Summary United States: Recession Is Taking Its Time Economic data continue to suggest the U.S. economy is only gradually losing momentum. Consumers continue to spend, and industrial and housing activity are seeing some stabilization. We still view a recession is more likely than not by year-end, but there is no denying the underlying resiliency evident […]
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Daily Pivots: (S1) 191.61; (P) 193.20; (R1) 194.19; More… GBP/JPY’s decline from 198.94 continues today and intraday bias remains on the downside. Deeper fall would be seen to 188.07 support. Firm break there will argue Read more…
Sterling extended its losses at the start of the week as deepening concerns over the UK’s fiscal situation continued to dominate market sentiment. Yields on 10-year UK Gilts surged above 4.88%, inching closer to the Read more…
Markets US December payrolls shifted the needle of US money markets from two to only one additional 25 bps Fed rate cut this year. Headline job growth (+256k vs +165k expected) was the best since Read more…