The European Central Bank has just increased its Main Refinancing Rate from 2.50% up to 3.00%. In addition, the central bank has published its Monetary Policy Statement. Note that the management of the ECB is set to host a Press Conference at 13:45 GMT. The journalist question and answer section usually create major Euro volatility.
The Bank of England has increased its Official Bank Rate from 3.50% up to 4.00%. The members of the Monetary Policy Committee voted as follows. Seven cast votes for a rate hike and two voted for keeping rates unchanged. In addition, the bank has published its Monetary Policy Summary and Monetary Policy Report. The increase and voting numbers were expected
At 13:30 GMT, the Canadian GDP was revealed to have increased by 0.1% on a month on month basis. The news caused a surge of the Canadian Dollar against other currencies. As a result, the decline of the USD/CAD spilled over into a broader decline of the US Dollar index.
The United States Bureau of Labour statistics has just now released the latest Consumer Price Index data. The data reveals how the US inflation has changed during the last month. The release consisted of month-on-month, year-on-year and core month-on-month inflation. Monthly inflation was expected to have changed by -0.1%. Annual inflation rate was forecast to be at 6.5%. The
The European Central Bank has just now hiked its Main Refinancing Rate and has published its Monetary Policy Statement. The base interest rate has been hiked from 2.00% up to 2.50%. Afterwards, at 13:45 GMT, the President of the bank Christine Lagarde revealed that the central bank expects inflation to remain persistent and rates should remain higher. Due to the
The Bank of England has hiked its Official Bank Rate by 0.50%. The official rate has been increased from 3.00% up to 3.50%. The increase was expected and priced in. Meanwhile, the way how the central bank policymakers voted has caused a decline of the Pound. Namely, the committee was expected to vote unanimously for the hike, but two
The Swiss National Bank has hiked the CHF base interest rate from 0.50% up to 1.00%. The event has caused a decline of the Swiss Franc's value. The USD/CHF surged 45 base points or 0.48% on the event and remains near the 0.9300 mark.
The United States Federal Reserve has just hiked its Federal Funds Rate by 0.50%. The market consensus forecast was a 0.50% hike, which has brought the rate from 4.00% up to 4.50%. The initial rate hike caused a surge of the US Dollar, drop of the equity markets and surge of peer currencies. The event was followed by the press conference
The US monthly Consumer Price Inflation has increased by 0.1% instead of the forecast 0.3%. Year-on-year inflation is at 7.1%, compared to forecast 7.3%. Meanwhile, core CPI month-on-month is at 0.2% instead of 0.3%. The markets reacted to the news with an immediate spike up, as US 500 index hit the 4,140.00 mark.
On a month-on-month basis the United Kingdom gross domestic product has increased by 0.5%, instead of the market consensus forecast of 0.4%. The higher than forecast GDP revealed that the Bank of England has room for interest rate hikes. Due to that reason, the Pound surged against peer currencies. The GBP/USD surged nearly 34 base points or 0.27%.
The United States monthly employment data has been revealed to be better than expected. The news have caused a surge of the US Dollar, which can be observed across all of the financial markets. The Average Hourly Earnings beat the forecast of 0.3% by being at 0.6%. The Non-Farm Employment Change revealed that 263,000 new jobs have been created instead
The publication of the Core PCE Price Index at 13:30 GMT, has caused a decline of the US Dollar, which is boosting the financial markets and peer currencies The Core PCE Price Index is the main measure that the US Federal Reserve has admitted to be using to in determining its policy. The inflation index revealed that price had increased on
The release of the worse than expected US Unemployment Claims and Purchasing Managers Indices caused a decline of the US Dollar during the second part of Wednesday's trading. The worse than expected data signalled to the markets that the Federal Reserve might not hike US interest rates as steeply, as previously thought. Namely, the borrowing costs and with it
All of financial markets are reacting to the just announced US Federal Reserve Federal Funds Rate. The US base interest rate is the main tool of the US monetary policy makers in their efforts to either increase or decrease the value of the US Dollar and, with it, to fight inflation. The markets expected the US Fed to hike the
Despite the massive depreciation of the Japanese Yen and currency interventions done by the Bank of Japan, the central bank has recently announced that it would stick to its monetary easing policy. The central bank has kept its short term interest rate target at -0.1% and pledged to keep the 10-year bond yield near 0.0%. Moreover, the policymakers stated
The US quarterly Advance Gross Domestic Product data has been published. The US economy has grown 2.6% instead of the market expected 2.3% growth. Moreover, the previous -0.9% decline has been revised up to -0.6%. The markets reacted to the news with a broad US Dollar decline, stock surge and treasury yield decline. The data indicates that the Federal Reserve
The European Central Bank just hiked its base interest rate by 0.75% up from 1.25% to 2.00%. The markets expected the 0.75% hike and it was assumed to be priced in. However, on the announcement the Euro declined in value, which was attributed to the fact that some market participants expected a 1.00% rate increase.
At 14:00 GMT, the Bank of Canada announced its latest Overnight Rate hike. The central bank increased its base interest rate by 0.50% instead of the market expected 0.75%. The event resulted in an immediate drop of the value of the Canadian Dollar, as the markets had priced in a 0.75% hike. The USD/CAD currency pair reacted to the news
The Pound's value was steadily declining on October 19 morning, as at 06:00 GMT the UK Consumer Price Inflation data was published. It was revealed that year-on-year basis inflation in September in the United Kingdom had reached 10.10%. The markets expected inflation to be at 10.00%. The GBP/USD reacted to the news with a 33 base point or 0.29%
At 12:30 GMT, US Consumer Price Inflation data was revealed to be higher than expected. The US Dollar reacted to the news with a spike upwards. Commodity prices, stock market indices and peer currencies declined compared to the Dollar. US CPI month on month increased by 0.4% instead of the expected 0.2%. Meanwhile, annual inflation has reached 8.2% instead of
The Governor of Banque de France Francois Villeroy de Galhau, who is a policymaker at the European Central Bank, has just stated that the ECB would raise rates until core inflation declines. The governor stated that the 4.8% core inflation in the Euro Zone was too high and too broad. The statement of the central banker caused a surge of
On Monday, at 14:00 GMT, the US Institute for Supply Management Purchasing Managers Index for the Manufacturing sector was published. The survey results came in at 50.9, compared to the market forecast 52.5. The new of lower than expected conditions in the industry caused a broad sell off of the US Dollar. The Dollar index lost 59 points or
At 11:00 GMT, the Bank of England voted to hike interest rates by additional 0.50%, as it was expected by the markets. Moreover, the markets expected the decision to be unanimous. The committee voted exactly that way, as all nine members voted for a 0.50% hike. The GBP/USD reacted to the news with a spike downwards of 79 base points or
On September 21, the United States Federal Reserve hiked the Federal Funds Rate by 0.75%. The market consensus was that the US Federal Reserve would hike its base interest rate from 2.50% up to 3.25%. At exactly 18:00 GMT the rate was hiked as expected by 0.75%. By inspecting the statement and comparing it to the previous one, it was discovered