The upcoming BoE rate decision is highly anticipated by the market and economists, with expectations leaning towards no change in rates. The previous meeting saw a majority vote of 8-1 to keep the rates unchanged, signaling a cautious approach to monetary policy. However, recent comments from key BoE officials have hinted at a more dovish
China’s President Xi Jinping’s visit to Paris comes at a time when trade tensions between Europe and China are on the rise. French President Emmanuel Macron is expected to raise the issue of reducing trade imbalances with Xi during his two-day stay in France. However, the likelihood of achieving this goal is uncertain given the
Warren Buffett, the legendary investor, recently mentioned that Berkshire Hathaway is exploring potential investment opportunities in Canada. He expressed his comfort with investing in the country during an arena full of investors, stating that they are actively looking at one opportunity. This indicates that Buffett sees potential in the Canadian market and is willing to
New York Federal Reserve Bank President John Williams emphasized the importance of the U.S. central bank’s 2% target for inflation in achieving price stability and ensuring economic prosperity. He highlighted the significance of transparency and clear communication in setting an explicit, numerical longer-run inflation target. Williams stressed that these actions are crucial in anchoring inflation
The recent Reuters poll revealed an unexpected split among economists regarding the potential size of the interest rate reduction in Brazil on May 8. The central bank’s previous actions of six consecutive 50 basis points rate cuts had set a clear path of easing, but the lack of forward guidance and a more hawkish stance
Mexico’s peso is facing a complex landscape, balancing between a relatively stable economy and political doubts. Despite the minor 1% year-to-date depreciation, the currency is expected to experience a further slight drop in the medium-term. The delayed start of monetary policy easing in the United States and escalating global volatility due to tensions in the
The Bank of England is set to have its third meeting for the year 2024 on Thursday. This meeting includes the release of the press statement, meeting minutes, and the Monetary Policy Report at 11:00 GMT. Following these releases, there will be a press conference which is scheduled to take place 30 minutes later. It
A former Societe Generale trader, Kavish Kataria, who was dismissed from the bank’s Delta One desk last year, has come forward to criticize the French bank for what he perceives as unfair treatment. He claims that he was made a “scapegoat” by the bank and that they failed to take their share of responsibility for
The Japanese Yen (JPY) has been on a winning streak, gaining momentum for its third consecutive day. This upward movement has been further fueled by rumors of government intervention aimed at supporting the domestic currency. The reported actions by Japan’s financial authorities have shored up the JPY, contributing to its positive trend. Additionally, the recent
The recent analysis on EURJPY using Short Term Elliott Wave suggests that the rally from the low on 12.7.2023 is continuing in a 5-wave pattern. This indicates a bullish momentum in the market as the pair extends higher. Breaking down the wave pattern, we can see that wave 1 ended at 163.71, followed by a
The Internal Revenue Service (IRS) recently announced its plan to significantly increase audit rates for large corporations, partnerships, and multimillionaires over the next three years. The agency aims to ramp up enforcement spending and hiring to boost collections from high-income entities. The strategic operating plan involves targeting a near tripling of the audit rate on
The Indian Rupee (INR) has shown momentum with a drift higher on Friday, supported by several key factors. The positive outlook in the Indian economy, along with inflows of foreign capital, has helped boost the INR. Investors are closely watching for cues from the US, particularly the ISM Services PMI and employment data scheduled to