Wall Street slips and FTSE closes in red despite UK interest rate cut
The FTSE 100 pushed higher after the Bank of England cut rates to 5% but gains eroded.
The FTSE 100 pushed higher after the Bank of England cut rates to 5% but gains eroded.
The USD/JPY is trying to recover after the massive selloff that we have seen against the Japanese yen. It has been a brutal drop, so it is possible that the market will continue to see a bit of short covering in the next day or two – except we also
The Aussie continues to see a lot of support in this area, and I think at this point in time, we are likely to see a lot of support – if for no other reason than the market has fallen so rapidly.
The proportion of Italian sovereign debt held by foreign investors, a less stable source of demand than the ECB and residents, is rising and will make Italy more susceptible to changes in market sentiment.
Bank of England cuts interest rate to 5% in knife-edge decision.
-- Most Asian currencies strengthened on Thursday as the dollar dropped after the Federal Reserve signaled that an interest rate cut was close, while the Japanese yen hit a five-month high on hawkish signals from the Bank of Japan.
-- Australia’s trade balance grew slightly more than expected in June, aided by a steady increase in exports of iron ore and other key commodities, although the trade surplus still remained close to four-year lows.
The US Dollar continues to fall against the yen, as the Bank of Japan has raised rates to a “whopping 25 basis points.” With this, traders are now waiting to see what the Federal Reserve is going to do later in the day.
The dollar weakens as an interest-rate increase in Japan is coupled with expectations of monetary easing in the U.S. The Bank of Japan increased rates to 0.25% from a 0%-0.1% range, strengthening the yen against the dollar. The USDJPY is at 150, the lowest since March.
The AUD/USD pair fell almost immediately upon the Wednesday open. This is a market that I think will only continue to see more and more volatility, as the Federal Reserve will move the USD later in the day. However, I think you should also pay close attention to China as