Pippo

The BOC cut its interest rates by 25bps as expected and hinted at future rate cuts. So why did the Loonie regain most of its losses?

Is an interest rate cut from the European Central Bank (ECB) a done deal this June? And are they likely to follow through with more easing moves in the next months?

Australia’s economy grew by 0.1% q/q in Q1 2024, slower than the 0.3% q/q uptick in the previous quarter and the 0.2% q/q increase that the markets had expected.

Concerns about the U.S. economy encouraged a risk averse environment and pushed the U.S. dollar higher against its “riskier” counterparts.

It’s almost time for the highly-anticipated Bank of Canada (BOC) policy decision! Will they cut interest rates this June as expected? And will they signal scope for more easing?

Spot gold is gaining ground on overall U.S. dollar weakness while the Canadian dollar is attracting bearish demand ahead of BOC’s decision.

U.S. May PMIs came in mixed, with the S&P Global reading revised higher while closely watched ISM release surprised with a deeper contraction.

We’ve got a busy trading week ahead of us since a couple of major central banks are scheduled to announce policy decisions, plus the U.S. NFP is lined up, too!

CHF was the one currency to rule them all thanks to positive developments from Switzerland & broad risk-off vibes from geopolitical catalysts & shifting sentiment on economic activity ahead. 

Market players had a lot to digest including property sector updates in China, geopolitical risks, & the always anticipated U.S. core PCE Price Index update!