Market insights

US Interest Rate 5.5% - MI020524

Yesterday evening saw the FED announce its interest rate decision. As expected they kept the US base rate at 5.5%.

The press conference afterwards did little to sway the markets, so no fireworks.

For the moment it's the Southern hemisphere where all the action is taking place.

The Japanese Yen is going through a sustained period of volatility, and the Pound has been softening against the Australian Dollar and the New Zealand Dollar.

With a relatively light day for scheduled news things may not change too much today.

The Canadian Dollar will be under the spotlight later as the Governor of the Bank of Canada, Tiff Macklem, gives a speech.

There's also a speech by a member of the ECB, Philip Lane, and these speeches have been pushing the markets recently.

In business news it's a bit gloomy for the UK. The OECD is predicting the UK will have the most sluggish growth in the G7 next year due to it's aggressive interest rate hikes.

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Economic calendar

CAN: 13:45 BoC's Tiff Macklem Speech

EUR: 21:15 ECB's Philip Lane Speech

As ever we look forward to keeping you in the loop and look out for our next update.

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