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US Dollar is Offered and China's Politburo Promises more Monetary and Fiscal Support
The dollar is offered. Neither the 227k rise in nonfarm payrolls, nor the above 3% Q4 growth that the Atlanta Fed sees the economy tracking, or the uptick in November CPI expected to be reported on Wednesday has been sufficient to dampen speculation of a rate cut next week. The futures market has a nearly 88% chance discounted. The antipodean currencies and Scandis are leading the move, ostensibly encouraged by the pro-growth signals from China's Politburo. The yen is the laggard. A speech now planned for mid-January by a deputy governor of the BOJ that could be used to flag a rate hike has seen speculation of a hike ... (full story)
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From dailyforex.com|Dec 9, 2024|1 commentThe euro initially rallied during the trading session on Friday, only to turn around and show signs of weakness. What I find interesting about this chart is that we could not hang ...
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From bankofengland.co.uk|Dec 9, 2024Good afternoon, thank you to OMFIF for the invitation to speak to you today, it’s a pleasure to be here. The end of the year is always a natural time for reflection. This time last year I gave a speech on banking resolution, looking back over a year influenced by the failures of Silicon Valley Bank and Credit Suisse.1 And a year before that I reflected on the significant shocks that had struck the UK economy in 2022. 2 So, at the end of 2024, I’d like to take stock again, surveying the landscape of the UK’s financial system. And I will do so from my perspective as the Bank’s Deputy Governor with executive responsibilities for our balance sheet operations and as a member of the Bank’s Financial Policy Committee (FPC) and Prudential Regulation Committee (PRC). Approaching financial stability r post: BOE'S RAMSDEN: GILT MARKETS CONTINUE TO FUNCTION IN AN ORDERLY WAY post: BOE'S RAMSDEN: THERE IS NO ROOM FOR COMPLACENCY ON STABILITY.
