Market news: headline, short summary and source. Read the full story at the source.
Scotiabank strategists Shaun Osborne and Eric Theoret note the Euro (EUR) is consolidating in a tight range around the mid-1.15s as markets await the Federal Open Market Committee (FOMC).
Rabobank’s Senior FX Strategist Jane Foley notes the US Dollar (USD) has outperformed G10 peers on expectations the Fed will deliver around 100 bps of tightening over 12 months, but warns this may be excessive.
Brown Brothers Harriman’s (BBH) Elias Haddad notes GBP/USD is trading heavy near its 200-day moving average as United Kingdom (UK) gilts stabilize. August Consumer Price Index (CPI) slightly exceeded the Bank of England's (BoE) projections, but he still expects the BoE to hold rates at 3.75%.
AUD/USD trades in a narrow range on Wednesday as investors hold back from taking strong positions ahead of the Federal Reserve’s (Fed) monetary policy announcement. At the time of writing, AUD/USD trades around 0.7134, little changed on the day.
Scotiabank strategists Shaun Osborne and Eric Theoret report USD/CAD is steady near 1.39 as markets await the Federal Reserve (Fed) and the Bank of Canada’s (BoC) summary of deliberations. They note the BoC is likely to sound more hawkish after firmer inflation data and still-accommodative policy.
Nomura’s Global Markets Research team, including Josie Anderson, George Buckley and Andrzej Szczepaniak, notes that UK CPI data for August came in broadly as expected, with headline inflation at 3.1% and core and services measures unchanged.
Prior was 0.0% Retail inventories vs -0.5% prior This is a low-tier indicator but it's an important one for GDP and this biases Q3 to the upside. Expect to see GDP trackers climb after this number and the earlier retail sales report. This article was written by Adam Button at investinglive.com.
Prior month 35 US homebuilder confidence weakened more than expected in September: NAHB Housing Market Index: 32 vs 34 expected. Prior 35 September components compared with August: Current sales conditions: 35 vs 39 Sales expectations for the next six months: 37 vs 43 Traffic of prospective buyers: 23 vs 23 Builder confidence in the market for newly built single-family homes fell three points to…
The United States (US) Federal Reserve (Fed) announces its interest rate decision on Wednesday, following another pivotal meeting that could provide key insights into the monetary policy outlook heading into the end of the year.
ING’s Bert Colijn notes that Eurozone industrial production slipped by 0.1% in both June and July, leaving output broadly unchanged from a year earlier. He highlights resilience in capital goods and energy, but continued weakness in consumer-focused sectors, especially non-durable goods.
EUR/USD consolidates losses on Wednesday as traders avoid taking strong directional positions ahead of the Federal Reserve’s (Fed) monetary policy announcement.
Silver (XAG/USD) rebounds on Wednesday and trades around $64.00 per troy ounce at the time of writing, up 1.32% on the day.
Brown Brothers Harriman’s (BBH) Elias Haddad says the US Dollar (USD) remains supported by energy-driven risk aversion ahead of the FOMC decision.
MUFG’s Henry Cook expects the Bank of England to deliver a hawkish hold, with UK inflation driven higher by energy and headline CPI projected to exceed 4% after the January price cap reset.
Rabobank’s Senior Macro Strategist Bas van Geffen notes that EUR money markets now discount more than four additional European Central Bank (ECB) rate hikes beyond the two already delivered, as investors push expectations ahead of policymakers.
Retail Sales in the United States increased to $773.9 billion in August, the US Census Bureau reported on Wednesday. This print represents a monthly gain of 1.2%, a reversal of the 0.5% contraction recorded in the previous month, and came in above market expectations (+0.8%).
Deutsche Bank’s Shreyas Gopal notes that Bank of England (BoE) meetings have repeatedly seen early market speculation on tightening fade as decisions approach, keeping the Pound stable and EUR/GBP in a narrow range.
Prior month +18.3% revised to 18.5% Canada’s July building permits: Building permits MoM: -17.3% vs -6.4% expected. Prior +18.5% Total permit value: $12.2 billion, down $2.6 billion from June Constant-dollar permit value: -17.5% MoM and -2.2% YoY July sectors compared with June: Non-residential: -$1.9 billion to $5.0 billion Residential: -$701.2 million to $7.2 billion Institutional: -$1.5…
Prior month import prices -0.3% revised from -0.4% Prior month export prices -1.4% US import and export prices for August: Export prices MoM: +0.6% vs +0.5% expected. Prior −1.4% Export prices YoY: +8.6% More details on Import and export prices: Import-price components—August versus July: Fuel imports: −0.1% vs −6.6% Nonfuel imports: +0.8% vs +0.3% Foods, feeds and beverages: +0.1% vs +0.7%…
Prior was -0.6% (revised to -0.5%) Ex autos +1.4% vs +0.5% expected Prior ex-autos -0.3% (revised to -0.2%) Retail sales control group +1.4% vs +0.4% expected Prior control was -0.4% Ex autos and gas +1.2% vs -0.2% prior (revised to -0.3%) Retail sales y/y nominal 6.0% vs 5.01% prior This is a very strong report right down the list and yet-another reason for the Fed to hike rates. It's also a…
News text belongs to its source; only the headline and a short summary appear here.
