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NZD/USD turns lower as the RBNZ hold rates once more
NZD/USD's break above 60c ahead of the RBNZ's announced that they held rates at 5.5% again was shortly lived, and momentum has turned decisively lower. Ans there could be further downside to come.
AUD/USD, ASX 200 headwinds to persist with ‘higher for longer’ Fed rates: Asian Open
At the most basic level the Fed delivered what was expected; another policy pause with the potential for further hikes. The opening paragraph tipped noted an economy which is “expanding at a solid pace” with a slower but “strong” job growth and elevated inflation. There’s nothing remotely dovish there. And then we look at the numbers…
US Dollar Analysis: Fed's Hawkish Hike Boosts Buck
The US dollar rises as the Fed still expects another rate hike and only two rate cuts next year
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EUR/USD implied volatility blows out ahead of ECB, US data: European open
With an ECB interest rate decision and three US data points sandwiched in between, we could be in for an interest hour's trade on EUR/USD. And that likely explains why the 1-day implied volatility band is more than twice its 20-day average.
The RBNZ hold rates, AUD/USD breaks out ahead of US CPI
The RBNZ held their cash rate steady for the first time following 12 consecutive hikes, whilst AUD/USD broke above its 200-day MA ahead of a key US inflation report.
AUD/USD, USD/CAD analysis: CPI reports for AUD and CAD traders in focus
Key inflation reports for Canada and Australia will be released over the next 24 hours which could have a direct impact on interest rate decisions for the BOC and RBA.
The Week Ahead: US Inflation, FOMC, ECB and BOJ meetings in focus
Three mighty central banks release their monetary policy decisions next week, starting with the FOMC meeting on Wednesday. But Tuesday’s inflation report could also carry some clout as it has the potential to move the needle between an anticipated pause to an undesired hike if it surprises too much to the upside.
AUD/USD Analysis: Are the RBA on track for another hike?
A hot inflation report and hefty wage increase for minimum-wage earners has seen a rise in bets the RBA could hike at tomorrow’s meeting.
Currencies tread water ahead of Jerome Powell speech
The USD pulled back yet mostly held on to its post-NFP gains in anticipation of a hawkish speech from Jerome Powell this evening.
Another 25bp hawkish hike from the RBA
The RBA hiked the overnight cash rate by 25bp to 3.35% - its highest level since September 2012 – and warned of further increases in the months ahead.
The RBA are expected to hike by 25bp tomorrow
Whilst money markets favour a 25bp hike tomorrow, we shouldn’t discount the potential for a 15bp or even a 50bp hike.
EUR/GBP probes YTD high ahead of BOE and ECB meetings
With the Fed having delivered their 25bp yesterday, it is now over to the BOE and ECB today who are expected to hike by 100bp between them.
Fed fund pricing calls bulldust on Fed hike(s)
Whilst the Fed effectively confirmed two more 25bp hikes to are to follow, Fed fund futures remain unconvinced and are pricing in a single hike to take rates to 5%.
Market pricing and economists favour a 25bp hike from the BOC tomorrow
Market pricing and the consensus among economists firmly points towards a 25bp hike from the BOC tomorrow.
Not for the first time, the BOJ spite the hype
There were high expectations from the BOJ at today’s meeting, yet what they delivered was a nothing burger. That is classic BOJ!
The yen is aggressively stronger following the BOJ’s YCC announcement
A sleepy session in Asia has been rudely awoken from is lull on the news that the BOJ will review their YCC (yield curve control), sending the Japanese yen sharply higher across the board.
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Mexico CPI lower, however Core CPI still on the rise
Will the stronger Core CPI cause the Bank of Mexico to hike rates by another 75bps when it meets next Thursday?
The consensus is for the RBA to hike by 25bp tomorrow
Whilst the potential for a pause cannot be ignored, I suspect the RBA are more likely to hike rates by 25bp tomorrow as they do not meet again until February.
RBNZ deliver a hawkish 75bp hike, FOMC minutes up next
As if 75bp was not enough, the RBNZ came out swinging by increasing their terminal rate much higher than we anticipated.
The RBA's 25 vs 50bp hike debate is no longer ‘finely balanced’
The RBA’s November minutes lean towards 25bp hike/s with a pause along the way, with a 50bp hike likely requiring higher inflation expectations and wages.
Bank of Mexico hikes rates by 75bps, as expected. USD/MXN at lowest level since March 2020.
The Bank of Mexico stuck to the script and hiked rates by the same amount as the US Federal Reserve, 75bps, to bring its overnight rate to 10%.
Will the RBA repeat with a 25bp hike tomorrow?
The RBA are set to hold their November meeting tomorrow at 14:30 AEDT and, whilst the consensus is for a 25bp hike, it doesn’t mean they won’t do a 50bp one instead.