Matt Simpson
Matt Simpson
Market Analyst
- Newest
- Popular
RBA hike rates by 25bp, more hikes to follow
The RBA used the last meeting of the year to hike interest rates by another 25bp – its eighth hike in as many meetings.
The consensus is for the RBA to hike by 25bp tomorrow
Whilst the potential for a pause cannot be ignored, I suspect the RBA are more likely to hike rates by 25bp tomorrow as they do not meet again until February.
Commitment of traders report (COT):
The commitment of traders (COT) report shows how large speculators are positioned across futures markets on the CME exchanges.
European Open: Currency markets pause for NFP, Equities pull back
Today’s NFP report is the main event for traders, and the consensus forecasts is for headline job growth to soften to 200k (261k previously), and the unemployment rate remain at 3.7%.
European Open: Flash PMIs and US inflation on tap
The US dollar has continued lower overnight following Powell’s dovish comments, with US inflation data having the potential to extend or reverse some of its move.
OK Fed followers: When is a pivot, not a pivot?
Jerome Powell hit the wires and effectively confirmed that the Fed will slow their pace of tightening, reigniting the argument over what a ‘pivot’ is.
European Open: China PMI’s disappoint, Jerome Powell in focus
China’s PMI’s may contracted at their fastest pace in 6-months, but hopes of China reopening have remained the focus to support sentiment.
Australian inflation fell… but just ‘weight’ a minute
Whilst Australia’s final inflation print for the year remains high by historical standards, it was much lower than expected at 6.9% y/y
European Open: Double top forms on EUR/USD
The US dollar has found some stability following hawkish comments from Fed members, which has seen a double top pattern form on EUR/USD’s daily chart.
European Open: RBNZ deliver a hawkish 75bp hike, FOMC minutes up next
As if 75bp was not enough, the RBNZ came out swinging by increasing their terminal rate much higher than we anticipated.
The DAX’s rally has been impressive, but nothing last forever
Several metrics show how strong the DAX has been of late, but we suspect it may have had too much of a good thing and is due to be knocked from its perch.