[Tree] BSP's monetary policy independence and economic implications

Version 1.06 (2024-09-29 16:37:11.846000)

updates: BSP declares independence, lowers interest rates

Version 1.05 (2024-08-26 05:41:56.695000)

updates: Eli Remolona's grade and inflation management updates

Version 1.04 (2024-07-01 16:58:46.171000)

updates: Updates on the Philippine central bank's expected interest rate cut

Version 1.03 (2024-06-26 23:58:20.328000)

updates: Includes information about the Philippine central bank's rate decision

Version 1.02 (2024-06-12 00:54:22.779000)

updates: Added information about Colombia central bank and inflation

Version 1.01 (2024-04-22 21:21:36.981000)

updates: Paraguay central bank's decision to pause rate cuts

Version 1.0 (2024-04-20 16:21:51.952000)

updates: Banxico expected to pause rate cuts in May

Version 0.99 (2024-03-21 22:20:09.985000)

updates: Mexico's central bank cuts interest rate for the first time in three years

Version 0.98 (2024-03-21 17:22:59.851000)

updates: Updates on Banxico rate cut expectations and concerns over inflation

Version 0.97 (2024-03-19 20:21:26.009000)

updates: Integration of new information about Banxico's expected interest rate cut and the divided Governing Council

Version 0.96 (2024-03-05 18:18:31.317000)

updates: Updated information on US economic data and Banxico's projections

Version 0.95 (2024-03-01 23:18:44.917000)

updates: Mexican Peso strengthens due to signs of a resilient economy

Version 0.94 (2024-02-29 16:33:12.042000)

updates: Mexican Peso strengthens against US Dollar due to US inflation and Jobless Claims

Version 0.93 (2024-02-29 09:29:23.096000)

updates: USD/MXN pair's performance provides insights into US economy

Version 0.92 (2024-02-28 09:25:18.851000)

updates: Incorporated information about the risks posed to the Mexican economy and peso by Donald Trump's possible re-election

Version 0.91 (2024-02-26 17:22:08.064000)

updates: Mexican Peso slips against US Dollar ahead of key data

Version 0.9 (2024-02-15 18:18:16.170000)

updates: Updated information on US retail sales and jobs data

Version 0.89 (2024-02-14 11:16:12.772000)

updates: Integration of Pimco's optimism for the peso

Version 0.88 (2024-02-13 01:30:55.789000)

updates: US inflation data could boost Mexican peso

Version 0.87 (2024-02-09 18:15:30.098000)

updates: Inclusion of information about the Mexican Peso's climb against the US Dollar following Banxico decision and US inflation data revision

Version 0.86 (2024-02-09 09:17:26.434000)

updates: Updates on US inflation revisions and their impact on Pound Sterling to Dollar exchange rate

Version 0.85 (2024-02-08 15:13:04.504000)

updates: Inclusion of new information about the Pound to Dollar exchange rate dipping below 1.26 due to strong U.S. economic growth and jobless claims data

Version 0.84 (2024-02-06 05:14:07.867000)

updates: The Pound to Dollar exchange rate faced headwinds last week as strong US data and hawkish central bank commentary boosted the US Dollar. The GBP/USD plummeted amid mixed data releases and a shifting market mood, ultimately leading to a firming of the US Dollar following optimistic jobs data. The Bank of England kept UK interest rates at a sixteen-year high of 5.25%, in line with market expectations. Looking ahead, the US ISM service PMI is set to be released on Monday, which could drive further movement in the USD. Additionally, a speech from Federal Reserve policymaker Raphael Bostic later that day may also impact the USD. With a data-light week for the UK, the Pound may trade based on risk sentiment and market reactions to last week's dovish hold on interest rates. The US dollar surged after strong US jobs data, pushing EUR/USD to 8-week lows around 1.0770 and GBP/USD to 1.2615. Fed Chair Powell's comments lowered the likelihood of a March rate cut to around 17%. Monday's focus is on ISM services data and banking sector health. Pound vulnerability remains tied to equity market pressures and BoE commentary on rate cut timelines. Traders will monitor near-term data for evidence on the overall economy and labor-market trends. The Reserve Bank of Australia is expected to hold interest rates at 4.35%. GBP/USD hit 10-day lows at 1.2600 on Monday. Bank of England chief economist Pill is likely to repeat that it is too early to consider a rate cut. The Dollar's strong start to the new week was given a fresh boost following the release of a U.S. economic survey that confirmed a strong start to the year. The U.S. ISM services PMI for January read at 53.4, up from December's 50.5 and surpassing the estimate for 52. The survey's employment index rose to 50.5 from 42.8, confirming the U.S. labor market is in good health. The data follows Friday's non-farm payroll report that exceeded estimates and reduced the likelihood of a March rate cut at the Fed. The Pound to Dollar exchange rate is now 1.75% lower at 1.2522, and the Euro to Dollar exchange rate is down 1.30% at 1.0728. HSBC predicts that the Dollar's strength will continue due to the ongoing strength of the U.S. economy relative to its peers. The strong U.S. data suggests that the Federal Reserve is unlikely to cut interest rates in the near future, which can support U.S. bond yields and the Dollar. The Pound US Dollar (GBP/USD) exchange rate tumbled on Thursday, hitting its lowest point since December last year. At the time of writing GBP/USD was trading at $1.2532, down approximately 0.7% from this morning’s opening rate. The US Dollar (USD) surged on Monday, following a notably hawkish shift in Chair Jerome Powell’s address over the weekend. Underpinning USD’s hawkish wins on Monday was a stronger-than-forecast ISM PMI survey. The Pound (GBP) was left rudderless on Monday, as a lack of economic data left GBP vulnerable to UK economic pessimism. In the wake of last week’s hold on interest rates, markets were shocked to see senior (BoE) policymakers express a dovish shift in their language surrounding this year’s upcoming interest rate decisions. Looking ahead, Fed policymaker Loretta J Mester is due to speak on Tuesday afternoon. Should Mester echo the increasingly hawkish narrative adopted by her cohorts in recent days, further support of restrictive monetary policy in the US may see the ‘Greenback’ rally. On Wednesday, the latest US trade data could also impact USD exchange rates. A slight widening of the US trade surplus may lend the ‘Greenback’ some support. Notable UK data remains in short supply for the remainder of the week, meaning GBP may be vulnerable to any shifts in market sentiment.

Version 0.83 (2024-02-05 17:11:57.311000)

updates: The US ISM service PMI is set to be released on Monday, which could drive further movement in the USD. Additionally, a speech from Federal Reserve policymaker Raphael Bostic later that day may also impact the USD. The Dollar's strong start to the new week was given a fresh boost following the release of a U.S. economic survey that confirmed a strong start to the year. The U.S. ISM services PMI for January read at 53.4, up from December's 50.5 and surpassing the estimate for 52. The survey's employment index rose to 50.5 from 42.8, confirming the U.S. labor market is in good health. The data follows Friday's non-farm payroll report that exceeded estimates and reduced the likelihood of a March rate cut at the Fed. The Pound to Dollar exchange rate is now 1.75% lower at 1.2522, and the Euro to Dollar exchange rate is down 1.30% at 1.0728. HSBC predicts that the Dollar's strength will continue due to the ongoing strength of the U.S. economy relative to its peers. The strong U.S. data suggests that the Federal Reserve is unlikely to cut interest rates in the near future, which can support U.S. bond yields and the Dollar.

Version 0.82 (2024-02-05 10:15:56.309000)

updates: US Dollar strengthens as Pound to Dollar exchange rate plummets

Version 0.81 (2024-02-05 05:16:02.152000)

updates: Updates on the Pound to Dollar exchange rate and upcoming events

Version 0.8 (2024-01-31 09:29:48.562000)

updates: Updates on UK lending data, US job-openings data, Bank of England interest rate decision, US GDP data, consumer confidence, JOLTS data

Version 0.79 (2024-01-26 08:55:52.578000)

updates: Updates on US GDP data and UK GDP data

Version 0.78 (2024-01-25 11:55:48.232000)

updates: Updates on US GDP growth rate and its impact on GBP/USD exchange rate

Version 0.77 (2024-01-15 20:18:45.467000)

updates: Pound to Dollar rate falls amid cautious trade

Version 0.76 (2024-01-13 10:18:54.205000)

updates: Mixed UK GDP data for November and decline in bond yields weigh on Pound

Version 0.75 (2024-01-12 09:20:39.646000)

updates: The Pound to Dollar exchange rate slumps following strong US data

Version 0.74 (2024-01-11 16:17:11.711000)

updates: The Pound to Dollar exchange rate dipped after U.S. inflation accelerated in December. Money markets further pared bets for an imminent interest rate cut at the U.S. Federal Reserve. The market now puts the chances of a rate cut at 67% versus over 90% just over a fortnight ago. The Pound-Dollar exchange rate is capped just above 1.28 for the foreseeable future. The central bank is not expected to start cutting rates due to inflation remaining sticky. [5a4d9541]

Version 0.73 (2024-01-11 10:18:53.575000)

updates: Sterling gains against the dollar ahead of US inflation data

Version 0.72 (2024-01-08 09:16:15.603000)

updates: Pound-to-Dollar rate extends recovery following FOMC minutes

Version 0.71 (2024-01-05 10:18:44.038000)

updates: Pound-to-Dollar rate extends recovery following FOMC minutes

Version 0.7 (2023-12-29 09:03:22.611000)

updates: Provides updated information on the retreat of the GBP/USD exchange rate from its five-month high

Version 0.69 (2023-12-24 18:59:02.979000)

updates: Includes outlook for 2024 and factors shaping the exchange rate

Version 0.68 (2023-12-18 08:04:10.176000)

updates: Exchange rate reaches three-month high after Bank of England's final interest rate decision

Version 0.67 (2023-12-12 23:08:48.693000)

updates: Updated information on job vacancies, US inflation, central bank decisions, and exchange rate forecasts

Version 0.66 (2023-12-11 09:17:02.566000)

updates: Technical setups and evolving expectations for central bank policy rates

Version 0.65 (2023-12-11 08:18:16.634000)

updates: Uncertainty surrounding central bank policies

Version 0.64 (2023-12-08 08:52:38.426000)

updates: Inclusion of information about US jobs data and Bank of England Governor's shift

Version 0.63 (2023-12-04 22:40:58.563000)

updates: Pound's decline against the Dollar due to rising geopolitical tensions

Version 0.62 (2023-11-29 13:48:29.708000)

updates: Includes information on market sentiment and the Pound to Dollar exchange rate

Version 0.61 (2023-11-29 12:39:50.959000)

updates: Updates on Pound's rise against Dollar, EU urging UK to rejoin, North Korea's claims

Version 0.6 (2023-11-24 09:49:12.240000)

updates: Updates on PMI data in the EU and UK, Pound's rise against Euro and Dollar

Version 0.59 (2023-11-24 07:08:34.964000)

updates: The GBP/USD exchange rate has retreated from its two-month high and is now trading near 1.2530. The UK's manufacturing PMI declined at a slower rate, while the services PMI entered growth territory. Weak demand and falling employment levels continue to impact the UK economy. The Bank of England's aggressive tightening has pushed inflation lower, but it remains above the 2% target. The markets are hopeful for rate cuts next year, although the BoE Governor Andrew Bailey has stated that there are no plans for rate cuts. The US Dollar is recovering due to the improvement in US Treasury yields. The increasing probability of no additional interest rate hikes by the Federal Reserve has fostered a risk-on sentiment. The US S&P Global PMI data is anticipated and could have an impact on the currency markets. The US manufacturing and services PMIs will be released on Friday, and if weaker than expected, the US dollar may slip. The GBP/USD was boosted by stronger-than-expected PMI data, pushing rates above 1.25.

Version 0.58 (2023-11-24 06:04:06.720000)

updates: GBP/USD pair gained 0.31% on Thursday, UK consumer confidence figures showed improvement

Version 0.57 (2023-11-24 03:04:07.367000)

updates: GBP/USD retreats after reaching two-month high

Version 0.56 (2023-11-24 02:14:18.268000)

updates: GBP/USD reaches 10-week high on upbeat UK PMI data

Version 0.55 (2023-11-23 20:04:35.882000)

updates: Revised title and integrated new information about the rebound in GBP/USD on strong UK PMI data and the currency pair reaching a 10-week high

Version 0.54 (2023-11-23 17:07:11.798000)

updates: GBP/USD hits ten-week high, UK PMIs improve business activity

Version 0.53 (2023-11-23 16:12:09.245000)

updates: GBP/USD rallies to 10-week high on positive UK PMIs

Version 0.52 (2023-11-23 12:14:58.602000)

updates: Sterling rallies to two-month high after upbeat data

Version 0.51 (2023-11-23 10:19:37.713000)

updates: The GBP/USD exchange rate declined on Wednesday due to positive US economic data, but recovered on strong UK PMI data

Version 0.5 (2023-11-23 06:58:01.932000)

updates: GBP/USD moves above 1.2500 level, additional information on US economic data, UK Autumn Statement, and cryptocurrency settlement

Version 0.49 (2023-11-23 03:57:25.385000)

updates: Updates on US economic data, UK Autumn Statement, PMI data, and Binance settlement

Version 0.48 (2023-11-22 17:04:56.200000)

updates: Updates on US inflation concerns and UK economic outlook

Version 0.47 (2023-11-22 11:57:55.927000)

updates: Sterling dips as dollar strengthens ahead of US economic data

Version 0.46 (2023-11-22 11:01:15.806000)

updates: Technical analysis of the GBP/USD currency pair

Version 0.45 (2023-11-22 10:57:44.444000)

updates: The story now includes information about the upcoming US economic data releases and the UK autumn budget announcement, as well as additional details about the monetary policy divergence between the Bank of England and the US Federal Reserve.

Version 0.44 (2023-11-18 09:04:51.588000)

updates: Added information about soft UK retail sales and its impact on GBP/USD exchange rate

Version 0.43 (2023-11-17 12:58:27.684000)

updates: The story has been updated with the latest information on soft UK retail sales and the US economic slowdown.

Version 0.42 (2023-11-17 11:16:24.451000)

updates: Added information about soft UK retail sales and its impact on GBP/USD exchange rate

Version 0.41 (2023-11-17 09:59:52.175000)

updates: Added information about soft UK retail sales and its impact on GBP/USD exchange rate

Version 0.4 (2023-11-16 17:42:29.947000)

updates: Updated information on US economic slowdown and expectations for Fed cuts

Version 0.39 (2023-11-16 10:51:26.755000)

updates: Updated information on risks to US economy and UK economy, technical analysis of GBP/USD

Version 0.38 (2023-11-13 10:05:20.801000)

updates: Restructured and enhanced content for improved clarity and impact

Version 0.37 (2023-11-13 08:39:34.681000)

updates: Restructured and enhanced the story for improved clarity and impact

Version 0.36 (2023-11-12 20:28:41.444000)

updates: Restructured and enhanced the narrative

Version 0.35 (2023-11-11 08:31:32.588000)

updates: Restructured and enhanced the narrative for clarity and impact

Version 0.34 (2023-11-10 14:31:56.802000)

updates: Restructured and enhanced the narrative for improved clarity and impact

Version 0.33 (2023-11-10 13:29:43.814000)

updates: Restructured the content for clarity and impact

Version 0.32 (2023-11-10 10:24:05.435000)

updates: Added details about the UK economy failing to grow in Q3

Version 0.31 (2023-11-09 09:23:51.400000)

updates: Added information about the UK economy weakening

Version 0.3 (2023-11-07 10:31:26.994000)

updates: Restructured the content for clarity and improved transitions

Version 0.29 (2023-11-07 09:23:57.652000)

updates: Restructured and enhanced the narrative for improved clarity and impact

Version 0.28 (2023-11-07 07:25:25.247000)

updates: Restructured and condensed the content for improved clarity and impact

Version 0.27 (2023-11-07 07:24:48.235000)

updates: Restructured and enhanced the narrative for improved clarity and impact

Version 0.26 (2023-11-06 18:26:42.236000)

updates: Restructured and enhanced the narrative for improved clarity and impact

Version 0.25 (2023-11-06 11:27:54.548000)

updates: Restructured and enhanced the narrative for improved clarity and impact

Version 0.24 (2023-11-06 10:33:17.005000)

updates: Restructured and combined information from multiple sources

Version 0.23 (2023-11-06 06:25:12.652000)

updates: Restructured and consolidated information for improved clarity and impact

Version 0.22 (2023-11-06 03:33:27.739000)

updates: Restructured and streamlined the information, eliminated repetitive points, maintained a clear and objective perspective on the events, and ensured a logical flow for enhanced reading and comprehension

Version 0.21 (2023-11-05 03:20:35.766000)

updates: Restructured and streamlined information, eliminated repetitive points, maintained a clear and objective perspective, ensured logical flow

Version 0.2 (2023-11-04 19:22:38.210000)

updates: Added information about GBP/USD weekly forecast and technical analysis

Version 0.19 (2023-11-03 17:34:24.700000)

updates: Restructured and streamlined information for clarity

Version 0.18 (2023-11-02 08:31:11.876000)

updates: Restructured and streamlined information, eliminated repetitive points, maintained clear and objective perspective

Version 0.17 (2023-11-01 10:35:09.102000)

updates: Combined information from multiple sources

Version 0.16 (2023-11-01 07:32:42.410000)

updates: Restructured and streamlined the information for a clearer narrative

Version 0.15 (2023-11-01 03:29:52.220000)

updates: The narrative has been restructured and streamlined to provide a comprehensive overview of the events and their impact on GBP/USD.

Version 0.14 (2023-10-31 17:31:10.902000)

updates: Restructured and streamlined information for enhanced reading and comprehension

Version 0.13 (2023-10-31 07:27:26.598000)

updates: The narrative has been restructured and streamlined to provide a comprehensive overview of the events.

Version 0.12 (2023-10-31 02:21:46.557000)

updates: Restructured and streamlined the information

Version 0.11 (2023-10-27 14:06:21.432000)

updates: The new narrative includes information about the US core PCE, UK inflation, and the influence of economic data and monetary policy on the Pound Sterling.

Version 0.1 (2023-10-27 09:09:57.971000)

updates: Updated title and included information about US airstrikes in Syria

Version 0.09 (2023-10-25 07:50:54.711000)

updates: Emphasized the positive impact of employment data on Pound Sterling despite grim economic outlook

Version 0.08 (2023-10-24 08:03:05.345000)

updates: The new narrative highlights the positive employment data and the potential impact on the Pound Sterling's performance.

Version 0.07 (2023-10-20 07:34:10.199000)

updates: Added information about Pound Sterling weakening and its impact on consumer spending

Version 0.06 (2023-10-20 06:34:17.323000)

updates: The new narrative includes information about the decline in retail sales and its contribution to the recession signals in the UK.

Version 0.05 (2023-10-14 05:28:32.205000)

updates: The UK jobs market signals a recession as the unemployment rate rises

Version 0.04 (2023-10-13 14:28:10.956000)

updates: Added information about troubles in the world economy and the risk of a global catastrophe

Version 0.03 (2023-10-13 13:42:43.970000)

updates: Added Jeremy Hunt's warning about deteriorating UK economy and updated information on potential recession

Version 0.02 (2023-10-12 10:38:16.762000)

updates: Incorporated information about the UK economy's risk of recession and its relation to the global economy and interest rates

Version 0.01 (2023-10-11 14:32:22.944000)

updates: Added information about the Bank of England nearing the end of raising interest rates and concerns about the British economy. Mentioned global scenarios of controlling post-pandemic inflation. Included updates on the Producer Price Index and building permits in Canada.

Version 0.0 (2023-10-11 07:25:20.634000)

updates: