GBPNZD: Head and Shoulders

Summary United States: Recalibrating the Monetary Policy Stance The commencement of monetary policy easing comes at a time when overall economic growth remains solid, supported by stronger-than-expected retail sales, industrial production and residential construction in August. Yet, signs of labor market weakness have posed meaningful threats to the sustainability of growth, which underpinned the FOMC’s […]

Markets ECB’s Schnabel triggered some unexpected market action yesterday. The German board member lived up to her hawkish reputation by noting that talk about rate cuts is premature. That’s more so because the recent decline in bond yields, exactly because of rate cut expectations, have loosened financial conditions more than thought. Combined with sentiment indicators […]

Sentiment was slightly better and the dollar was slightly lower on Tuesday on the back of a softer-than-expected PPI report from the US and on news that Donald Trump’s America First team would only ‘gradually’ increase tariffs on the rest of the world – if that’s any comfort. Diving deeper, the US core PPI unexpectedly […]