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Market Moving News
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| Intra-day Market Moving News |
| 24 Apr 2025 |
16:06 |
EUR/USD - 1.1361... LSEG news, citing source from Bloomberg news :
- ECB drafts plan for more nimble policy moves after inflation pain
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| 24 Apr 2025 |
16:05 |
GBP/USD - 1.3309... LSEG news, in an interview with CNBC, Bank of England's Governor Bailey says :
- we see impact of tariff uncertainty coming through to business investment and consumers
- impact of tariffs on exchange rates has not been that large for UK
- we are focused on the growth shock from tariffs
- I don't think UK economy is close to recession
- last GDP data was quite encouraging
- weak PMI data reflects companies' uncertainty
- talk about potential loss of dollar reserve currency status is overdone
- I hope upcoming UK inflation bump will be transitory
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| 24 Apr 2025 |
14:14 |
USD/MAJORS... LSEG news, in an interview with Bloomberg, Fed's Waller continues to say :
- still strongly believes tariffs will be one time price level effect
- demand slowdown from tariffs would offset some inflation impact
- it's going to take courage to stare down tariff price increases and see them as transitory
- I'm willing to look through tariff price increases
- rate cuts could come from rising unemployment
- Fed will look at data to determine policy moves
- data focus brings risk of being late on policy action
- tries to ignore political issues, keep focus on Fed's mission
- President is free to say what he wants about Fed
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| 24 Apr 2025 |
14:11 |
USD/MAJORS... LSEG news, in an interview with Bloomberg, Fed's Waller says :
- tariffs are part of most economic debates now
- general tone is many companies are frozen by tariff uncertainty
_ firms are trying to see how to navigate tariffs
- I wouldn't surprise me to see more layoffs, higher unemployment
- smaller tariffs will have modest pass through
- we need better control of budget deficit
- no obvious reason why tariffs should be off table as part of fiscal debate
- not likely by July there will be clear tariff impacts yet
- easiest place to offset tariff costs is by cutting payrolls
- send half of year will bring clarity on tariff impact
- less level of unemployment but speed of change that's focus
- it's possible tariffs could push up unemployment quickly
- struggle over last 18 months has been uneven inflation progress
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| 24 Apr 2025 |
14:10 |
GBP/USD - 1.3317... LSEG then reported the Bank of England is midway through its work in responding to a major review of its forecasting and communication processes, Deputy Governor Clare Lombardelli said on Thursday.
The review, published a year ago and authored by former U.S. Federal Reserve Chair Ben Bernanke, recommended sweeping changes to the BoE's communications and analytical capabilities.
"We are midway through this process," Lombardelli told a panel in Washington hosted by the Peterson Institute for International Economics, a U.S. think tank, on the sidelines of the International Monetary Fund's spring meetings.
The BoE has already started to introduce economic scenarios as a way of showing how policy would operate an increasingly uncertain world.
Lombardelli said the BoE was keen not to cloud the picture by "creating lightning rods of focus for particular examples", and avoid the risk that offering scenarios might in itself add to uncertainty.
How best to communicate uncertainty was now at the forefront of the BoE's thinking, she said, adding that other disciplines such as healthcare during the COVID-19 pandemic offered lessons for the central bank.
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| 24 Apr 2025 |
13:33 |
GBP/USD - 1.3305... LSEG news, Bank of England's Lombardelli says :
- prudent to assume more frequent and larger shocks in future
- there is a case for including wider range of scenarios in forecasting
- we are midway through process of responding to Bernanke review
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| 24 Apr 2025 |
13:15 |
EUR/UD - 1.1377... LSEG news, ECB's Lane says :
- QE to only be used at lower bound
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| 24 Apr 2025 |
12:58 |
EUR/USD - 1.1373... LSEG reported an agreement between the European Union and the United States on tariffs is possible in the 90-day period given by President Donald Trump's administration, German Finance Minister Joerg Kukies said on Thursday in Washington.
Kukies added that a world with countries with high tariffs -referring to trade barriers between the U.S. and China - and others with low tariffs would lead to large economic inefficiencies.
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| 24 Apr 2025 |
12:57 |
USD/MAJORS... LSEG then reported Federal Reserve Bank of Cleveland President Beth Hammack on Thursday called for patience on monetary policy amid high levels of uncertainty, and did not rule out monetary policy changes by June if the data suggested action was needed.
¨We'll be watching the data carefully and I enter every meeting with an open mind about whether it's a time that we should be continuing to be patient, or a time that we should take action,? Hammack said in an interview on CNBC. ¨If we have clear and convincing data by June, then I think you'll see the committee move, if we know which way is the right way to move at that point in time,? she said.
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| 24 Apr 2025 |
12:37 |
USD/MAJORS... LSEG news, in an interview with CNBC, Fed's Hammack says :
- uncertainty is really weighing on businesses and their planning
- we don't know yet what uncertainty and trade policy will do to economy
- doesn't have base case right now, is looking at scenarios for economy
- lots of different scenarios ahead of economy
- Fed needs to be patient, it's too soon to change rates
- seeing good things in hard data, softer data is an issue
- Fed will move quickly if it needs to
- when it's clear where economy is going, Fed will act
- watches markets for their impact on real economy
- over recent weeks, markets clearly volatile but functional
- U.S. economy is very resilient
- with economy, many different paths lie ahead
- enters every FOMC meeting with open mind
- Fed could move in June if data is clear about economy's state
- lower stocks, bonds, dollar trade should be monitored
- Fed will focus on data while making policy
- it's possible Trump's view on Fed Chair could affect data
- independent central banks deliver better outcomes, markets recognize this
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| 24 Apr 2025 |
12:36 |
EUR/USD - 1.1367... LSEG news, in an interview with Bloomberg news, ECB's Lane says :
- doesn't expect trade fallout to trigger recession
- "there's no reason to say we're always going to do the default 25" basis-point moves
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| 24 Apr 2025 |
12:33 |
USD/MAJORS... LSEG reported the number of Americans filing new applications for unemployment benefits rose marginally last week, suggesting the labor market remains resilient despite darkening clouds over the economy caused by tariffs on imported goods.
Initial claims for state unemployment benefits increased 6,000 to a seasonally adjusted 222,000 for the week ended April 19, the Labor Department said on Thursday. Economists polled by Reuters had forecast 222,000 claims for the latest week.
The data included the Good Friday holiday, which was later this year compared to 2024. Claims tend to be volatile around moving holidays. They could also have been influenced by spring breaks which occur at different times across the states.
Economists expect President Donald Trump's often erratic trade policy will at some point this year weaken the labor market. Business confidence has deteriorated and financial conditions have tightened, leaving companies reluctant to hire more workers.
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| 24 Apr 2025 |
12:32 |
EUR/USD - 1.1369... LSEG reported tariffs pose a "significant" risk to growth in the euro zone's largest economy Germany, ECB policymaker Joachim Nagel said in Washington on Thursday.
"We are relatively certain that the impact on inflation in the U.S. will be stronger than in the euro zone," Nagel said of the sweeping tariff regime under U.S. President Donald Trump.
"As far as economic growth is concerned, which of course also depends on the level of the respective tariffs, the impact in Europe will also be significant for Germany," he added.
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| 24 Apr 2025 |
08:02 |
EUR/USD - 1.1386... LSEG reported German business morale unexpectedly rose in April, a survey showed on Wednesday.
The Ifo institute said its business climate index rose to 86.9 in April from 86.7 in March.
Analysts polled by Reuters had forecast a decrease in the reading to 85.2.
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| 24 Apr 2025 |
07:12 |
USD/MAJORS - LSEG reported China and the U.S. have not held consultations or negotiations on tariffs, a Chinese foreign ministry spokesperson said on Thursday when asked to confirm reports about such talks.
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