Introducing Surge - Intelligent Book and Execution Optimisation Platform

This week’s central bank meetings are now behind us, and there are no real changes to expectations, with both the UK and US still forecast to cut rates twice more this year.

Last night’s Fed meeting was a fairly muted event. Rates were held as expected, and there was no change to the forecast of two rate cuts for the rest of the year, with October’s meeting pencilled in as the first.

Markets continue to price in a risk premium from Middle Eastern tensions after the sixth day of exchanged fire between Israel and Iran. Trump met with his national security team yesterday, fueling speculation that the US may join the attacks.