Last week we saw The European Central Bank (ECB) raise rates by 25bps and US CPI numbers. As we saw US inflation continues to remain at elevated levels and higher for the longer has once again been brought back into focus. The USD still maintained its move higher with the DXY gaining around 0.2%.
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Last week was quieter though the US Dollar continued its recent trend. The DXY rose 0.8% to close just above 105 and this 2-month USD rally is now beginning to look overdone.
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Last week we saw a plethora of important data as we moved in September. US Inflation and GDP were inbound along with the all-important payrolls.
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Last week we thought might be quieter given we are in the summer months but as ever the market looked to prove us wrong. The weeks focus was on the Jackson Hole symposium…
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Last week we saw the continuation of dollar and yields rising bringing a general risk off sentiment to equities and commodities.
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Last week was the first full week of August. Usually, a more peaceful time in the markets but this year continues to be the exception to the rule. US Dollar and Yields rose post CPI release.
The post US Dollar and Yields Rally first appeared on trademakers.
Last week we saw continued dovish tones from central banks. Firstly, the RBA left rates unchanged, surprising markets who were expecting a 25bp rise.
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Last week both the Fed and ECB raised rates in line. However Fed Chairman Powell continued a dovish tone on any future rate rises saying it will be data dependent. ECB Lagarde also noted that they may have reached the end of their tightening cycle.
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Last week we saw continued evidence of inflation starting to slow across the global economy. The UK which has the most stubborn level of inflation showed signs of slowing.
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Last week was a volatile one as slowing inflation and further reduction in upward price pressure came through in the data. CPI and PPI both came in lower which sent both yields and the US Dollar lower.
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Last week we saw sentiment move more and more towards further rate rises for the Fed with the phrase “Higher for Longer” being touted. The US job market remains hugely resilient with this week’s CPI print being hugely important for forward guidance.
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Last week we had a week of consolidation post recent central bank announcements. Continued hawkish rhetoric from both the Fed and the ECB came out through the week stating the fight against inflation continues but how much more tightening monetary policy can the global economy take?
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Our previous report had the Fed dominating the week. Last week it was the turn of the BoE and Norges Bank who both surprised by raising base rates 50bps. Inflation remains stubbornly high in the UK…
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Last week we were dominated by the Fed which held rates mid-week. However, despite the hold the tone was a hawkish hold with a further 2 rate rises expected with fed funds looking to peak around 5.6% vs the original expectation of 5.1%.
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Last week we had a quieter week after the volatility ahead of the debt ceiling agreement. With much detail to digest the market looked towards the CPI and interest rate decisions…
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Last week we saw the predictable debt ceiling agreement. This was then duly passed in the house and senate. With the week ending with good employment payrolls markets took a further leg higher.
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Last week was dominated by the continued talk over the debt ceiling and how to break the current impasse. However, Friday we began to see signs that an agreement was close and the market moved to add risk.
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Last week all eyes were on the Greenback and if it could continue its strong run. The week ended with just that although it did give up some gains by later in the week.
The post USD Momentum Slows as Debt Ceiling Talks Continue first appeared on trademakers.