Last week we had the results of the latest European Elections and it delivered. The Euro was the worst performer of the week as President Macron chose to call a snap election on the shortest timetable allowable…
The post Euro Elections Prove to Be Troublesome first appeared on trademakers.

Last week we saw the first of potentially more rate cuts as both the BoC and ECB cut rates by 25bps. I know our reports have been looking at rate cuts being pushed deeper and deeper into 2024 and the NFP number last week seemed to continue its signal of higher for longer.
The post Rate Cuts Begin first appeared on trademakers.

Last week the markets were muted despite inflationary data remaining stubbornly high. AUD and NZD were the winners following strong numbers but the real risk off sentiment for the week muted any major moves.
The post Risk of sentiment mutes any positive moves first appeared on trademakers.

Last week the markets were influenced by impending rate cuts or lack of. GBP regained the 1.27 level as any imminent rate cuts seem to have been pushed back from June to the earliest August. This was substantiated by the most recent inflationary numbers coupled with the unexpected election in July.
The post Rate Cuts Looking Deferred first appeared on trademakers.

Last week we saw a return to a risk-on environment. The US Inflation report muted any calls for US interest rates to move higher leading to an equity rally and risk-on currency move.
The post Risk-on continues its trend first appeared on trademakers.

Last week was a far more subdued week as market eyes were elsewhere. Global markets rallied pushing stocks to new highs in Europe and US markets posting substantial gains.
The post Currencies More Subdued (Apart from Yen) first appeared on trademakers.

Last week we saw a reversal of the dollar strength which saw once again market expectations of 2 or more rate cuts in 2024 back on the table. With disappointing job numbers and a less hawkish than expected Powel the dollar tumbled away its gains and stock markets were buoyed.
The post BoJ Intervenes to Shore Up Yen first appeared on trademakers.

Last week we saw the expected de-escalation in the Iran – Israel war and a risk on rally ensued. The Yen had sharp sell off. Firstly, the BoJ kept rates unchanged, and a dovish tone then compounded the fall closing the week through 158.
The post Yen Collapse; FOMC in Focus first appeared on trademakers.