Societe Generale notes... GBP/USD has fallen by nearly five big figures since the March MPC meeting. Our expectation is for a dovish set of minutes today with a unanimous vote in favour of leaving rates unchanged, though…
GBP/USD has fallen by nearly five big figures since the March MPC meeting. Our expectation is for a dovish set of minutes today with a unanimous vote in favour of leaving rates unchanged, though the risk of a 7-2 split cannot be entirely ruled out as members Weale and McCafferty resume their call for a rate increase.
Labour market data are forecast to show no change in the ILO unemployment rate at 5.7%.
Average weekly earnings, ex-bonuses, are forecast at 1.8% (up from 1.7%). Dovish MPC minutes, combined with tame earnings, will then put the emphasis on Chancellor Osborne's final budget before the 7 May election.
Our Economics team expects less austerity and few giveaways from the UK budget today.
From a bond market perspective, the latest dealer survey expects a 17% rise in gilt issuance for the year 2014-15 (up to £147bn) to cover the budget deficit and refinance maturing debt.
Gold prices edged lower on Monday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for aggressive Federal Reserve rate cuts, bolstering the dollar. Spot gold slipped 0.1% to $2,686.32 an ounce, while F…
On-chain data shows BTC whales moved 10000 BTC from Crypto exchanges. This indicate accumulation of BTC by whales. Japanese public company Metaplanet buys another 1 billion yen worth of Bitcoin. According to Santiment, t…
Personal income increased by 0.2% month over month In August, which was less than the 0.4% market forecast and less than the 0.3% growth in July. For the third consecutive month, real personal disposable income increased…
