Sterling continues to underperform today, though losses remain contained. The lack of aggressive selling suggests markets are already well positioned for near-term policy easing and are now grappling with uncertainty further along the curve rather than reacting to fresh surprises. This week’s string of weaker UK employment data has erased any remaining doubt over a […]
Sterling weakened further today after UK inflation data surprised further to the downside, reinforcing expectations that price pressures are easing faster than previously thought. The softer CPI print extended losses in Sterling following a weak run of domestic data this week. After inflation peaked at a lower-than-expected 3.8% earlier in the year, disinflation trend now
Japan posted a merchandise trade surplus of 322.2 billion yen in November, the Ministry of Finance said on Wednesday. That beat forecasts for a surplus of 71.2 billion yen following the 226.1 billion yen shortfall in October. Exports were up 6.1 percent on year at 9.714trillion yen, topping forecasts for 4.8 percent and up from
Dollar came under broad pressure in early US trade after delayed employment data confirmed a deeper-than-expected loss of momentum in the labor market. The October payrolls collapse was the key shock. A steep contraction marked the third negative print in six months, a development that few had anticipated. To compound the damage, both August and
Sterling is steady in early European trading after UK labor data reinforced a familiar theme of softening employment alongside stubborn wage pressures. Job losses continued, while pay growth remained elevated. The data is unlikely to derail the BoE’s widely expected 25bps rate cut to 3.75% later this week. While markets remain comfortable with the view
Japan’s composite index continued to expand in December, albeit at a slower pace, the latest survey from S&P Global revealed on Tuesday with a composite PMI score of 51.5. That’s down from 52.0 in November, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. The survey also showed that the
Canadian Dollar is little changed in early US trade, reflecting a broadly balanced market backdrop. The latest inflation figures offered reassurance rather than surprise, keeping the Loonie anchored as investors focus on broader risk and geopolitical developments. Canada’s CPI remained steady at 2.2% close to BoC’s 2% target. The absence of renewed price acceleration is
Yen rallied broadly during the Asian session as weaker-than-expected Chinese data undermined regional risk sentiment. Retail sales disappointed sharply, reinforcing doubts about the strength of China’s domestic recovery and prompting a defensive tilt across FX markets. Hopes that poor data would trigger fresh stimulus from Beijing failed to gain traction. Instead, markets appear increasingly focused
Japan’s industrial production expanded more than initially estimated in October, final data from the Ministry of Economy, Trade and Industry showed on Friday. Industrial production climbed 1.5 percent monthly in October, slower than the 2.6 percent recovery in September. In the initial estimate, industrial output showed an increase of 1.4 percent. Shipments grew 1.7 percent
Producer prices in Japan were up 0.3 percent on month in November, the Bank of Japan said on Monday. That was in line with expectations and down from the upwardly revised 0.5 percent in October (originally 0.4 percent). On a yearly basis, producer prices were up 2.7 percent – matching expectations and unchanged from the
Currency market dynamics have not shifted meaningfully as the session progresses, with the day’s relative performance table largely intact. Aussie remains firmly at the top, supported by the RBA’s hawkish hold earlier today. Governor Michele Bullock effectively shut the door on further easing and made clear that the next move could be a hike if
Global markets adopted a more cautious tone today, with Asian equities drifting lower after Wall Street’s soft session. The price action reflects hesitation rather than fear, with most investors choosing not to commit ahead of tomorrow’s critical FOMC outcome. Talk has intensified that the Fed could deliver what many are calling a “hawkish cut.” A
European markets are treading water today, and the same pattern is visible in US futures as investors hold their positions ahead of Wednesday’s FOMC decision. With volatility expected to rise sharply mid-week, traders appear content to let the market consolidate and avoid premature positioning. Even in this holding pattern, pockets of activity stand out—most notably
Dollar weakened mildly in Asian trading as the new week began, but the move lacked conviction, with most major pairs still confined to familiar ranges. With a light data calendar on tap today and little in the way of market-moving headlines, early-session flows were cautious. Eurozone Sentix Investor Confidence is the only notable release in
Overall bank lending in Japan was up 4.2 percent on year in November, the Bank of Japan said on Monday – coming in at 652.547 trillion yen. That exceeded expectations for an increase of 4.0 percent and was up from 4.1 percent in October. Excluding trusts, lending was up 4.5 percent at 573.647 trillion yen
Canadian Dollar climbed sharply after a blockbuster November jobs report, which easily surpassed expectations and reinforced the view that the BoC will leave policy unchanged next week. The strength of the data has effectively shut the door on the prospect of another near-term rate cut. The BoC has already delivered 275bps of easing—one of the
Japan remains the center of attention in an otherwise quiet Asian session, with traders focused on the relentless climb in JGB yields. The 10-year benchmark surged to a fresh 18-year high today and appears poised to challenge the psychological 2% handle soon, an escalation that is increasingly difficult for global markets to ignore. Much of
