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EU Central Bank Makes Back-to-back Interest Rate Cuts as Inflation Falls
EU Central Bank Makes Back-to-back Interest Rate Cuts as Inflation Falls
Going into 2025, observers expected the ECB to keep lowering interest rates at a steady pace with a string of cuts.
Owen Li
The US Consumer Fuels Further Dollar Gains
The US Consumer Fuels Further Dollar Gains
Strong US data fuelled further gains for the dollar yesterday as the ECB duly delivered back-to-back 25bp rate cuts. A quiet docket awaits today to close out the week.
Pepperstone
Strong Discretionary Spending Lifts US Retail Sales in September
Strong Discretionary Spending Lifts US Retail Sales in September
US retail sales increased solidly in September likely as lower gasoline prices gave consumers more money to spend at restaurants and bars, supporting the view that the economy maintained a strong growth pace in the third quarter.
Cohen
French Budget Packs Bigger Tax Punch than First Meets The Eye
French Budget Packs Bigger Tax Punch than First Meets The Eye
In France's highly fractured parliament, the government calculated that spending cuts would go down more smoothly than tax hikes, which Macron's party and Barnier's own conservatives are deeply uncomfortable with, Darmet added.
Justin
US Has 26m Strong ‘crypto Voting Bloc’ ahead of Elections — Survey
US Has 26m Strong ‘crypto Voting Bloc’ ahead of Elections — Survey
One in seven, or 16%, of respondents in a survey by The Digital Chamber said they'd vote for the most pro-crypto candidate.
Owen Li
Yield on Latest Singapore 1-year T-bill Tumbles to 2.71%
Yield on Latest Singapore 1-year T-bill Tumbles to 2.71%
Yields are likely to grind lower over the next few months as investors await further rate cuts by the US central bank.
Justin
Positive 2025 Consumer Spending Outlook for Malaysia, But High Household Debt Poses Risk — BMI
Positive 2025 Consumer Spending Outlook for Malaysia, But High Household Debt Poses Risk — BMI
Research firm BMI holds a positive outlook for consumer spending in Malaysia for 2025 although a recent trend of easing retail sales requires further monitoring.
Owen Li
Spot Gold Extends Its Record-breaking Run to Top US$2,700
Spot Gold Extends Its Record-breaking Run to Top US$2,700
Gold topped US$2,700 an ounce for the first time, as concerns over escalating conflicts in the Middle East saw investors flock to safety.
Cohen
USD/CAD Price Forecast: Tests 1.3800 to Return to the Ascending Channel
USD/CAD Price Forecast: Tests 1.3800 to Return to the Ascending Channel
The USD/CAD pair maintains its position on recent gains from the previous session, trading around 1.3800 during the Asian hours on Friday.
Owen Li
U.S. Sept Retail Sales: Growth Beats Expectations as Economy Continues to Expand
U.S. Sept Retail Sales: Growth Beats Expectations as Economy Continues to Expand
The U.S. Department of Commerce on Thursday reported that U.S. retail sales in September experienced a MoM increase of 0.4%, surpassing market expectations of 0.3%. This marks the third consecutive month of growth, reinforcing the perspective that the U.S. economy has maintained robust growth throughout most of the third quarter.
Census Bureau
ECB President Lagarde: Not Pre-commit to a Rate Path but Follow a Data-dependent Approach
ECB President Lagarde: Not Pre-commit to a Rate Path but Follow a Data-dependent Approach
Christine Lagarde, president of the European Central Bank President (ECB) said at a press conference on Thursday that economic activity has been somewhat weaker than expected. The latest data points to weaker growth and downside risks to growth. The disinflation process is well on track, but wage pressures remain strong. Inflation is expected to rise in the coming months before falling back to target levels next year.
ECB
GBP/USD Ticks Higher to 1.3025 Area on Softer USD, BoE Rate-cut Bets Cap Gains
GBP/USD Ticks Higher to 1.3025 Area on Softer USD, BoE Rate-cut Bets Cap Gains
The GBP/USD pair attracts some follow-through buying during the Asian session on Friday and looks to build on the overnight bounce from the 1.2975-1.2970 region, or a two-month low.
Alex
Silver Price Forecast: XAG/USD Holds Position Near $32.00 Due to Safe-have Flows
Silver Price Forecast: XAG/USD Holds Position Near $32.00 Due to Safe-have Flows
Silver price (XAG/USD) extends its winning streak for the fourth consecutive day, hovering around $32.00 per troy ounce during the Asian trading session on Friday.
Cohen
Up 33% YTD, Is It too Late to Buy Discover Financial Stock?
Up 33% YTD, Is It too Late to Buy Discover Financial Stock?
Discover stock should still have some decent upside in front of it, at least until the merger happens.
Justin
EUR/USD, USD/JPY: US Economic Exceptionalism Powering US Dollar Strength
EUR/USD, USD/JPY: US Economic Exceptionalism Powering US Dollar Strength
US economic exceptionalism continues to drive US bond yields higher, helping to fuel US dollar strength. With very little information out next week to question US economic resilience, traders should be alert for the risk of Federal Reserve officials attempting to guide market expectations on the outlook for US interest rates.
FOREX.com
Oil Steadies, But on Track for Biggest Weekly Loss in Over a Month
Oil Steadies, But on Track for Biggest Weekly Loss in Over a Month
Crude oil futures steadied on Friday after strong US retail sales data, but Chinese economic indicators remained mixed and prices were headed for their biggest weekly loss in more than a month on concerns about demand.
Owen Li
Global Market Quick Take: Asia – October 18, 2024
Global Market Quick Take: Asia – October 18, 2024
The Saxo Quick Take is a short, distilled opinion on financial markets with references to key news and events.
SAXO
WTI Inches Higher to Near $70.50 Following Drop in US Oil Stocks
WTI Inches Higher to Near $70.50 Following Drop in US Oil Stocks
West Texas Intermediate (WTI) Oil price extends its gains for the second consecutive day, trading around $70.40 per barrel during Asian hours on Friday.
Cohen
Japan’s Core Inflation Slows on Fuel Subsidies, Demand-driven Pressure Intact
Japan’s Core Inflation Slows on Fuel Subsidies, Demand-driven Pressure Intact
The slowdown from a 2.8% rise in August was due largely to the government’s rollout of temporary subsidies to curb gas and electricity bills, which will likely weigh on core inflation in the coming months.
Justin
ECB October Rate Decision: With Inflation Falling Faster, Cut Rates By 25 bps as Expected
ECB October Rate Decision: With Inflation Falling Faster, Cut Rates By 25 bps as Expected
The European Central Bank Governing Council today decided to lower the three key interest rates by 25 basis points. Accordingly, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be decreased to 3.25%, 3.40% and 3.65% respectively. Inflation is expected to rise in the coming months, before declining to target in the course of next year.
ECB
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