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
At 12:30 GMT, Statistics Canada revealed that inflation in Canada had decreased more than expected. The news caused a decline of the Canadian Dollar, as it signals that the Bank of Canada is managing in its fight against inflation and it could reduce its monetary tightening plans. The market consensus was that inflation in Canada had decreased by 0.1%.
The United States have published their monthly employment data for August. US Average Hourly Earnings on a month-on-month basis have increased by 0.3%, compared to forecast 0.4%. Non-farm Employment Change has beat the forecast, as 315,000 new jobs have been crated instead of 295,000. Meanwhile, the official Unemployment Rate is at 3.7% and not the forecast 3.5%. The market took in
At 14:00 GMT, the US Dollar strengthened against peer currencies and other assets. The surge occurred due to the better than expected US Institute for Supply Management Purchasing Managers Index survey results. The index beat the market expectations of 52.1 by being revealed to be 52.8. The better results indicate that the US Federal Reserve can continue to tighten
This morning, at 09:00 GMT, the higher than expected Euro Zone Consumer Price Index Estimate caused a reversal of an ongoing decline of the Euro against peer currencies. The markets took in high inflation as a reason for the European Central Bank to be more hawkish and reduce the supply of the Euro more than previously planned. Euro are CPI came
At 12:30 GMT, the US Dollar surged against all other assets and currencies. The surge was caused by the better than forecast US monthly employment data. In July, US Average Hourly Earnings month on month increased by 0.5% instead of 0.3%. Non-farm Employment Change showed a growth of 528,000, compared to forecast 250,000. Meanwhile, the US Unemployment Rate is at
At 12:00 GMT on August 4, the Bank of England hiked its Official Bank rate by 0.50% from 1.25% up to 1.75%. In addition, the central bank has published its Monetary Policy Summary. The Pound lost value due to the details of the monetary policy summary. Namely, one of the committee members did not vote for the 0.50% rate hike. Instead,