Collinson Forex Daily Market Commentary

Daily Market Commentary

Markets look ahead to a huge week, dominated by Central Bank rate decisions, led out by the Fed. The Fed are expected to begin to cut rates, for the first time since 2020, by 25 basis points and perhaps even 50. Inflation has been falling into line, approaching target levels, while the economy needs the stimulation of lower interest rates, as does the mind-blowing debt. The Bank of England are next up to the plate and may well cut rates for the second time, in this cycle. The Bank of China and Bank of Japan will chime in later in the week. The US Dollar was softer, with the EUR regaining 1.1100, while the GBP looks to break back above 1.3200.

The softer reserve allowed the recover in commodity currencies to continue, with the AUD approaching 0.6750, while the NZD is heading back towards 0.6200. An action pack week is expected.

Paul Bettany   I   Collinson Forex Limited    Collinson & Co.  

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