Bank of Japan: Despite the Bank of Japan raising its key interest rate by 25 bps to 1.00%, USD/JPY remains near 160, reflecting continued dollar strength and the rate hike being largely priced in by markets.
Oil Falls Below $80: Brent crude fell below $80 per barrel for the first time since March and ended down 5% at $79.40, as the U.S.-Iran agreement continued to reduce geopolitical risk premiums. Markets are increasingly pricing in the prospect of additional supply and the return of regular shipping routes through the Strait of Hormuz.
Federal Reserve in Focus: The S&P 500 rally paused, and U.S. Treasury yields moved lower ahead of the Federal Reserve's interest rate decision. The meeting marks the first Federal Reserve rate decision under Chair Kevin Warsh, with investors closely watching both the rate decision and accompanying commentary for signals on the Fed's approach to inflation and economic growth.
Central Banks Remain Key: With geopolitical tensions easing, market focus has shifted back toward monetary policy. Investors are preparing for a busy period of central bank decisions and key inflation data releases, with the Federal Reserve and Brazil's central bank scheduled to announce policy updates this week.
Economic Calendar
- U.S. Federal Reserve Interest Rate Decision
- Eurozone CPI
- Eurozone Core CPI
- UK CPI: 2.8% Y/Y
- UK Core CPI: 2.6% Y/Y
- Brazil Interest Rate Decision
Key Market Moves Today
- S&P 500 Futures: +0.23% (7,604)
- U.S. 10-Year Yield: -0.78 bps (4.43%)
- Brent Crude: -0.41% ($78.64)
- Bitcoin: -0.03% ($66,763)
- Spot Gold: -0.02% ($4,330)
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