Author: FX
The Swiss National Bank (SNB) surprised market observers on Thursday by cutting its main interest rate by 25 basis points to 1.50%. This move signals the central bank’s confidence in its success in taming inflation. Link to Swiss National Bank Monetary assessment of 21 March 2024 press release CHF Price Action Following the Rate Cut Overlay of CHF vs. Major Currencies Chart by TradingView A key driver of the decision was the SNB’s revised inflation forecast, which now calls for notably lower consumer-price gains relative to the December forecasts. The SNB predicts inflation will average annual inflation at 1.4% for…
GBP/USD Analysis and ChartsBoE unchanged, votes 8-1 to hold ratesUK 2-Yr Gilt yield falls by 7bps.GBP/USD back below 1.2750.Most Read: Fed on Hold, 2024 Policy Outlook UnchangedThe BoE left the Bank Rate untouched today but MPC voting left a dovish feeling post-decision. At the last meeting, six out of nine members voted to keep rates unchanged, two voted for a rate hike, and one member voted for a rate cut. Today’s vote, eight unchanged and one cut, suggests that rate cuts are nearing.For all market-moving events and data see the real-time DailyFX Economic CalendarThe probability of a 25 basis point…
The Pound Sterling drops sharply from 1.2800 after the BoE keeps interest rates unchanged at 5.25%. Eight out of nine BoE’s MPC members have voted for holding interest rates at their current levels. The US Dollar rebounds as the Fed painted an upbeat US economic outlook. The Pound Sterling (GBP) falls sharply in Thursday’s late London session as eight out of nine members led-Monetary Policy Committee (MPC) of the Bank of England (BoE) has voted to keep interest rates unchanged at 5.25% for the fifth time in a row. The BoE was widely expected to announce a steady interest rate decision. However, BoE policymaker Catherine Mann, who…
assalve/iStock via Getty Images The Swiss central bank is the first among developed economies to cut interest rates by 25 bps to 1.5%, marking the first cut in nine years. The monetary tightening was a surprise move, with easing mostly expected to start only in June 2024 for major central banks. This step comes after Swiss inflation dipped to 1.2% in February, the ninth consecutive month that prices have been moving within the SNB’s 0-2% target range, indicative of price stability. The central bank explained, “The easing of monetary policy has been made possible because the fight against inflation over…
© Reuters. On Thursday, Deutsche Bank adjusted its stance on Pernod Ricard (EPA:) SA (RI:FP) (OTC: PDRDY), upgrading the stock from Sell to Hold and increasing the price target to €140.00 from the previous €135.00. This decision comes after a period of notable underperformance by the spirits company, with its shares dropping 24% since the initial downgrade on January 12, 2023. This decline has resulted in the stock underperforming the broader European market indexes, with a 21% lag behind the Stoxx 600 Food & Beverage index (SX3P) and a 47% fall compared to the index (SXXP). The analyst from Deutsche…
Gold (XAU/USD) Analysis Recommended by Richard Snow How to Trade Gold The Fed Gave Gold the Green Light after Reaffirming Rate Cut ViewThe Federal Reserve announced their latest monetary policy statement yesterday alongside the summary of economic projections. The immediate takeaways from the announcement include the Fed sticking with the original, three interest rate cuts this year alongside upward revisions to both inflation and growth.Fed Summary of Economic Projections, March 2024Source: Federal Reserve, Summary of Economic Projections March 2024Questions have been raised over just how tight economic conditions are in the US given the resilience of both the jobs market…
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FX option expiries for Mar 21 NY cut at 10:00 Eastern Time, via DTCC, can be found below – EUR/USD: EUR amounts 1.0900 2.7b 1.0990 1.9b – USD/JPY: USD amounts 150.00 573m – AUD/USD: AUD amounts 0.6500 1b . Source link
CHF/JPY is almost at its 2024 highs! Will the bears step in once again? Or can CHF bulls extend the pair’s upswing and bring it to new 2024 highs? If you missed the AUD/CAD, NZD/JPY, and NZD/USD trade opportunities from earlier this week, then you should check out the 4-hour setup that we’re looking at today! CHF/JPY 4-hour Forex Chart by TradingView CHF/JPY is hanging out at the 170.25 area, which is just above the R2 (169.90) Pivot Point line and the 170.00 psychological level for the pair. How high can CHF/JPY fly before the bears step in? Earlier today,…
With the BOE decision coming up in a few, I’m looking at a potential breakout on this pound pair. Which way do you think it might go? And can momentum can keep going in its favor? Here’s what I’m watching out for when it comes to the catalysts lined up for GBP in the next sessions. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link