The ECB raised rates 25 basis points, surprising many, but the impact was minimal due to the dovish narrative. The ECB raised rates but signalled this may be the end of rate rises, hitting ‘peak interest rates. This allowed equity markets to surge and recent bond yields rises to settle. The recessionary economic conditions within the Eurozone, did not need further interest rate rises, but renewed inflationary pressures required remedial action. The US equity market also rallied strongly, despite higher-than-expected PPI numbers, assuming the Fed has hit the ‘pause button’ on rate rises. Retail Sales in the US jumped more than expected and markets lapped up the sliver of good news. The ECB rate rise had the opposite effect on the currency, which fell to 1.0630, while the GBP slumped to 1.2400.
The stronger reserve pushed the commodity currencies, with the NZD testing the downside of 0.5900, while the AUD heads back towards 0.6400. Australian Unemployment was stable, holding around 3.7%, although it was a rise in part-time jobs that supported the overall rate. Local markets were supported by the Chinese Central Bank cutting rates by 25 basis points and adding much needed stimulus to the flagging economy.
欧洲央行加息 25 个基点，超过市场预期，但由于其随后发表鸽派言论，最终影响微乎其微。 欧洲央行虽然加息，但暗示这将是最后的加息，欧洲已经达到“利率峰值”。 这些言论导致股市飙升，债券收益率的上涨也得以平息。 欧元区经济本身处于衰退，不需要进一步加息也会收缩，但新的通胀压力继续出现，欧洲央行对此采取补救措施。 美国方面尽管 PPI 数据高于预期，市场却仍旧假设美联储9月会按下“暂停加息“按钮，美国股市也随欧洲强劲反弹。 美国零售销售数据好于预期，市场随后对此消息继续炒作。 从结果上看，欧洲央行加息并没有对货币汇率产生助力，反而因为之后的欧派言论产生了相反的影响，欧元跌至1.0630，而英镑则跌至1.2400。
美元继续走强，纽元测试下行0.5900，而澳元则回升至0.6400。 澳大利亚失业率数据稳定，保持在 3.7% 左右，主要是因为兼职工作的增加支撑了整体失业率。 中国央行昨夜降准25 个基点，为经济提供刺激措施，这点在预料之中，也会为当地资本市场提供一定支撑。
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