上周结束时，“特朗普反弹”势头消退，股市从近期创下的历史高点回落，美国债券收益率恢复上涨。美联储主席鲍威尔在最新讲话中态度鸽派，承认新政府强有力的促增长政策将使美联储能够以更从容的步伐降息。自美联储开始降息周期以来，美国债券收益率不断上升，这证明市场从一开始就不相信美联储的诚意。鲍威尔将面临极大的政治压力，因为特朗普不喜欢加息，因为这会阻碍预期的经济繁荣。特朗普在其上一届总统任期内明确表示了这一点，这次他可能不想让美联储破坏他的派对。特朗普任命罗伯特·肯尼迪 (RFK) 为卫生与公众服务部部长，这对“大型制药公司”的股票来说是毒药，导致其股价在周五的交易中暴跌。美元保持强势，欧元在 1.0550 附近徘徊，而英镑则暴跌至 1.2620。英国 GDP 增长数据乏善可陈，经济重新陷入衰退，而工业和制造业生产则继续萎缩，工党政府的预算正在结出不良果实。
强劲的美元打压商品货币，澳元交易价格约为 0.6450，而新西兰元则暴跌至 0.5850。美国债券收益率上升和美联储看跌的立场支撑了储备的持续增长。本周将关注通胀和增长，而中国央行将做出最新的利率决定。
The ‘Trump Rally’ faded, to close out the week, with equities coming off recent record highs and US Bond Yields resuming the rise. The Fed Chairman Powell was dovish in his latest speech, recognising the new administrations strong pro-growth policies, would allow the Fed to cut rates at a more leisurely pace. The US rising bond yields since the Fed began the rate cutting cycle, was evidence the markets were not convinced as to the Fed’s sincerity, in the first place. Powell will be under extreme political pressure, as Trump is not a fan of elevated interest rates, holding back the projected economic boom. Trump made this clear in his last term of Presidency and is probably not in the mood to allow the Fed to spoil his party, this time around. Trump appointed RFK to Health and Human Services, and this was poison to ‘Big Pharma’ stocks, plunging in Friday’s trade. The US Dollar remains strong, with the EUR floundering around 1.0550, while the GBP plunged to 1.2620. The UK GDP growth number was insipid and puts the economy back towards recession territory, while Industrial and Manufacturing Production, continues to contract. The Labour Governments budget is bearing rotten fruit.
The strong reserve pummels the commodity currencies, with the AUD trading around 0.6450, while the NZD crashed to 0.5850. The relentless rise of the reserve is supported by elevated US Bond Yields and a bearish Federal Reserve. This coming week will look at inflation and growth, while the Bank of China makes their latest interest rate decision.
强劲的美元打压商品货币，澳元交易价格约为 0.6450，而新西兰元则暴跌至 0.5850。美国债券收益率上升和美联储看跌的立场支撑了储备的持续增长。本周将关注通胀和增长，而中国央行将做出最新的利率决定。
The ‘Trump Rally’ faded, to close out the week, with equities coming off recent record highs and US Bond Yields resuming the rise. The Fed Chairman Powell was dovish in his latest speech, recognising the new administrations strong pro-growth policies, would allow the Fed to cut rates at a more leisurely pace. The US rising bond yields since the Fed began the rate cutting cycle, was evidence the markets were not convinced as to the Fed’s sincerity, in the first place. Powell will be under extreme political pressure, as Trump is not a fan of elevated interest rates, holding back the projected economic boom. Trump made this clear in his last term of Presidency and is probably not in the mood to allow the Fed to spoil his party, this time around. Trump appointed RFK to Health and Human Services, and this was poison to ‘Big Pharma’ stocks, plunging in Friday’s trade. The US Dollar remains strong, with the EUR floundering around 1.0550, while the GBP plunged to 1.2620. The UK GDP growth number was insipid and puts the economy back towards recession territory, while Industrial and Manufacturing Production, continues to contract. The Labour Governments budget is bearing rotten fruit.
The strong reserve pummels the commodity currencies, with the AUD trading around 0.6450, while the NZD crashed to 0.5850. The relentless rise of the reserve is supported by elevated US Bond Yields and a bearish Federal Reserve. This coming week will look at inflation and growth, while the Bank of China makes their latest interest rate decision.
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