FX Report: October 6
posted: Tuesday October 7th - 10:24am
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FX Report
The G8 annual summit in Japan takes place at the beginning of this week, the first for Prime Minister Gordon Brown, Russian President Medvedev and Japanese Prime Minister Yasuo Fukuda, but the last for US President Bush. Key themes for discussion include the global economy (rising oil prices and financial market stability), environmental issues, African development and global food security.
posted: Monday July 7th - 11:35am
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FX Report
Last week’s comments by Fed Chairman Bernanke and ECB President Trichet confirmed their focus on price instability as among the key issues in their respective economies. This has increased the perception that the ECB will raise official rates over the next few months and that the Fed will hold at 2%. In the UK, producer price data due on Monday and the BoE Quarterly Inflation expectations survey published on Thursday, will strengthen the view that accelerating inflation is also a huge risk to economic stability in the UK.
posted: Monday June 9th - 7:10am
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FX Report
The event of the week will be the US retail sales report and even though logically, consumer spending should falter, it may not be as bad as the market expects. In addition to the retail sales report, we are also expecting consumer prices, the Philly Fed survey, industrial production, and housing starts.
posted: Monday May 12th - 8:31am
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FX Report
Developments in credit markets are likely to remain the main influence on financial markets this week, with first quarter corporate earnings and trading statements again a key theme. There is also the possibility that the UK Treasury may announce new measures to help ease the funding strains facing banks. Another strong performance by equities could see bond prices fall further, pushing yields and swap rates to fresh 2008 highs.
posted: Monday April 21st - 4:31am
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FX Report
This week sees interest rate meetings with 3 central banks. I believe the BoE will cut rates by 25bp to 5% although the news from the UK economy has been mixed since the March MPC meeting, the continuing widening in interbank interest rate spreads has increased the pressure on the MPC to act sooner rather than later. In contrast the ECB should hold rates at 4% and the Japanese central bank at 0.5%.
posted: Monday April 7th - 7:47am
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FX Report
A busy U.S. calendar will be dominated by the March employment report and the testimony to Congress by Fed Chairman Ben Bernanke.
posted: Monday March 31st - 9:41am
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FX Report
The Fed cut the discount rate by 25bp overnight in the latest emergency reaction to "bolster market liquidity and promote orderly market functioning." The reduction takes the discount rate to 3.25% and reduces the spread over the fed funds rate to just 25bp. The move is likely to be followed by an aggressive reduction in the fed funds rate itself on Tuesday as the Fed tries to support economic activity.
posted: Monday March 17th - 10:36am
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FX Report
The Dollar continued to be in deep trouble as we start another week which should see further record lows for the U.S. currency against the Euro and other major currencies.
posted: Tuesday March 11th - 10:18am
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FX Report
Financial markets this week will be focused on a series of interest-rate meetings around the globe which are likely to have different outcomes. However, attention will not venture too far from the US, reflecting continuing concerns about credit markets and a key week for economic data.
posted: Monday March 3rd - 12:47pm
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FX Report
posted: Monday February 25th - 11:02am
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FX Report
On a day where there is no economic data released and the U.S. markets are closed for Presidents Day then it looks like being a subdued trading session.
posted: Monday February 18th - 8:14am
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Report for 11 February
A deluge of economic data and the BoE Inflation Report could be influential this week as markets weigh up the extent and timing of the next cut in UK base rates. The US calendar will be dominated by January retail sales figures, due on Wednesday, and Fed chairman Bernanke’s semi-annual testimony to Congress on Thursday. Preliminary releases of Q4 GDP and two speaking events featuring ECB president Trichet will be the highlight in the euro zone as markets examine the strength of incoming data in the light of the ECB’s more downbeat comments last week on the outlook for 2008 GDP growth.
posted: Monday February 11th - 7:37am
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Report for Feb 4
The Bank of England is widely expected to cut interest rates by 0.25 percent to 5.25 percent this week, with any other outcome likely to lead to significant negative financial market reaction. The main challenge facing the ECB this week is again likely to be that of managing expectations and the US will also remain in sharp focus this week, with a host of Fed speakers and markets still reacting to the surprise news of the first fall in non-farm payrolls since 2003 last Friday. The political agenda will be dominated by the 'Super Tuesday' primaries election.
posted: Monday February 4th - 8:00am
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FX Report
Financial markets could experience another roller coaster ride this week, with a barrage of key data and events due in the US and amid palpable unease surrounding credit markets.
posted: Monday January 28th - 9:02am
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