While delivering the Spring Budget, UK Chancellor of the Exchequer Rachel Reeves noted that they will bring forward 3.25 billion Sterling of investment to reform public services, per Reuters.
The UK's Office for Budget Responsibility (OBR) said on Wednesday that the UK's long-term fiscal outlook remains very challenging amid the uncertainty surrounding the full impact of changes to welfare policies, per Reuters.
Durable Goods Orders in the US rose by 0.9%, or $2.7 billion, in February to $289.3 billion, the US Census Bureau reported on Wednesday. This reading followed a 3.3% increase (revised from 3.1%) reported in January and came in better than the market expectation for a decrease of 1%.
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is steady around 104.30 on Wednesday after the US Durable Goods Orders data release for February. On one hand, the DXY sees some selling pressure from
USD/JPY is up near 150.50. Bank of Japan Governor Kazuo Ueda reiterated the bank’s guidance that it will continue to raise interest rates if its economic outlook is realized, BBH's FX analysts report.
In precious metals, exchange-traded funds (ETFs) added 23 tonnes of Gold in the last trading session, the biggest one-day increase since 2022, ING’s commodity analysts Warren Patterson and Ewa Manthey note.
The USDCHF pair continues to trade in a range as traders await the US tariffs plan on Wednesday before taking positions with more conviction. What’s next?
European Central Bank (ECB) policymaker and Bank of France head Francois Villeroy de Galhau said on Wednesday that a 25 percentage point increase in the US tariffs in the second quarter could have limited impact on European inflation but added that they could still reduce the Eurozone Gross Domesti
Gold’s price (XAU/USD) is edging higher to around $3,027 at the time of writing on Wednesday and is turning this week’s performance into green numbers. The precious metal is being bought together with other precious metals as Copper
The Bank of Japan (BoJ) new board member Junko Koeda said on Wednesday, “we are seeing signs of progress on rising prices alongside wage hikes.” Additional quotes Various indicators show underlying inflation moving towards 2% inflation sustainably.
The Dollar Index (DXY) has found some support under 104.00 helped by a little more stability in US asset markets, ING’s FX analysts Chris Turner notes.
The lower than expected UK CPI figures increased the chances for a 25 bps rate cut at the May's BoE decision but another CPI report is due before the meeting
There has been a lot of talk in the public discussion lately about the conceptual construct of a 'Mar-a-Lago Accord' – so much so that it is no longer really clear what it is about.
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