July 2023 - SCOPE MARKETS Blog

Bank of England preview: Will Bailey surprise markets with another 50bp hike?

The Bank of England announce their latest monetary policy decision on Thursday 3 August, with markets widely expecting to see rates raised further in a bid to drive down inflation. This article takes a look at the key elements of this announcement and considers how to trade it. The UK remains the problem child of […]

by Joshua Mahony
1 year ago

FX outlook – USD, EUR, GBP, CAD, AUD, NZD

USD The US dollar finished the previous week strong against other major currencies spurred by strong economic growth which means a recession could be avoided despite aggressive tightening by the Fed. The latest quarterly GDP report indicated the economy expanded by about 2.4%, beating estimates with inflation gradually easing off. Also, unemployment claims dropped from […]

by Joshua Mahony
1 year ago

Earnings week preview: Apple, Amazon, and Shopify bring consumer focus

Amazon’s web service growth comes into question Amazon.com is scheduled to release its Q2 results on Thursday (3 August), with markets hoping to see revenues and earnings tick higher after a better-than-expected Q1. Coming off the back of a year that saw earnings essentially disappear, things are looking up for the retail and tech giant. […]

by Joshua Mahony
1 year ago

Will the Bank of Japan move to adjust YCC policy?

The Bank of Japan announce their July monetary policy decision on Friday 27 July, with traders keeping a close eye out for signs of any shift from Ueda and the committee. Coming off the back of Federal Reserve and ECB meetings that saw markets attempt to gauge where the tightening would end, traders of the […]

by Joshua Mahony
1 year ago

ECB Preview: Another 25bps on the table

The European Central Bank (ECB) will be meeting on Thursday for its policy announcement and it’s expected the interest rates will be raised by another quarter points (25bps) which will take its main refinancing rate to 4.25% as the central bank aims to combat red-hot inflation around the zone. As it stands, the ECB will […]

by Adegbotolu Kehinde Erastus
1 year ago

FOMC preview: rate hike expected, but will we see another by year-end

The Federal Reserve reconvenes this week for a meeting that has been speculated to potentially bring the final rate hike of this cycle. Talk of terminal rates and dovish turns have been abound over the past six months but sticky inflation has proven a worthy adversary for many of the major central banks. The two-day […]

by Joshua Mahony
1 year ago