Currencies
Dennis Snower warns that the end of the greenback's global primacy could trigger a panic-driven global economic re-ordering
24th Aug 25, 1:44pm
Dennis Snower warns that the end of the greenback's global primacy could trigger a panic-driven global economic re-ordering
Markets cautious ahead of Fed Chair Powell’s speech at Jackson Hole; hawkish soundbites from FOMC members and stronger PMI data unhelpful to the case for an imminent rate cut. Market pares pricing of Fed rate cuts
22nd Aug 25, 8:02am
Markets cautious ahead of Fed Chair Powell’s speech at Jackson Hole; hawkish soundbites from FOMC members and stronger PMI data unhelpful to the case for an imminent rate cut. Market pares pricing of Fed rate cuts
Minutes from July FOMC suggest members were more concerned about inflation than employment. The US administration has continued to pressure Federal Reserve officials. Tech stocks decline
21st Aug 25, 7:57am
Minutes from July FOMC suggest members were more concerned about inflation than employment. The US administration has continued to pressure Federal Reserve officials. Tech stocks decline
US equities are weaker, led by a notable fall in tech stocks. The risk-off vibe has seen US Treasuries well supported, with modest falls in rates. Commodity currencies have underperformed
20th Aug 25, 7:51am
US equities are weaker, led by a notable fall in tech stocks. The risk-off vibe has seen US Treasuries well supported, with modest falls in rates. Commodity currencies have underperformed
Markets distracted by Ukraine war negotiations, otherwise little movement as northern summer holidays crimps activity. US Treasury yields are slightly higher overnight; USD is broadly stronger
19th Aug 25, 7:37am
Markets distracted by Ukraine war negotiations, otherwise little movement as northern summer holidays crimps activity. US Treasury yields are slightly higher overnight; USD is broadly stronger
Roger J Kerr says the Fed will need to shift promptly from the current 'moderately restrictive' monetary policy to somewhere nearer a 'neutral' setting
18th Aug 25, 9:02am
Roger J Kerr says the Fed will need to shift promptly from the current 'moderately restrictive' monetary policy to somewhere nearer a 'neutral' setting
US equities consolidate near record highs amid mixed economic data. US retail sales were solid but consumer sentiment dipped aligned with increased inflation expectations
18th Aug 25, 7:33am
US equities consolidate near record highs amid mixed economic data. US retail sales were solid but consumer sentiment dipped aligned with increased inflation expectations
US PPI data much stronger than expected, with big jumps in both headline and core rates. Data drove up US rates, but market still shows strong conviction in a 25bps rate cut next month. USD broadly stronger
15th Aug 25, 7:53am
US PPI data much stronger than expected, with big jumps in both headline and core rates. Data drove up US rates, but market still shows strong conviction in a 25bps rate cut next month. USD broadly stronger
Positive tone for risk sensitive assets continues. MSCI world equity index reaches record high. Implied volatility across equities, bonds and currencies falling. US dollar weaker but currency moves modest overall
14th Aug 25, 7:51am
Positive tone for risk sensitive assets continues. MSCI world equity index reaches record high. Implied volatility across equities, bonds and currencies falling. US dollar weaker but currency moves modest overall
US CPI data were close to market expectations; of note the pass-through of tariffs into goods prices was less than expected. Market saw this as giving the Fed the green light to cut rates next month. RBA cuts as expected
13th Aug 25, 8:04am
US CPI data were close to market expectations; of note the pass-through of tariffs into goods prices was less than expected. Market saw this as giving the Fed the green light to cut rates next month. RBA cuts as expected
Little market reaction to the alarming direction of US policy after Trump's move to invoke an export tax on some of Nvidia and AMD's chip sales, as a quid pro quo for access to China
12th Aug 25, 7:46am
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Little market reaction to the alarming direction of US policy after Trump's move to invoke an export tax on some of Nvidia and AMD's chip sales, as a quid pro quo for access to China
Roger J Kerr says the probability of a jumbo 0.50% US interest rate cut in September will increase if upcoming economic data prints on the softer side - which he expects it to do
11th Aug 25, 8:51am
Roger J Kerr says the probability of a jumbo 0.50% US interest rate cut in September will increase if upcoming economic data prints on the softer side - which he expects it to do
Global bond yields closed higher despite limited economic data. Gold prices whipsaw on confusion about US tariffs on imports of gold bars. US equities extend recent gains
11th Aug 25, 7:25am
Global bond yields closed higher despite limited economic data. Gold prices whipsaw on confusion about US tariffs on imports of gold bars. US equities extend recent gains
Bloomberg reports Waller emerging as top candidate to replace Powell. Higher US tariffs kick in; Trump threatens 100% tariff on semiconductors, but carve-outs mean little impact for most. BofE votes 5-4 to cut rates
8th Aug 25, 7:56am
Bloomberg reports Waller emerging as top candidate to replace Powell. Higher US tariffs kick in; Trump threatens 100% tariff on semiconductors, but carve-outs mean little impact for most. BofE votes 5-4 to cut rates
Risk sentiment firm. S&P500 higher and has retraced the post services ISM fall. US hits India with extra 25% tariff for Russia oil purchases. Soft demand in US 10-year auction. Yields modestly higher
7th Aug 25, 7:52am
Risk sentiment firm. S&P500 higher and has retraced the post services ISM fall. US hits India with extra 25% tariff for Russia oil purchases. Soft demand in US 10-year auction. Yields modestly higher