Author: FX
UK finance minister Reeves trims her spending plans in face of slowing economy Source link
Goldman Sachs is out with a note saying that high inflation and high survey-based inflation expectations raise the bar for possible rate cuts this year. They add that survey data are muddied by respondents’ political leanings, but still can’t be ignored. They also keep a door open for cuts saying that deteriorating economic indicators could still push the Fed to cut interest rates. Rising survey-based inflation expectations have been a new thing in 2025 and started to attract the attention from traders and policymakers. They are getting dismissed citing market-based inflation expectations which have been stable just a bit above…
Durable Goods Orders in the US rose unexpectedly in February.US Dollar Index stays in daily range above 104.00.Durable Goods Orders in the US rose by 0.9%, or $2.7 billion, in February to $289.3 billion, the US Census Bureau reported on Wednesday. This reading followed a 3.3% increase (revised from 3.1%) reported in January and came in better than the market expectation for a decrease of 1%.”Excluding transportation, new orders increased 0.7%,” the Census Bureau noted in its press release. “Excluding defense, new orders increased 0.8%. Transportation equipment, also up two consecutive months, led the increase, $1.4 billion or 1.5% to…
FTSE 100 edges up as inflation cools, eyes on Reeves' budget Source link
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Prior +3.0%Core CPI +3.5% vs +3.6% y/y expectedPrior +3.7%The readings are a surprise to the downside even as services inflation held unchanged at 5.0% in core terms on the month. Instead, goods inflation was the one leading the drop with a fall from 1.0% in January to 0.8% in February. The former will not be too welcome by the BOE as it reaffirms stickier inflation as a whole still.The pound is a touch softer on the report with GBP/USD falling to 1.2920 from around 1.2940 earlier. But given the breakdown, I wouldn’t see this as being too comforting for the…
The Australian Dollar rises amid reports that Trump may fast-track the implementation of tariffs on US Copper imports. Australian Treasurer Jim Chalmers unveiled the 2025/26 budget on Tuesday, proposing tax cuts totaling around A$17.1 billion over two rounds. The US Dollar strengthens as market caution grows ahead of US President Donald Trump’s tariff announcement on April 2. The Australian Dollar (AUD) received support as copper futures surged to a new record high on the Comex exchange on Tuesday, benefiting from Australia’s position as one of the leading Copper exporters. Bloomberg reports that Trump could accelerate the timeline for imposing tariffs…
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Australia’s monthly inflation print came in at 2.4% year over year in February, a touch softer than January’s 2.5% growth and today’s expected reading. This marks continued progress in the Reserve Bank of Australia’s (RBA) efforts to bring inflation sustainably back within its 2-3% target band. Trimmed mean inflation – the RBA’s preferred core gauge – also dipped to 2.7% from 2.8%, reinforcing the view that underlying price pressures are continuing to cool. The largest contributors to annual inflation were: Food and non-alcoholic beverages (up 3.1%) Alcohol and tobacco (up 6.7%) Housing costs (up 1.8%) Rental prices rose 5.5% annually,…
It was another risk-on day in the financial markets, as higher-yielding assets wound up mostly in the green, despite some dips early on. From Australia’s surprise tax cuts to potential exemptions to U.S. tariffs, there were a few more reasons for investors to stay in a positive mood. Here are the latest updates you need to know. Headlines: BOJ January meeting minutes showed higher inflation forecasts and willingness to tighten policy further Australian government announced tax cuts and an extension of energy rebates in the pre-election budget People’s Bank of China (PBOC) to inject 450 billion CNY of liquidity into…