Market Overview - Page 74

The Swiss National Bank left its key interest rate unchanged at 1.75%. On average, markets had been predicting a 25-basis point hike, contrary to our expectations.  Most likely, market participants’ forecasts were influenced by the ECB rate hike a week.

UK consumer inflation slowed from 6.8% to 6.7% y/y, contrary to the expected acceleration to 7.0%. Core inflation, excluding food and energy, saw an even more significant slowdown of 6.2% from 6.9% y/y, well below the average forecast of 6.8%..

The Canadian dollar reversed course to the upside a week and a half ago, and its strength is gaining momentum on the back of both a fresh wave of demand for commodities and robust economic data. USDCAD is down 1.9%.

Gold added almost 1% on Friday, having managed to defend against a fall below $1900 the day before. The price tests the long-term and medium-term trends for the second month, leaving the Fed to make a decisive argument in favour.

In a highly anticipated comeback, UK-based chip designer Arm Holdings has made a stunning return to the stock market. The move garnered significant attention, resulting in the company’s market value surging to a remarkable $60 billion (£48.3 billion). As the.

Though analysts anticipated no changes, the ECB raised the rate by 25 points to 4.5%. However, the ECB’s comments had a more significant effect on the markets. They stated that current rates are effective enough to normalise inflation eventually. This.

Oil prices are going up because the largest members of the OPEC+ cartel are facing a shortage. The US has increased its production since August without increasing the number of drilling rigs, only boosting output from existing ones. These conditions.

The latest US report was a reminder that the fight against inflation will not be easy. We would guess that the most challenging period for the authorities has just begun. In August, the US CPI rose by 0.6% m/m, taking.

Better-than-expected Canadian jobs data made the Loonie seem stronger than the Greenback for a while, and it made another attempt to get back below 1.36 for USDCAD. Payrolls rose by 39.9k, double the expected 19K. On a more positive note,.

Business activity in the UK is losing ground, as is the case in Europe and China, although the final reading for August saw the services PMI rise to 49.5 from the first estimate of 48.7. According to today’s PMI, the.

Economic data from China and the eurozone sent markets back into sell-off mode. China’s services PMI fell from 54.1 to 51.8, the smallest growth rate since last December. That’s a sharper slowdown than the 53.6 expected. The momentum of the.

Friday’s batch of US statistics boosted the Dollar, while the US stock market was mixed as a sell-off replaced an initial rally. The data showed that the US economy created 187K jobs in August, but data for the previous two.