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By HFblogNews · Posted
Date: 9th January 2025. FOMC Minutes Signal Slower Rate Cuts, UK Borrowing Costs Surge, & Global Market Update. Asia & European Sessions: The FOMC minutes showed that the Committee expected to be slowing the pace of rate cuts after its decision to trim rates another -25 bps. Following an unexpected emergency rate cut in September, despite there being no immediate crisis, the Fed has since shifted towards a more measured approach, indicating that a slower pace of rate reductions would be “appropriate” by December. The core strategy remains consistent: to bring inflation down. While inflation-related discussions did touch on concerns over US President-elect Trump’s trade taxes and deportation plans, these issues were not the main focus of the inflation debate. The Greenback was firmer overnight on reports Trump would declare a state of emergency to get his tariff plans through. It dipped on the ADP report but bounced on the tight jobless claims data. The index had firmed yesterday after Trump denied reports he would soften his tariff plans, and after the strength in the JOLTS numbers Tuesday. Solid 30-year auction results also supported in the afternoon. China's inflation data for December showed largely stable consumer prices, with food prices stabilizing (a notable factor given food’s significant weight in the consumer basket) and only modest increases in non-food prices, despite efforts to boost domestic consumption. Producer prices, however, continue to struggle with deflation. In the UK, the BRC shop price index fell more sharply than anticipated, with a significant drop in non-food item prices, likely influenced by Black Friday discounts. When combined with sales data, this suggests that UK consumers increased their real-term spending in the fourth quarter, driven by lower prices and promotions. Gilts remain under pressure in early trade, with the UK 10-year rate up 2.1 bp at 4.81%. UK 10-year borrowing costs surged to their highest point since the global financial crisis, while the Pound plummeted, as a deepening bond sell-off raised concerns over the Labour government’s ability to meet its self-imposed budget targets. So far in 2025, borrowing costs in the UK have increased at a faster pace than in other major economies, driven by investor fears over the government’s large borrowing requirements and the mounting risk of stagflation. Eurozone industrial production rose 1.5% m/m in November. Germany's jobless rate still is very low by European standards, but the overall picture remains pretty gloomy, with political uncertainty and the threat of Trump tariffs not helping. Financial Markets Performance: European stock markets are mixed, with the FTSE100 outperforming and up 0.4%, while the DAX is down -0.2%, after a largely weaker close across Asia. Hang Seng and CSI 300 lost -0.3%, after Chinese inflation numbers. The USDIndex is up 0.2% and at 109.17, while Sterling continues to sell off. GBPUSD slumped below 1.2300 on budget angst and as the 10-year Gilt spiked. EURUSD slumped to 1.0273 after weak Eurozone data. USOIL is slightly down on the day and at USD 73.24 per barrel. Gold is unchanged at USD 2662.44 per ounce. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission. -
By Stocks4life · Posted
NTRA Natera stock, nice rally with a top of range breakout at https://stockconsultant.com/?NTRA -
By Stocks4life · Posted
IP International Paper stock, great day off the 53.37 gap support area at https://stockconsultant.com/?IP -
By Stocks4life · Posted
GEO stock, nice flat top breakout from Stocks to Watch at https://stockconsultant.com/?GEO -
By Stocks4life · Posted
FSLY Fastly stock watch, pull back to 9.79 support area with bullish indicators at https://stockconsultant.com/?FSLY
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