Markets appear to be pricing in an interest rate cut from Australia’s central bank early this year, so I’m keeping close tabs on these EUR/AUD and AUD/JPY levels in case the inflation report misses expectations. Our Event Guide for the November 2024 Australia CPI points out that the RBA is already projecting that inflation is returning to target,…
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Can Australia’s latest inflation figures reinforce their central bank’s shift to a more dovish bias? Or are we about to see upside surprises that could keep the RBA neutral? Here’s what market analysts are projecting for the November 2024 Australian CPI report. This Article Is For Premium Members Only Become a Premium member for full website access,…
Mitsubishi UFJ Financial Group (MUFG) are bearish on GBP, citing Bank of England interest rate cuts to come: We see the pricing for Bank of England (BoE) rate cuts this year as too cautious and expect the BoE to cut by more which will likely see the pound underperform non-dollar currencies later in the year with the US dollar…
December inflation in Turkey surprised to the downside with a drop from 47.1% to 44.4% YoY, below market expectations, ING’s FX analyst Frantisek Taborsky notes. TRY returns to the weakening trajectory of previous weeks “Downside risk was indicated by inflation numbers from Istanbul yesterday. This is good news for the central bank after the start of the cutting cycle…
The Caixin/S&P Global China General Services PMI is scheduled for release today, January 6, 2025, at 01:45 UTC, which is January 5 2045 US Eastern time: Over the past six months, the Caixin/S&P Global China General Services PMI has indicated consistent expansion in the services sector, with readings above the 50-mark. However, there have been fluctuations, with notable slowdowns…
EUR/USD has resumed its phase of decline after breaching below lower limit of recent range (1.0330), Societe Generale’s FX analyst note. EUR/USD resumes its decline “Daily MACD has started posting positive divergence, but signals of a meaningful bounce are not yet visible. The high achieved earlier this week near 1.0460 is an important resistance near term.” “Inability to cross this…
Pound Sterling trades cautiously as BoE dovish bets tick higher The Pound Sterling (GBP) trades with caution against its major peers on Friday, faces pressure from weak United Kingdom (UK) S&P Global/CIPS Manufacturing PMI data for December. On Thursday, the final PMI report showed that activity in the manufacturing sector contracted at a faster pace to 47.0 compared to the preliminary…
PMI manufacturing index register the price level since March 2024. Manufacturing PMI: December: 49.3, November: 48.4 (+0.9) – HIGHER New Orders: December: 52.5, November: 50.4 (+2.1) – HIGHER Production: December: 50.3, November: 46.8 (+3.5) – HIGHER Employment: December: 45.3, November: 48.1 (-2.8) – LOWER Supplier Deliveries: December: 50.1, November: 48.7 (+1.4) – HIGHER Inventories: December: 48.4, November: 48.1 (+0.3)…
