December Summary News Today

Forget interest rate cuts—private wealth manager Michael Landsberg argues the Fed may even be forced to raise rates this year.

Plus: After first-quarter data came in hotter than expected, the U.S. economy enters uncharted territory.

Forget interest rate cuts—private wealth manager Michael Landsberg argues the Fed may even be forced to raise rates this year.

The European Central Bank (ECB) will announce its monetary policy decision on Thursday.

Strong January UK retail sales push sterling and UK yields higher at the start of today’s trading. Retails sales rose 3.4% M/M vs 1.5% consensus. They add some more volatility to an interesting trading week with strong labour market figures, disappointing Q4 GDP and somewhat better inflation figures. We nevertheless expect EUR/GBP 0.85 support to survive.

The Federal Reserve (Fed) will announce the first monetary policy of 2024 on Wednesday, and market participants largely expect the Committee to leave the Fed Funds Target Range unchanged at 5.25%–5.50%.

The Federal Reserve is expected to continue its pause on interest-rate hikes this week, with cuts likely to come later this year.

The U.S. dollar is off to a strong start this year but no thanks to hedge funds and foreign exchange speculators, who have extended their bets against the worlds reserve currency to levels last seen...

The U.S. dollar is off to a strong start this year but no thanks to hedge funds and foreign exchange speculators, who have extended their bets against the worlds reserve currency to levels last seen...

Speculators extend their bets against the world’s reserve currency