Monthly Archives: June 2024
Japanese Yen Hammers By Soft CPI
Written on June 26, 2024 at 6:22 am, by
Market Summary The spotlight was on the Pound Sterling following the Bank of England’s (BoE) interest rate decision announced yesterday. Despite the UK’s Consumer Price Index (CPI) reaching the targeted rate of 2%, the BoE voted 7-2 to maintain its interest rate unchanged, providing buoyancy for the Pound Sterling. However, the BoE Governor emphasised aContinue Reading
Focus On Today’s BoE Interest Rate Decision
Written on June 26, 2024 at 6:21 am, by
Market Summary The financial market remained relatively quiet as the U.S. celebrated its National Independence Day holiday yesterday, resulting in a halt for the U.S. equity market. However, the equity market futures remained bullish, catalysed by the tech sector. Attention now turns to the Pound Sterling as the Bank of England’s (BoE) interest rate decisionContinue Reading
Pound Sterling Steady Ahead of UK CPI
Written on June 26, 2024 at 6:21 am, by
Market Summary The dollar index (DXY) slid further after U.S. Retail Sales figures came in below market expectations, triggering a technical correction for the dollar. U.S. policymakers have emphasised the need for patience on rate cuts, citing the necessity for more evidence to prove that inflation is cooling. The risk-on sentiment has also buoyed theContinue Reading
