Category: News

December 8, 2023

A busy pre-Christmas for traders starts today with the latest US Jobs release at 13:30 UK. This week’s US labor data has been weak with Tuesday’s JOLTs Job Openings at the lowest level in nearly two-and-a-half years, while Wednesday’s private […]

December 7, 2023

The South African rand gained traction against the USD this Thursday as a weaker dollar and broad-based commodity gains supported the Emerging Market (EM) currency. South African current account for Q3 (see economic calendar below) improved significantly but remains below […]

December 5, 2023

The US Department of Energy has stepped up efforts to refill its stockpile after a record withdrawal last year to control inflation. The DoE is now due to receive 4 million barrels back into its reserves by February instead of […]

December 4, 2023

The fintech, founded in 2018 in London, has raised $56 million from strategic investors and venture capitalists, Goodall said. Some of those investors, including Bank of America and Citibank, are also clients, he said. For its U.S. bank customers, the […]

December 1, 2023

U.S. Treasury yields bounced back on Thursday after San Francisco Federal Reserve President Mary Daly said that it is premature to declare victory against inflation and that policymakers are not yet thinking about reducing borrowing costs. The rally in rates, […]

December 1, 2023

The Canadian dollar continues its ascendency against the USD reaching levels last seen in late September. Despite annualized GDP figures significantly missing estimates yesterday alongside a fall in average weekly earnings, the loonie rallied. The upside support was largely due […]

November 29, 2023

Inflation in Germany dropped to 3.2% compared to November 2022 and represented a further decline from October’s 3.8% year-on-year print. More notably, the month-on-month decline was 0.4% and sharper than the -0.2 estimate. EU inflation data is due tomorrow with […]

November 27, 2023

The GBP and Cable in particular has had a mixed start to the week, fluctuating between gains and losses. Markets in general were a bit slow today ahead of what is a relatively busy week on the data front. The […]

November 21, 2023

American voters across party lines support more funding to bolster security at the southern border, while support for foreign countries embroiled in conflicts exposes stark partisan divides, according to the latest NBC News national poll. The survey finds roughly 3 […]

November 21, 2023

Mastercard’s entrance into China’s domestic market will further reveal whether that gigantic consumer market is a huge win for U.S.-based card companies, or an ultimate loss. Mastercard said Monday that its Mastercard NUCC Information Technology joint venture with a Chinese […]

November 17, 2023

US oil is down nearly 16% in the last month and over 23% in the last seven weeks as sellers continue to control price action. After touching a $95/bbl. high on September 28th, US crude hit a multi-month low of […]

November 16, 2023

The euro has been capitating off the weaker than expected US CPI earlier this week despite weakening slightly both yesterday and today. Markets are seemingly expecting the Federal Reserve to have reached its hiking cycle peak and have since ‘dovishly’ […]

November 15, 2023

Inflation has dropped to 4.6% which means the chancellor and prime minister can claim victory in one of their five pledges – the one to halve inflation by the end of the year. True, there’s still a few months of […]

November 14, 2023

UBS expects the U.S. Federal Reserve to cut interest rates by as much as 275 basis points in 2024, almost four times the market consensus, as the world’s largest economy tips into recession. In its 2024-2026 outlook for the U.S. […]

November 14, 2023

Sky News has seen a letter from the Capital Markets Industry Taskforce (CMIT), an influential panel chaired by Julia Hoggett, the London Stock Exchange chief executive, which calls on Jeremy Hunt to advance his financial services programme in next week’s […]

November 9, 2023

The Euro appears to be gaining some traction against the Greenback of late. The 1.0700 handle however has proved stubborn with EURUSD unable to maintain gains once crossing the threshold. Markets continue to remain optimistic that the Fed are done […]

November 7, 2023

Chicago Federal Reserve President Austan Goolsbee said Tuesday a soft landing is still on the table as the central bank seeks to combat inflation without hurting the economy significantly. “Because of some of the strangeness of this moment, there is […]

November 3, 2023

Non-farm payroll data for October disappointed estimates of a 180k coming in at a 150k. In addition, the unemployment rate rose slightly from 3.8% to 3.9% while average hourly earnings posted mixed figures, rising year on year but cooling slightly […]

November 2, 2023

The FOMC statement and presser resulted in a reduced expectation that the Fed will hike rates in December – the final meeting for the year. Jerome Powell attempted to keep the door open for another rate hike after expressing that […]

November 1, 2023

The Federal Reserve on Wednesday again held benchmark interest rates steady amid a backdrop of a growing economy and labor market and inflation that is still well above the central bank’s target. In a widely expected move, the Fed’s rate-setting […]