ECB's de Guindos: 2% price goal to be reached sooner than laterUS MBA mortgage applications w.e. 16 May -5.1% vs +1.1% priorECB's Kazaks: The ECB will soon reach terminal rate if baseline holdsECB's de Guindos: Equity valuations are high, credit spreads out of sync with riskTraders trim bets on BoE easing favouring just one rate cut in 2025UK April CPI +3.5% vs +3.3% y/y expectedFX option expiries for 21 May 10am New York cutJapan's super-long bond yields continue to surge to record highsWhat are the main events for today?
Calling today's session boring would be an euphemism. The newsflow was extremely limited and we got no data other than the UK CPI report. The UK inflation figures beat expectations by a big margin and triggered a repricing in interest rates expectations with the market now favouring just one rate cut in 2025.
In the final part of the session we also got the news that Republicans have reached an agreement to increase the state and local tax (SALT) deduction to $40,000, which was one of the final hurdles holding up Trump's "big, beautiful bill". The House Speaker has also said that they could vote on the bill tonight.
This article was written by Giuseppe Dellamotta at www.forexlive.com. Read More Details
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