Ipek Ozkardeskaya
Swissquote Bank Ltd
Global banks, including the US regional banks, rebounded sharply on Tuesday.
The US inflation data came in line with expectations on a yearly basis. Yet, the uptick in core inflation on a monthly basis to 0.5% - a five-month high, and the stickiness of services inflation above the 7% mark, revived the expectation of a 25bp hike from the Federal Reserve (Fed) at next week’s monetary policy meeting.
In Europe, the EURUSD is drilling above its 50-DMA, 1.0730, in the run up to Thursday’s European Central Bank (ECB) meeting, where the European policymakers could maintain the plan of a 50bp hike.
In the UK, investors can’t wait to hear what Jeremy Hunt will propose to boost growth.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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Persistent safe haven demand continues to prop up the march north in Gold prices so far on Friday, hitting new two-week tops past the key $2,700 mark per troy ounce despite extra strength in the Greenback and mixed US yields.
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Eurozone PMI sounds the alarm about growth once more
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