Author: FX
As the Fed delivered a more hawkish than expected stance, the market sold off for some days as the risk of an overtightening coupled with a deep recession caused risk aversion across the board, affecting the Russell 2000. The Fed is resolute on bringing the inflation rate back to their 2% target and they are willing to go for a “hard landing” scenario to achieve that. This can be seen by the subtle hawkish messages like them not revising the terminal rate in the Dot Plot after the miss in the CPI report even if they could do so until…
The Central Bank of the Republic of Türkiye (CBRT) announced on Thursday that it left the policy, one-week repo, rate unchanged at 9% following the December policy meeting, as expected. Key takeaways from policy statement as summarized by Reuters “CBRT expects disinflation process to start on the back of measures taken.” “It is critically important that financial conditions remain supportive.” “Current policy rate is adequate.” “Leading indicators for the last quarter of the year continue pointing to a slowdown in growth due to the weakening foreign demand.” “Effects of foreign demand-based pressures observed in the manufacturing industry on domestic demand…
EUR/USD ANALYSISChinese optimism provides pro-cyclical currencies and euro with support.U.S. growth data dominates the economic calendar.Declining bullish momentum for EUR/USD? Recommended by Warren Venketas Get Your Free EUR Forecast EURO FUNDAMENTAL BACKDROPThe euro is having a firm start to Thursday’s European session with the dollar on the backfoot after China’s reiteration to stimulate economic growth boosted risk sentiment. Flows exited the safe-haven dollar helping the EUR gain further traction. In addition the European Central Bank (ECB)’s de Guindos maintained the hawkish narrative stating that “50bps may soon become the new standard” to quell rising inflationary pressures within the eurozone. Trade…
Okyo stock rises 10% on FDA nod to start trial of dry eye disease therapy Source link
3/3 © Reuters. An elderly resident stands from a chair after receiving a dose of a vaccine against coronavirus disease (COVID-19), during a government-organized visit to a vaccination center in Langxia town on the outskirts of Shanghai, China December 21, 2022. REUTERS/ 2/3 By Zoey Zhang and Bernard Orr SHANGHAI/BEIJING (Reuters) -A Shanghai hospital has told its staff to prepare for a “tragic battle” with COVID-19 as it expects half of the city’s 25 million people to get infected by the end of the year while the virus sweeps through China largely unchecked. After widespread protests and a relentless rise…
UK GDP Key Points: Recommended by Zain Vawda Get Your Free GBP Forecast READ MORE: USD/CAD Rangebound Ahead of Important Canadian Inflation DataGBP/USD continues to flirt with a break or bounce of the 200-day MA just below the 1.2100 level. Earlier this morning we had weaker than expected UK Q3 GDP data which failed to inspire a break lower with the lack of liquidity in markets no doubt playing a role. The data adds further credence to the belief that the UK has slipped into a recession.UK GDP data is estimated to have fallen by 0.3% in Q3, a downward…
According to Deutsche Bank’s metrics, the daily plunge in USD/JPY was the biggest in the past two decades while the surge higher in 10-year JGB yields was the largest since 2003. That certainly highlights how unprepared market participants were for the BOJ surprise and how Kuroda has certainly lost some trust of close BOJ followers/observers.ADVERTISEMENT – CONTINUE READING BELOW Source link
EUR/GBP gains traction for the second straight day and hits its highest level since mid-November. A downward revision of the UK GDP print undermines the GBP and extends support to the cross. A more hawkish stance adopted by the ECB supports prospects for a further appreciating move. The EUR/GBP cross builds on the previous day’s strong move up and climbs to the 0.0.8800 neighbourhood, or its highest level since mid-November during the early European session on Thursday. The British Pound continues with its relative underperformance in the wake of a dovish outcome from the Bank of England meeting last week,…
Zenvia announces pact with SenseData to extend payments Source link
5/5 © Reuters. Ukraine’s President Volodymyr Zelenskiy addresses a joint meeting of the U.S. Congress in the House Chamber of the U.S. Capitol in Washington, U.S., December 21, 2022. REUTERS/Jonathan Ernst 2/5 By Steve Holland and Pavel Polityuk WASHINGTON/KYIV (Reuters) – President Volodymyr Zelenskiy told the U.S. Congress that aid to Ukraine was an investment in democracy and “not charity” as he invoked American battles against the Nazis in World War Two to press for more assistance for his country’s war effort. Zelenskiy’s comments on Wednesday come as Republicans – some of whom have voiced increasing scepticism about sending so…