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Markets An interview of BoE Governor Bailey in The Guardian changed (relative) prospects for UK yield markets and sterling. Until now, markets expected the BoE to keep a cautious approach on easing as (especially underlying) inflation proved sticky, raising doubts the BoE would be able to reach its 2.0% target in a sustainable way anytime […]

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26/09/2024

Short Term Elliott Wave Impulse in GBPJPY Favors Higher

Cycle from 8.5.2024 low in GBPJPY is in progress as a double three Elliott Wave structure. Up from 8.5.2024 low, wave (W) ended at 193.48 and pullback in wave (X) ended at 183.67. Internal subdivision of wave (X) unfolded as a zigzag. Down from wave (W), wave A ended at 187.23 and wave B ended […]
19/04/2024

USD/JPY Jumpy as Japan’s Core CPI Eases

The Japanese yen showed some promise earlier, gaining as much as 0.48% against the US dollar as it rose to 153.59. However, it has pared those gains and is trading in Europe at 154.58, down 0.04%. Japan’s core CPI falls to 2.6% Japan’s nationwide CPI, which excludes fresh food, rose 2.6% y/y in March, down […]
20/05/2024

Westpac New Zealand RBNZ Pulse Client Survey

Ahead of this week’s RBNZ policy meeting, our survey finds that offshore clients are more dovish than those onshore. Both groups are more dovish than the RBNZ. Market participants see an earlier start to RBNZ easing than RBNZ and Westpac forecasts. Survey participants are less dovish than market pricing. Offshore market participants are more dovish […]