Powell presses pause on dollar rally

Powell presses pause on dollar rally

Jerome Powell left very little doubt about the likelihood of Fed cuts in the immediate future last week. Testifying to lawmakers, Powell said that uncertainties around global growth were weighing on the US economy, while the outlook for inflation in the US remained...
Geopolitics in scope this week

Geopolitics in scope this week

Last week’s price action was dominated by speculation over global policy rates following a dovish turn by the Federal Reserve. While markets have increased their bets on how much the Fed will cut rates, with pricing currently suggesting 78 basis points by January...
ZAR rallies after Draghi hints at policy easing

ZAR rallies after Draghi hints at policy easing

Further dovish commentary from ECB Chair Draghi has pushed the rand to the top of the EM currency board this morning as the carry trade environment begins to lighten. Despite global growth woes still prominent on investors’ minds, the prospects of lower interest rates...
Draghi’s legacy: letting the rate cutting geenie out of the bottle

Draghi’s legacy: letting the rate cutting geenie out of the bottle

The rate cutting genie is out of the bottle for the European Central Bank after Mario Draghi this morning mentioned that further cuts in the policy rate remain part of ECB’s toolkit. A full ECB rate cut is now priced in by futures markets for 2019 after Draghi showed...