Archiv für den Monat: Juni 2022
SIX is partnering with Shard Capital to provide international custody services
Stocks making the biggest moves premarket: Campbell Soup, Moderna, Western Digital and others
Crypto poses a threat to the safety of global payment systems, fintech boss warns
Credit Suisse issues profit warning for second quarter, citing Ukraine war and rate hikes
Even if oil hits $150 a barrel, JPMorgan’s Marko Kolanovic predicts stocks will reclaim 2022 highs
Dow falls slightly as investors weigh rising yields, chance of economic slowdown
Credit Suisse issues profit warning for second quarter, citing Ukraine war and rate hikes
US MBA mortgage applications w.e. 3 June -6.5% vs -2.3% prior
Euro steadies itself with ECB in focus tomorrow
Despite the dollar being firmer today, the euro is the exception as markets continue to aggressively price in ECB rate hikes. As things stand, money markets have priced in odds of 75 bps worth of rate hikes by September as compared to the 70 bps on Friday. Meanwhile, odds of a 50 bps rate hike in July is pretty much a coin flip.A lot will depend on the ECB language tomorrow to determine how aggressive or justified the market pricing currently is.I’m on the camp that markets have gone a little too far in pricing ECB hawkishness, especially considering the economic headwinds.It’s a tough one for policymakers when they are getting so little help from lawmakers in the inflation battle but rate hikes aren’t the solution. We’ve known that for a while already and so does Lagarde & co. surely.Anyway, the euro is pretty much waiting in line for a fresh catalyst to break on either side against the dollar. The ECB might offer some clues tomorrow, so keep your eyes and ears peeled for that.