The latest forex news from around the globe.
EURUSD: German economy contracted by 0.1% in the second quarter of 2024
GBPUSD: UK Inflation returns to the 2% BOE goal, for the first time in three years
AUDUSD: RBA kept the Official Cash Rate (OCR) unchanged at 4.35%, as per expections
FOMC policy decision is the main event on the market today
EURUSD: Moody’s: “Snap election increases risks to fiscal consolidation, a credit negative “
GBPUSD: UK Unemployment Rate rises to 4.4% in April above the expectations of 4.3%
USDJPY: Japan Leading Economic Index came in at 112.2, topping the forecasts of 111.4 in March
5-26-2024
EURUSD ECB’s Centeno: The Nearing Of The Inflation Rate To 2% Is Real
GBPUSD trades at 1.2548 after the UK March ILO unemployment rate came at 4.3% inline with expectations. BoE rate cut expectations unchanged after the data
EURUSD: Germany Consumer Price Index CPI came in at 0.5% (MoM) in line with forecasts in April. Previous reading was at 0.4%
GBPUSD: United Kingdom Gross Domestic Product (MoM) came at 0.4% beating the expectations of 0.1% in March
BoE’s Bailey: Likely We Will Need To Cut Bank Rate Over The Coming Quarters
GBPUSD: Bank of England keeps interest rates unchanged at 5.25%
EURUSD: Germany Exports came in at 0.9%, beating the expectations of 0.4% in March
AUDUSD: RBA leaves interest rate unchanged at 4.35%, matching the expections
Germany Composite PMI came in at 50.6, topping the expectations of 50.5 in April
EURUSD: Eurozone Services PMI came at 53.3 topping the expectations of 52.9 in April
5-5-2024
US FED FUNDS futures raise chances of rate cut in September to 78% after the NFP data vs 63% before
EURUSD: US April Nonfarm Payrolls rise +175K; below the Consensus of +240K
AUDUSD: Rabobank now expects RBA hikes in August and November, no cuts in 2024 or 2025
China Caixin Manufacturing PMI came in at 51.4 topping the expectations of 51 in April
France Gross Domestic Product came in at 0.2% above the expectations of 0.1% in 1Q
USDJPY drops to 156 after the BoJ keeps Interest Rate at 0%, below the expectations of 0.1%
Eurozone Preliminary Manufacturing PMI drops to 45.6 in April below the expectations of 46.5
UK Preliminary Services PMI jumps to 54.9 in April beating the estimates of 53.0
UK Retail Sales came in at 0% MoM in March below the expectations of 0.3%. Forex
Germany Producer Price Index (MoM) came in at 0.2% in March topping forecasts of 0%
ECB’S DE GUINDOS: Inflation has fallen further this year and is expected to continue declining in the medium term but at a slower pace
Nomura: Overall, we maintain a relatively positive bias on GBP vs. EUR. Bank of England to only cut twice in 2024 vs. ECB‘s three cuts as UK core inflation is picking up
GBPUSD trades above 1.2450 after UK inflation came in higher than expected in March
USD hit a fresh five-month high yesterday as Treasury yields spiked after the Fed signaled is in no rush to cut interest rates
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