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BOE’s Bailey: Inflation is still too high

November 2, 2023

We will keep rates high enough for long enough to return inflation to target OFGEM price cap means we can be confident about energy bills …

BOE leaves bank rate unchanged at 5.25% as expected

November 2, 2023

Prior 5.25% Bank rate vote 3-6 vs 3-6 expected (Greene, Haskel, Mann voted to raise by 25 bps) Policy likely needs to be restrictive for …

Sentiment

Germany 40 IG Client Sentiment: Our data shows traders are now net-short Germany 40 for the first time since Oct 16, 2023 when Germany 40 traded near 15,241.50.

November 2, 2023

Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Germany 40-bullish contrarian …

Sentiment

France 40 IG Client Sentiment: Our data shows traders are now net-short France 40 for the first time since Oct 12, 2023 when France 40 traded near 7,081.90.

November 2, 2023

Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger France 40-bullish contrarian …

ECB’s Knot: Policy rates now are at a good ‘cruising altitude’

November 2, 2023

Current level of rates can remain for some time Should be a little patient and not raise rates too much to prevent choking off the …

BOJ’s main message is to maintain easy policy, even if their actions contradict – report

November 2, 2023

The report says that the BOJ is to continue a gradual exit from its ultra-loose monetary policy and may look to step up its plans …

BOE the main event on the agenda in the session ahead

November 2, 2023

Both the dollar and Treasury sellers look like they’re in to be squeezed right now, after a turn in the bond market yesterday. 10-year yields …

Technical Analysis

USDJPY bounces off the 200 hour MA. Key support stalls the fall.

November 2, 2023

The USDJPY fell sharply but after breaking below its 100-hour moving average at 150.283 and the 50% midpoint of the move up from Monday’s low …

Technical Analysis

AUDUSD helped by yield spread

November 2, 2023

The AUDUSD is trading at session highs and trading up 0.70% on the day. The gain is only behind the NZDUSD which has moved up …

PBOC sets USD/ CNY reference rate for today at 7.1797

November 2, 2023

The People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead. USD/CNY is the onshore yuan. Its permitted to …

Technical Analysis

USD moves lower and takes the early lead as the weakest currency

November 2, 2023

It is early in the day, but the USD is moving lower versus all the major currency pairs. The declines are the most versus the …