BIS urges central banks to ‘get the job done’
LONDON, Feb 27 (Reuters) – Central banks need to “get the job done” when it comes to getting inflation back under control, the Bank for International Settlements has said, urging them to avoid the mistakes of the 1970’s by declaring victory too early.The BIS, dubbed the bank for central banks, said it was vital authorities […]
GBP/USD breaks to the upside, eyes 1.2050s
Share: GBP/USD rallies in the New York session ahead of Fed Powell. GBP/USD is the back side of the trendline resistance which is now expected to act as a counter-trendline with a focus on the upside. There are prospects of a move towards the 1.2050s with the 1.1990s eyed as support. GBP/USD is […]
GBP/USD bulls move in from the lows of a significant daily drop
Share: A busy week ahead for GBP/USD with domestic growth and central bank speakers. GBP/USD bulls are attempting to correct the US Dollar’s strength. On the daily chart, the 38.2% Fibonacci is around the psychological 1.2150 area. GBP/USD is flat on the day at 1.2025 so far as we enter the Tokyo session […]
Ready to do more on inflation if needed
Share: “British central bank was prepared to do more to get inflation back to target,” said Bank of England (BoE) Chief Economist Huw Pill on Monday per Reuters. The news also states that the BoE suggested last week that interest rates were approaching their peak. Key comments I do have a high degree […]
BoE Hikes by 50bps, GBP Pounded After Dovish MPC Report
POUND STERLING TALKING POINTS GBP on offer after BoE’s 50bps rate hike. Wording in MPC report less aggressive than prior releases. Pullback on GBP/USD on the cards. Recommended by Warren Venketas Get Your Free GBP Forecast GBP FUNDAMENTAL BACKDROP Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from […]
Crucial Takeaways from the FED, BoE and ECB
Major Central Bank Roundup and Analysis Fed: The Fed still has questions around softer inflation but markets call its bluff Bank of England hints at a rate pause but keeps the door open to further hikes if required A unified ECB calls for multiple 50 bps hikes after this one as core inflation refuses to […]
GBP/USD finds a cushion around 1.2200, downside seems favored as spotlight shifts to US NFP
GBP/USD has attempted to build a cushion around 1.2200 after a perpendicular sell-off. Investors are dumping the risk-perceived assets as anxiety among investors is soaring ahead of the US NFP data. The BoE might continue hiking interest rates as UK inflation is extremely stubborn. The GBP/USD pair has sensed a pause in its vertical downside […]
Market Spotlight: Downside GBP Risks into BOE Today
BOE Up NextThe Bank of England meeting today will be pivotal for GBP. Concerns over the UK economy have become a prominent issue in recent months with widening industrial action, ongoing Brexit-related difficulties, covid disruptions and political instability all exerting downward pressure on GBP. The BOE’s tightening operations have added to the pressure for UK […]
Crude Oil Price Under the Pump in the Face of Fed, ECB and BoE Hikes. Lower WTI?
Crude Oil, US Dollar, WTI, Brent, FOMC, Fed, BoE, ECB. OPEC+ China – Talking Points Crude oil prices have found some support after a tumultuous week The Fed, BoE and ECB tightening has raised recession concerns OPEC+ maintain its target while China resurfaces. Where to for WTI? Recommended by Daniel McCarthy Get Your Free Oil […]
Downside risks dominate in Sterling – Commerzbank
Everything is pointing towards tough times in the UK. Therefore, economists at Commerzbank expect Sterling to remain under pressure. Not much upside for Sterling “Little has changed about Sterling’s fundamental environment. The economic situation remains dire, inflation risks high and the BoE intent on navigating these troubled waters.” “We consider the likelihood of the BoE […]