EUR/USD
1.12963
-0.039%
Gold
3354.90
-0.285%
Oil
58.302
1.080%
USD/JPY
143.927
0.067%
GBP/USD
1.33078
0.120%
GBP/JPY
191.539
0.222%
Real-time News
On May 8, Seema Shah, chief global strategist at Principal Asset Management, said that the Federal Reserve has fallen into an almost desperate situation, and its dual missions - full employment and stable prices - may go in opposite directions. However, the incredibly uncertain US government policies will determine the timing and magnitude of these changes. Trumps tough stance on tariffs has further exacerbated the Feds embarrassing situation. In this case, the Fed can only choose to stand idly by. Rate cuts are necessary, but the Fed seems to increasingly need to wait until the end of the third quarter for the window of opportunity to open.On May 8, Steve Matthews, investment director of Canada Life Asset Management, pointed out that a 50 basis point rate cut will be an important topic at the Bank of Englands upcoming meeting, reflecting the change in the economic background since Marchs standstill. Global trade disruptions and signs of economic slowdown - especially the decline in US quarterly GDP data - have put a larger interest rate cut in the spotlight. Given that UK CPI inflation is now basically up to standard, MPC members Dingla and Mann are expected to support a 50 basis point rate cut, opening the door to a possible unexpected large rate cut. However, Matthews predicted that this camp is expected to be vetoed by the majority vote in the end, thus passing a 25 basis point rate cut resolution, bringing the base rate to 4.25%.Germanys industrial output in March adjusted for working days was -0.2% year-on-year, in line with expectations of -2.7% and previous reading of -4.00%.Ukrainian Air Force: As of 8 a.m. local time on May 8, no Russian missiles or drones were found in Ukrainian airspace.Germanys seasonally adjusted industrial output rose 3% month-on-month in March, the biggest increase since October 2021.
