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Power of markets updates:RBI December 23 policy announced No change status quo maintain. GDP forecast for fy24 at 7%, CPI for fy24 can be at 5.4%. Traders & investors be alert and watchful , for detail analysis do subscribe and tuned with Power of markets channel if you like subscribe us Power of markets financial markets analysis platform do subscribe

🔔 Market News - 09 July 2024: EUR remains stable as losses are contained amidst UK political stability compared to uncertainty in French politics. There's potential for GBP/EUR to test highs of 1.1875/1.19, maintaining a steady outlook in the near term. GBP/USD has approached 2024 highs due to ongoing USD selling following Friday’s job data. Anticipation of a dovish stance from Fed Powell during the upcoming semi-annual testimony and an expected drop in CPI could further weaken the USD. Traders may want to consider placing GBP/USD orders at 1.2850/1.29 to capitalize on potential movements. UK GDP for May is projected to show a growth of 0.2%, bolstering economic health in Q2 and supporting GBP strength in the market. r.bennacer@equalsmoney.com

02 July 2024.........Market Updates The US ISM Manufacturing PMI registered 48.2 (consensus 49.2) and the ISM Manufacturing Employment 49.3 (consensus 50) respectively last night. That signals that the US economy is slowing and conditions are supportive of a US Interest Rate cut. While manufacturing activities are showing signs of slowing, the FED's focus is still on the labour related data as any weakness is the key to see a September rate cut. The focus today will be on the Lagarde and Powell speeches at the ECB Forum in Portugal today. The ECB had indicated that there will not be a second rate cut the next round as they needed more time to assess that the EU economy warrants a second rate cut from here. The US JOLTs and the EU's Inflation and Unemployment data will be released today. Tomorrow will be a data-packed day as the US data originally scheduled for release on Thursday is brought forward to Wednesday due to the 4th July US Independence Day holiday. Technically, the DXY has entered the upper end of a higher pivot range of 105.00-106.00 while the US10Y is testing a resistance @ 4.55 %. The DXY and the US10Y closed @ 105.82 (day range 105.45-105.98) and 4.47% (day range 4.39%-4.49%) respectively. The BOJ is still sorely missing in action as the USD/JPY traded a new high of 161.73 while the XAU is building a base support @ 2300.00 with demand from an "invisible hand". Today will be quiet in the Far East session, as the BOJ will be the guard-dog for the USD/JPY. On the election front, the UK will be holding its Election on Thursday and polls are showing that Sunak is losing the grip on the 14 years reign of the Conservative Party in the UK. The week is starting to look exciting. Let's see. #privatebanking #familyoffices

Former BoE economist Haldane thinks MPC well behind the curve on rates: Former BoE economist Haldane suggested the MPC could be more than six months behind the curve when it starts to cut rates (CityAM). Said in media appearances on Thursday the MPC should have started cutting rates in January to avoid falling behind the curve. Risks hampering economic recovery with no cut until at least August and could be later. Haldane highlighted the BoE should not be looking at where inflation is, but where it is going (MSN). UK interest rate market has priced out rate cuts after stronger-than-expected inflation data this week and US data strength influencing global rates. Markets only pricing in one BoE rate cut by year-end. Stickiness in services prices likely to be a worry for BoE officials, though forward-looking PMIs showed prices coming down gradually and may feed through to official data in the months ahead. Recall that BoE Governor Bailey said at May policy meeting market may be underestimating number of rate cuts given its inflation forecasts. Note that in August the BoE will also publish new estimates.

Former BoE economist Haldane thinks MPC well behind the curve on rates: Former BoE economist Haldane suggested the MPC could be more than six months behind the curve when it starts to cut rates (CityAM). Said in media appearances on Thursday the MPC should have started cutting rates in January to avoid falling behind the curve. Risks hampering economic recovery with no cut until at least August and could be later. Haldane highlighted the BoE should not be looking at where inflation is, but where it is going (MSN). UK interest rate market has priced out rate cuts after stronger-than-expected inflation data this week and US data strength influencing global rates. Markets only pricing in one BoE rate cut by year-end. Stickiness in services prices likely to be a worry for BoE officials, though forward-looking PMIs showed prices coming down gradually and may feed through to official data in the months ahead. Recall that BoE Governor Bailey said at May policy meeting market may be underestimating number of rate cuts given its inflation forecasts. Note that in August the BoE will also publish new estimates.

RBI Monetary Policy Update June 2024! RBI released the decisions of MPC's June 5-7 2024 meeting today. The committee has decided to keep the policy rates unchanged on the back of easing inflationary pressures: 1. Repo Rate: 6.5% 2. Standing Deposit Facility: 6.25% 3. Marginal Standing Facility: 6.75% The RBI also projected Real GDP growth for FY25 to be at 7.2% based on strong manufacturing and services activity and continued policy thrust on infrastructure which is expected to crowd in private investments. RBI inflation forecasts for FY25 stands at 4.5% as adverse climate events and geopolitical tensions continue to pose upside risks to inflation. Globally, there is divergence in direction of policy rate changes. The likes of Switzerland, Mexico, Canada, and EU have begun rate cut cycle. Japan, Turkey, and Indonesia on the other hand, have hiked their policy rates recently. However, there continues to be uncertainty around US's Fed rate cut hikes. Find all the details below!

Today in financial markets - £ on 4 month highs after GDP uplift this morning 1.2870 £/$ 1.1870 £/Euro 1.9045 £/Aud 1.7545 £/Cad Big Day for the US Dollar Today's trading session will be the highlight of the week as the June US consumer price index report is scheduled for release at lunchtime. Judging by Wednesday's price action, markets have already started to price in a softer outcome. The greenback has seen continued selling pressure with cable (GBPUSD) charging towards $1.29 which, if reached, would be a fresh 2024 high for the currency pair. Equity markets surged higher on Wednesday led by US indices. This is usually a solid indicator of how participants feel towards a pending data set. The figures will be released at 1.30 pm this afternoon. The headline CPI reading is forecast to print at 3.1% in June which would be a 0.2% drop from May's figures (3.3%). Also on the agenda today will be a raft of UK figures that will include monthly GDP data (May), industrial production, and manufacturing numbers. It should be an exciting day for markets, just as England proceed to the final of the European Championship. Buckle up!

Here are the highlights of the current developments: • Markets opened yesterday with quiet trading amid the absence of influential economic data. • The most important day of this week is next Thursday, March 28, 2024, and also the end of the week, Friday. • Thursday will see the release of the US Gross Domestic Product (GDP) report, and markets will also await a statement from a Federal Reserve member. • Additionally, on Friday, the Personal Consumption Expenditures (PCE) index will be released, which will be crucial for measuring inflation, along with a statement from Federal Reserve Chair Jerome Powell. • Therefore, strong movements are expected on Thursday and Friday, with caution as it will also mark the monthly close. 👈 Today, markets are awaiting the release of the US Consumer Confidence Index statement at 5:00 PM Saudi Arabia time.

Our ratings on German P/C insurers are resilient and likely to be broadly unchanged over 2024-2025. However, insurers will need to adjust their prices to reflect the inflation impact and market conditions. Read more: https://ow.ly/Wgzq50QG4i7

Today's key points: - This week, the U.S will release PCE data and RBA minutes. - The latest PMI data indicates a weakening in the manufacturing sectors. USD On Friday, there were several negative data releases from the U.S. However, comments from FOMC member William's helped boost the USD. Industrial production fell to 0.2% and the latest manufacturing PMI came in at 48.2, both missing market expectations. Services, on the other hand, continued to expand at a modest pace, increasing to 51.0 from 50.7 in November. New York Fed President John Williams stated that rate cuts are not currently being considered and it is premature to even think about them. EUR In Europe, both Manufacturing and Services PMI data were released, showing a decline from the previous month and missing market forecasts. During Thursday's ECB meeting, the central bank pushed back against market expectations of rate cuts in 2024. President Lagarde stated that rates would be set at restrictive levels for as long as possible to bring inflation back to the target of 2%. The governing council did not discuss a timetable for rate cuts. GBP In the UK, the manufacturing PMI fell to 46.4 in December, missing the forecast of 47.5. However, services saw a significant increase, with the latest PMI rising to 52.7 from 50.9. HSBC commented on the housing market, stating that UK home prices will stabilize, consumer sentiment is improving ahead of Christmas, and job postings are still rising despite a softening labor market. #australia #uk #newzealand #usa #interestrate #dollar #sterling #finance #money #forex #trading #price #business #currency #globaltrade #investment #investing #stockmarket #wealth #realestate #markets #economy #shillingscapital #willbanks #marketedge #internationalbusiness #europe #zenoz