He is still just reading from the statement mostly for now. We’ll get to the Q&A later for the more interesting bits and pieces.
This article was written by Justin Low at www.forexlive.com.
US layoffs fall to the lowest level in nearly a year and this marks the first year-on-year decrease in job cuts since May 2022. That said, there is still more than three times as many announced job cuts so far this year (481,906) compared to the first seven months of last year (159,021). That gives a little bit more perspective on things at the moment.
This article was written by Justin Low at www.forexlive.com.
Here’s a look at how the OIS curve has shifted before and after the BOE policy decision today:
It’s not much of a change in general as the BOE continues to allude to the fact that they are going to keep tightening policy further so long as the data suggests so. That is regardless of the fact that they have acknowledged that rates are now in restrictive territory.
So, yes there might be some backlash against the fact that traders have priced in roughly 32% odds of a 50 bps move today. However, it is not to say that the trajectory of where rates will end up is wrong or anything in that ballpark. There’s still a strong likelihood of two more rate hikes to come (which was what is priced in before) and that hasn’t changed.
For the pound, that means traders have some things to work out. On the one hand, there will be those „disappointed“ by a 25 bps move instead of a 50 bps move. But when you drill down to the overall pricing picture, it’s not to say that whatever that was priced in previously is being invalidated. Instead, I would argue that it is being reaffirmed instead.
Now, over to Bailey to see how he will follow through on this.
This article was written by Justin Low at www.forexlive.com.
Nach einem Gewinnrückgang im zweiten Quartal senkt Merck seine Jahresziele. Für 2023 rechnet der Konzern mit einem Umsatz von 20,5 bis 21,9 Milliarden Euro.
Ein Verbot von PFAS-Chemikalien könne zu einem „Klimaschutz-Boomerang“ werden, meinen Industrieverbände. Auch Wirtschaftsminister Habeck warnt vor einer Überregulierung für die Wirtschaft.
Beiersdorf profitiert von Preiserhöhungen und steigert sein Betriebsergebnis in der ersten Jahreshälfte deutlich. Der Nivea-Konzern erhöht zum zweiten mal seine Prognose für das Gesamtjahr.
Das zweite Quartal des Sportartikelkonzerns fällt besser aus als erwartet. Doch so richtig dürfte sich der Umbau des neuen CEO Björn Gulden erst in den kommenden Jahren niederschlagen.
Lufthansa erzielt bei höheren Ticketpreisen Rekordgewinn +++ BMW verdient etwas weniger +++ Pro Sieben Sat 1 schreibt rote Zahlen +++ Die Geschäftszahlen des Tages.