations of rising interest rates. Key quotes: “Consumers are becoming more convinced that inflation is cooling. Whether or not they fully understand the Federal Reserve’s
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People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate
Fed Governor Michelle Bowman spoke over the weekend and said: We should remain willing to raise rates at a future meeting if data show inflation progress has stalled. In considering further rate hikes and how long to keep rates restrictive, consistent drops in inflation will be looked for. Additional U.S. interest-rate increases will be needed.
As we noted in our Fundamental Analysis today, data on GDP, the labor market, and inflation are the determining factors for the Fed when planning monetary policy parameters. If the official employment data due on Friday (at 12:30 GMT) also turns out to be strong, Fed officials will have an additional argument in favor of
© Reuters. FILE PHOTO: A Canadian dollar coin, commonly known as the “Loonie”, is pictured in this illustration picture taken in Toronto January 23, 2015. REUTERS/Mark Blinch/File Photo By Fergal Smith TORONTO (Reuters) – Analysts have raised their bullish forecasts on the Canadian dollar as central banks globally, including the Federal Reserve, move closer to
Share: GBP/JPY stays pressured after reversing from three-week-old ascending resistance line. Downbeat oscillators, fears of BoE’s dovish hike direct sellers toward previous resistance line. Buyers need validation from BoE Governor Andrew Bailey and yearly high marked in July to retake control. GBP/JPY holds lower grounds near 182.00 after snapping a three-day uptrend the
Brazil’s central bank, Banco Central do Brasil, has cut its benchmark rate, Selic target rate, by 50 basis points. The consensus was for a 25bp cut. The Bank says that 25 was considered but the improvement in inflation dynamics was enough for a 50 point move: the current situation demands serenity and moderation in the
A snippet on what Deutsche Bank is expecting from the Bank of England: expect a +25bps hike taking the Bank Rate to 5.25% it is a close call between that and +50bps Beyond next week’s decision, see two more +25bps hikes rate cuts potentially starting from Q2 of 2024 — Announcement due at 1100 GMT,
