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The usual leaks that follow ECB rate decisions emerged yesterday to suggest that policymakers are leaning towards 25bps cuts in January and March at this point. Markets have priced in a bit more easing risk; swaps reflect 69bps of anticipated easing through March, Scotiabank’s Chief FX Strategist Sh

Gold rally fails at around $2,720 and pares previous gains amid higher US yields. The divergence between the Federal Reserve and the rest of the major central banks is supporting the USD. XAU/USD is under growing negative pressure, aiming for $2,660. Gold (XAU/USD) has given away earlier gains and i

The ECB decided to cut its three policy rates by 25bp, in line with market expectations. The most important decision taken today, though, was to remove the pledge to keep monetary policy restrictive. The ECB now simply guides that it will use the three-tiered reaction function inputs as key metrics

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The November payrolls report signalled a return to normality after the disruption caused by the hurricanes and the Boeing strike in the previous report. The US economy remains at full employment, and wages are growing healthily. The dollar initially sold off following the release of the data, perhap

Key changes in CEE outlook The third quarter was another period labeled as “weaker than expected”. GDP growth surprised to the downside in most of the CEE countries, prompting us to revise the 2024 GDP forecast down as well as 2025 accordingly. Hungary and Romania will grow below 1% in 2024. In 2025

Gold Gold price edged higher in early Monday trading following a $10 gap-higher opening, lifted by heated geopolitical situation and fresh demand. Traders shifted into safer mode after Syrian rebels seized capital Damascus and took control over the country, with growing uncertainty about the near fu

S&P 500 brought another day of reliable gains delivered to clients both swing and intraday, and I do tolerate the lackluster overall breadth (advance-decline volume, I‘m looking at you mainly). That‘s because positive developments such as latest earnings in tech result in broadening breadth in t