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On May 3, according to the Wall Street Journal, the incoming Federal Reserve Vice Chairman of Supervision, Bowman, is seeking to reassess confidential ratings of the health of large banks. In a speech in February this year, she questioned the Feds recent regulatory ratings, saying that there was a "strange mismatch" between the Feds view of the financial condition of large banks and the unsatisfactory ratings given to many of them last year. According to people familiar with the matter, the Federal Reserve has not yet announced new regulatory ratings for U.S. banks with assets of $100 billion or more. Usually, the Federal Reserve will announce these ratings privately before the end of March. Some people familiar with the matter said that the Federal Reserve is planning to wait until the Senate confirms Bowmans new position. It is reported that the Federal Reserve has begun the process of determining next years ratings, and Bowman is expected to change the way the Federal Reserve calculates scores.According to the Wall Street Journal: Incoming Federal Reserve Vice Chairman of Supervision Bowman is seeking to reassess bank ratings.U.S. Commodity Futures Trading Commission (CFTC): As of the week ending April 29, U.S. speculators reduced their net short positions in the S&P 500 CME by 10,014 contracts to 249,462 contracts, while stock fund managers increased their net long positions in the S&P 500 CME by 18,407 contracts to 826,250 contracts.U.S. Commodity Futures Trading Commission (CFTC): As of the week ending April 29, speculative net long positions in COMEX silver futures increased by 5,078 lots to 31,252 lots.U.S. Commodity Futures Trading Commission (CFTC): As of the week ending April 29, speculative net long positions in COMEX gold futures decreased by 9,857 lots to 115,865 lots.

The EUR/GBP exchange rate recovers from 0.86 before to German GDP

Alina Haynes

Oct 28, 2022 15:29

 截屏2022-10-28 上午10.31.22.png

 

During the Tokyo session, the EUR/GBP exchange rate of 0.8610 attracted increased interest. Prior to the announcement of German Gross Domestic Product (GDP) data, the asset broke above a tight consolidation between 0.8610 and 0.8620.

 

The risk profile has detected a comeback as S&P500 futures have reduced their gains. Additionally, the US dollar index (DXY) has declined to roughly 110.35.

 

Following Thursday's announcement of monetary policy by the European Central Bank, bulls of common currencies faced a sharp sell-off (ECB). Christine Lagarde, president of the European Central Bank (ECB), announced a 75 basis point (bps) consecutive rate increase and a push of interest rates to 1.5%, the highest level since 2009, in order to combat the record inflation jump and ensure a speedy return to 2%.

 

The less forceful tone of policy directives hurt euro bulls. Christine Lagarde appeared dovish during the press conference, but Commerzbank analysts still forecast a big rate hike at the December meeting.

 

The future focus of investors will be on German Gross Domestic Product (GDP) figures. The consensus predicts that the annual GDP growth rate for the third quarter will be 0.8%, down from the previous reading of 1.7%. Quarterly GDP data will demonstrate a 0.2% drop.

 

In order to establish financial stability, the novel UK Prime Minister Rishi Sunak has shifted his whole attention to lowering the pile of debt. According to the Financial Times, Sunak is proposing tax increases and budget cuts of up to 50 billion GBP, which is consistent with the plan of the Bank of England (BOE). Next week, investors will focus only on the monetary policy of the Bank of England. As the first interest rate decision following Sunak's candidacy as British prime minister, the monetary policy decision will have a significant impact.


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