09/12/2024 Evening Reports
Markets remain steady as central banks worldwide lean into easier monetary policies. A surprise shift in China’s monetary stance—its first “appropriately loose” policy since 2010—sent Hong Kong stocks surging, while the Federal Reserve is almost certain to cut rates next week after mixed U.S. job data. Meanwhile, geopolitical tensions are escalating: Syria’s regime collapse rattles the Middle East, and South Korea faces political upheaval. Despite this, Wall Street eyes record highs, with the S&P 500 up nearly 28% for the year, as investors brace for a packed week of central bank decisions and inflation updates.
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The pound surges to a 4-week high ($1.28) as markets gear up for a storm of central bank decisions. Will the Fed and ECB deliver expected rate cuts? Could UK growth data surprise? All eyes are on the Bank of England’s next move. #Forex #BoE #ECB #Fed #Markets
Pound Climbs to 4-Week High: Could UK Data and Global Rate Decisions Bring Surprises?
The British pound hit $1.28, its highest in nearly a month, as investors brace for pivotal economic data and central bank decisions. UK growth figures, due next week, could reveal an October rebound, but will that sway the Bank of England to reconsider holding rates steady on December 19? Meanwhile, the Fed and ECB are expected to cut rates by 0.25%, with the ECB’s move lowering its deposit rate to 3%. With inflation data from the U.S. also on the horizon, global markets are entering a decisive week. Surprises could be just around the corner—are investors ready?
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