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Market Update – November 4 – A Cooler USD To Start NFP Day

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  • The BOE As expected, rates rose 75 bp (Highest since 1989; 33 Years) 2.25% To 3%He suggested that the UK was Already in recession It would be there until the end. mid-2024, (The longest record-breaking time). 2 out of the 9 MPC members wanted 25 or 50 bp. The peak was for Inflation Reduced from 13.3% To 11% But still more than 5x the 2% The target rate. Governor Bailey stated that they expect interest to increase. Rates to peak at 4.75%, Below is the consensus at present Level of 5.25%. Unemployment It is likely that it will rise to 6.4% Current decade lows at 3.5%. Expect Lending and mortgage rates to rise between 4.5-5.5% Starting at 2.5-3.0% One year ago. Sterling Tanked as Stock in the UK Markets rallied.

  • USDIndex – DTested in a sandbox 113.00 Trade at 112.40 ahead NFPjobs News ISM Services PMI (54.4 vs.55.5) Data not available Weekly Claims were better (217k vs 220K) Stocks fell more than expected. Stocks fell (NASDAQ -1.73% Once again, the market was underperformed. The 10-year yields rose closing at 4.124%. Asian The markets rallied (Japan is closed) on more speculation that China is about to ease it’s zero-covid policy, Chancellor Schultz It is also available in Beijing today.  (Hang Seng +6.54%Shanghai +3.75%).
  • Overnight – AUD Retail Sales Line (0.6%)
  • EUR – hit…



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