Yesterdays

Yesterday, we saw some notable declines in US jobless claims and the ISM services PMI. Initial claims remain largely stable around their cycle lows and within the 200K to 250K range that has been established since 2022. This suggests that…

Core inflation at 0.4% month-on-month exceeded the expected 0.3%, reducing the likelihood of a June Fed rate cut.Market expectations for a June cut fell sharply from 15 basis points to just 5.5bp following the inflation report.A June cut…

Pound Sterling (GBP/USD, GBP/JPY) AnalysisGBP/USD looks to retain hard-fought gains as USD holds firm2-year Gilt yields open slightly lower but remain around yesterday’s highGBP/JPY has ambitious target in sight ahead of Japanese CPI data…