Thursday’s closing European market gains came following the European Central Bank’s revised inflation estimate, which restarted the 2024 surge. The pan-European Stoxx 600 broke above the crucial 500 threshold for the first time during the session, and it ended the day 1.05% higher at 503.45 points.The European Central Bank reduced …
Read More »Better than expected Chinese trade data boost NZD/USD
Better than expected Chinese trade data boost NZD/USD New Zealand Dollar rises over 0.65% after the release of much better than expected trade data from China; the country’s chief trading partner. The data indicates a probable increase in demand for New Zealand goods from mainland China. Charts are showing the …
Read More »Canadian dollar slides ahead of key labour data
The Canadian currency has a mixed day’s performance, but it gains since the US dollar is weakening. Due to lower US dollar flows earlier in the day, the USD/CAD pair dropped down below 1.3500. On Thursday, the Canadian dollar managed to gain some ground over its US counterpart. The USD/CAD …
Read More »Powell: Fed not far from cutting interest rates
Powell has indicated that interest rate cuts may not be too far off if inflation signals cooperate. Powell did not provide a precise timetable of when easing could happen, but noted that the day could be coming soon. Powell said the cuts would be so the Fed doesn’t drive the …
Read More »Powell stresses Fed’s intention to carefully remove QT
Federal Reserve Chairman Jerome Powell continues, on Thursday, his two-day testimony before the Senate Banking Committee. Powell stressed that quantitative easing will begin in 2024. He noted that removing restrictive stance of policy will begin over the course of this year.Key Quotes: “If the economy does as expected, we think …
Read More »ECB Press Conference: Lagarde speaks on outlook after leaving key rates unchanged
As Christine Lagarde, President of the European Central Bank (ECB), addresses the media regarding the ECB’s decision to maintain key interest rates unchanged in March, she emphasizes the rationale behind the decision and responds to queries from the press. Lagarde begins by outlining the ECB’s assessment of the current economic …
Read More »ECB leaves interest rate unchanged
The European Central Bank’s Governing Council has decided to maintain three key interest rates unchanged due to a decline in inflation since January’s last meeting. The latest projections show inflation to average 2.3% in 2024, 2.0% in 2025, and 1.9% in 2026, with inflation excluding energy and food also revised …
Read More »Currencies Overview: Dollar Weakens Amid Fed Rate Cut Speculation
The U.S. dollar saw downward pressure on Thursday as market anticipation of potential rate cuts by the Federal Reserve grew stronger. This sentiment prevailed as Fed Chair Jerome Powell commenced his two-day testimony before Congress, suggesting that rate cuts might be warranted later this year. Powell’s Testimony Drives Dollar Lower …
Read More »European stocks fell ahead of ECB interest rate decision
On Thursday, European shares experienced a decline as investors exercised caution ahead of the European Central Bank’s (ECB) interest rate decision. However, Virgin Money shares saw an upsurge following expressions of interest from Britain’s National Building Society regarding a potential acquisition. As of 0815 GMT, the European STOXX 600 index …
Read More »Japan’s Nikkei fell at the largest pace since the end of January
Japanese indices experienced a decline in trading on Thursday, March 7, driven by a downturn in chip-related stocks and a strengthening yen. The Nikkei index closed approximately 1.2% lower at 39,598 points, marking its largest decline since January 26, following a record high of 40,472 points, mirroring gains seen on …
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