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The Great Elastic Band Still Points South

The Great Elastic Band Still Points South

For major equity markets, it was a very strong rally at first through Europe, and then into New York. Nevertheless, the end of day looked a little tired in New York trading. This is because traders seemed to want to simply forget the terrible re-acceleration of inflation, producer prices and then the PCE that we have just seen. As if they were suddenly yesterday’s news.
ACY Securities | 1344 hari yang lalu
Why Europe Should Avoid Fiscal Largesse

Why Europe Should Avoid Fiscal Largesse

Although the next UK budget is not due for several months, there are already growing calls for the government to cancel the planned increase in corporation tax. The decline in energy prices has reduced the expected outflows for the UK's energy price guarantee scheme (EPG).
ACY Securities | 1345 hari yang lalu
Inflation Re-Acceleration Confirmed

Inflation Re-Acceleration Confirmed

US Core PCE rose 0.6% in January. Confirming inflation is by no means defeated. In fact, Inflation is winning the war over the Fed. Core PCE accelerated for the second month in a row. From 0.2%, to 0.4%, to 0.6%.
ACY Securities | 1345 hari yang lalu
Yen enters a new downfall

Yen enters a new downfall

Expert market comment from senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Yen enters a new downfall
FxPro | 1348 hari yang lalu
FOMC Minutes: What are the Main Takes

FOMC Minutes: What are the Main Takes

The minutes of the February 1 FOMC meeting were largely expected, but with some hawkish edits added to reflect recent strong activity and inflation data. The majority supported a slowing pace of rate hikes by 25bp, but a few advocated for a larger 50bp hike, which had already been mentioned by Bullard and Mester.
ACY Securities | 1348 hari yang lalu
Fed Keeps to Higher Rate Path, DXY Flat; RBNZ Hike Lifts Kiwi

Fed Keeps to Higher Rate Path, DXY Flat; RBNZ Hike Lifts Kiwi

The Dollar Index (DXY), a popular gauge of the Greenback’s value against a basket of foreign currencies, closed steady at 104.22 (104.18 yesterday). Minutes from the Fed’s recent FOMC meeting showed that nearly all policymakers favoured more rate hikes to tame rising inflation.
ACY Securities | 1348 hari yang lalu
Dollar Bears Will Have to Be Patient

Dollar Bears Will Have to Be Patient

Last night's release of the February FOMC minutes provided little comfort to dollar bears who were looking for signs that the Fed was increasingly buying into the disinflation/slowdown narrative. Yet the subsequent rise in US yields and strengthening of the dollar has been quite muted.
ACY Securities | 1348 hari yang lalu
US Growth Revised Lower US Dollar Paradox

US Growth Revised Lower US Dollar Paradox

US Growth was not as strong as first thought in Q4. GDP was yesterday revised lower to 2.7%, confirming a year that was a real struggle. As we had forecast, but certainly against the general sentiment at the start of 2022.
ACY Securities | 1348 hari yang lalu
Key Takes from the Majors Currencies

Key Takes from the Majors Currencies

A string of stronger than expected US economic data has continued in February. It is supporting the USD with terminal rate expectations rising consensus bearish views being challenged.
ACY Securities | 1349 hari yang lalu