Monex

USD After a quiet Tuesday session, there are two stories front of mind this morning. The first is Hurricane Milton, which is barrelling towards Florida, and due to make landfall this afternoon. Our...

Headline inflation in the eurozone cooled to 1.8% in September, a sharp drop from the 2.2% recorded in August. More to the point, this leaves price growth across the bloc tracking below the ECB’s...

USD After what initially looked to be a slow start to the week, the dollar ended Monday trading on a high, helped largely by comments from Chair Powell overnight. Notably, he appeared to suggest that...

The SNB has trimmed the policy rate by 0.25%, in line with market consensus and our own pre-announcement call. That said, while a decision to cut rates was never in doubt, some market participants...

USD With the market still digesting the Fed’s cut last week, USD is lower across the board. The US Dollar index which measures the strength of the currency against its major peers is close to its...

USD The move by the US Fed to initiate its rate cutting cycle with a bumper 50bps cut came as a last-minute surprise last week, with the focus now turning to how the Fed will proceed from here, and...

GBP Yesterday the Monetary Policy Committee (MPC) voted 8-1 to maintain Bank Rate at 5% in their latest policy decision, matching our own call and market expectations. That said, of the 58 economists...

USD Despite sliding through the early part of Monday trading, the broad dollar stabilised from mid-day onwards, with markets continuing to assess the merits of a 25bp vs 50bp cut from the Fed on...

The ECB cuts the deposit rate by 25bps, as expected, and in line with our own pre-announcement call. More surprising to us were the revisions to the Bank’s macroeconomic projections. We had thought...

USD The dollar finished Tuesday trading on the front foot, helped by August’s core CPI which printed at 0.3% MoM, marginally stronger than the 0.2% reading markets had expected. Ultimately, this saw...

USD Perhaps unsurprisingly, the debate between Harris and Trump dominates the newspaper front pages this morning. Consensus opinion points toward Harris as the victor, with betting markets now giving...

With this morning’s July wage data broadly meeting consensus expectations, markets are no clearer on the next move for Bank Rate ahead of a policy announcement on September 19th, though a hold in...

USD Markets had been hoping that Friday’s jobs numbers would settle the debate over whether 25 or 50bps of rate cuts would be delivered by the Fed later this month. Ultimately, the data failed to...

USD Payrolls later today remain the main market event of the week. Indeed, many including ourselves, see the release as pivotal for the Fed, and likely to determine whether a 25 or 50bp rate cut...

USD The broad dollar fell almost half a percent through yesterday’s trading, a move catalysed by JOLTS job openings which significantly undershot expectations. Consensus forecasts had looked for a...

USD As expected, a rebound in yesterday’s ISM manufacturing figures helped the broad dollar to close out trading up on the day. Significantly, the employment sub-index climbed from 43.4 to 46.0 to...