header background

LMAX Group blog - FX industry thought leadership

header background

Daily Reports

Next 24 hours: A reluctant repricing of US rates

Today’s report: Yield differentials sway back to the Buck

FOMC rate cut pricing has come down 3 basis points to an expectation of just 31 basis points of rate cuts from the Fed in 2024. The adjustment has been brought on by a stronger than expected US consumer confidence reading which has forced the market to drive yield differentials back in the Buck’s favor.   read report

download report

Wake-up call

US market returns from holiday break

Next 24 hours: Month-end flow shows USD sell interest

Today’s report: US market returns from holiday break

Market conditions will get back to fuller form today as the UK and US markets return from holiday. As things stand right now, the OIS market is pricing 34 basis points of rate cuts from the Fed in 2024, down from 40 basis points last Thursday following the more hawkish leaning Fed Minutes.   read report

download report

Wake-up call

Today’s report: Pendulum swings back to hawkish Fed pricing

The big story in the second half of the week has been a run of US calendar events that have fueled a hawkish repricing of Fed rate cut bets. The combination of the hawkish Fed Minutes, stronger jobless claims data, and robust PMIs have all resulted in the market getting back to pricing closer to just one full rate cut in 2024.   read report

download report

Wake-up call

Next 24 hours: Post Fed Minutes Dollar run fades away

Today’s report: Investors shrugging off hawkish Fed Minutes

The fact that the Fed Minutes have still left the door open for the possibility of a rate hike is not something investors will be excited about. Wednesday’s more hawkish leaning Fed communication has resulted in a fresh wave of Dollar buying as OIS pricing sees an adjustment lower in rate cut odds.   read report

download report

Wake-up call

Next 24 hours: Pound and New Zealand Dollar stand out

Today’s report: RBNZ holds, UK inflation, Fed Minutes ahead

We expect activity will be picking up today with some major first tier calendar risk on the docket. At the moment, we’re seeing very tight ranges this week as currencies consolidate recent gains against the US Dollar and US equities consolidate just off record high levels.   read report

download report

Wake-up call

Next 24 hours: Traditional markets take back seat to crypto

Today’s report: Mild repricing of rate cut bets on hawkish Fed speak

We suspect market activity will pick up today after a rather subdued Monday session that was lacking in first-tier economic data releases. A round of hawkish Fed comments has however resulted in some mild renewed demand for the Buck.   read report

download report

Wake-up call

New week gets off to a good start

Next 24 hours: Fed speak takes center stage in data light US session

Today’s report: New week gets off to a good start

Risk appetite is looking quite healthy as the new week gets going. Investors have been encouraged by the latest run of Goldilocks economic data out of the US, which supports the view rates should lean more towards the investor friendly, accommodative side of things.   read report

download report

Wake-up call

Any opinions, news, research, analyses, prices or other information ("information") contained on this Blog, constitutes marketing communication and it has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Further, the information contained within this Blog does not contain (and should not be construed as containing) investment advice or an investment recommendation, or an offer of, or solicitation for, a transaction in any financial instrument. LMAX Group has not verified the accuracy or basis-in-fact of any claim or statement made by any third parties as comments for every Blog entry.

LMAX Group will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. No representation or warranty is given as to the accuracy or completeness of the above information. While the produced information was obtained from sources deemed to be reliable, LMAX Group does not provide any guarantees about the reliability of such sources. Consequently any person acting on it does so entirely at his or her own risk. It is not a place to slander, use unacceptable language or to promote LMAX Group or any other FX and CFD provider and any such postings, excessive or unjust comments and attacks will not be allowed and will be removed from the site immediately.

Sign up for Global FX Insights, the daily market commentary from LMAX Group

Your information will not be distributed or shared with third parties