Rate Cuts Begin

Last week we saw the first of potentially more rate cuts as both the BoC and ECB cut rates by 25bps. I know our reports have been looking at rate cuts being pushed deeper and deeper into 2024 and the NFP number last week seemed to continue its signal of higher for longer.

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Rate Cuts Looking Deferred

Last week the markets were influenced by impending rate cuts or lack of. GBP regained the 1.27 level as any imminent rate cuts seem to have been pushed back from June to the earliest August. This was substantiated by the most recent inflationary numbers coupled with the unexpected election in July.

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Risk-on continues its trend

Last week we saw a return to a risk-on environment. The US Inflation report muted any calls for US interest rates to move higher leading to an equity rally and risk-on currency move.

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The Old Man and the Markets

Since the beginning of this year (see my report on January 18th), in addition to Gold, I have also suggested that people look into commodity markets, specifically copper, aluminium, corn, wheat, and Natural Gas, and consider buying these products on any further weakness.
The post The Old Man and the Markets first appeared on JP Fund Services.
The post The Old Man and the Markets appeared first on JP Fund Services.

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BoJ Intervenes to Shore Up Yen

Last week we saw a reversal of the dollar strength which saw once again market expectations of 2 or more rate cuts in 2024 back on the table. With disappointing job numbers and a less hawkish than expected Powel the dollar tumbled away its gains and stock markets were buoyed.

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