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European Open: BOJ members discussed tweaking YCC, Jan minutes reveal
So the BOJ have indeed been discussing potential tweaks to one of their major policies, although that is not to say any of it will happen soon (if at all) before being scrapped
European Open: Currencies tread water ahead of Jerome Powell speech
The USD pulled back yet mostly held on to its post-NFP gains in anticipation of a hawkish speech from Jerome Powell this evening.
Another 25bp hawkish hike from the RBA
The RBA hiked the overnight cash rate by 25bp to 3.35% - its highest level since September 2012 – and warned of further increases in the months ahead.
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The RBA are expected to hike by 25bp tomorrow
Whilst money markets favour a 25bp hike tomorrow, we shouldn’t discount the potential for a 15bp or even a 50bp hike.
European Open: EUR/GBP probes YTD high ahead of BOE and ECB meetings
With the Fed having delivered their 25bp yesterday, it is now over to the BOE ECB today, who are expected to hike by 100bp between them.
Fed fund pricing calls bulldust on Fed hike(s)
Whilst the Fed effectively confirmed two more 25bp hikes to are to follow, Fed fund futures remain unconvinced and are pricing in a single hike to take rates to 5%.
Market pricing and economists favour a 25bp hike from the BOC tomorrow
Market pricing and the consensus among economists firmly points towards a 25bp hike from the BOC tomorrow.
Not for the first time, the BOJ spite the hype (presser pending…)
There were high expectations from the BOJ at today’s meeting, yet what they delivered was a nothing burger. That is classic BOJ!
The yen is aggressively stronger following the BOJ’s YCC announcement
A sleepy session in Asia has been rudely awoken from is lull on the news that the BOJ will review their YCC (yield curve control), sending the Japanese yen sharply higher across the board.
European Open: FTSE bulls eye 7600 - SNB, BOE and ECB up next
The bullish bias on the FTSE is holding up so far, and attention now moves over to central bank meetings with the SNB, BOE and ECB over a 7-hour period today.
Mexico CPI lower, however Core CPI still on the rise
Will the stronger Core CPI cause the Bank of Mexico to hike rates by another 75bps when it meets next Thursday?
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.
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 RBA's 25 vs 50bp hike debate is no longer ‘finely balanced’
The RBA’s November minutes lean towards 25bp hike/s with a pause along the way, with a 50bp hike likely requiring higher inflation expectations and wages.
Bank of Mexico hikes rates by 75bps, as expected. USD/MXN at lowest level since March 2020.
The Bank of Mexico stuck to the script and hiked rates by the same amount as the US Federal Reserve, 75bps, to bring its overnight rate to 10%.
Will the RBA repeat with a 25bp hike tomorrow?
The RBA are set to hold their November meeting tomorrow at 14:30 AEDT and, whilst the consensus is for a 25bp hike, it doesn’t mean they won’t do a 50bp one instead.
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Will the RBA repeat with a 25bp hike tomorrow?
The RBA are set to hold their November meeting tomorrow at 14:30 AEDT and, whilst the consensus is for a 25bp hike, it doesn’t mean they won’t do a 50bp one instead.
European Open: The DAX meets resistance ahead of today’s ECB meeting
The DAX may have tracked global equities higher, but it finds itself on a key resistance level ahead of today’s ECB meeting. And that makes it a pivotal level for traders.
European Open: The DAX meets resistance ahead of today’s ECB meeting
The DAX may have tracked global equities higher, but it finds itself on a key resistance level ahead of today’s ECB meeting. And that makes it a pivotal level for traders.
European Open: The BOJ increased bond purchases, BOC meeting in focus
The BOJ aggressively purchased bonds at the long end of the curve and sent the 30-year yield markedly lower, although the move did not spill over the yen pairs.
European Open: The BOJ increased bond purchases, BOC meeting in focus
The BOJ aggressively purchased bonds at the long end of the curve and sent the 30-year yield markedly lower, although the move did not spill over the yen pairs.
The BOC just dropped one of their preferred CPI measures
During a hawkish speech, the BOC governor outlined which of the three ‘preferred’ CPI measures they will no long focus on, and why.