{"id":13137,"date":"2024-06-21T07:37:18","date_gmt":"2024-06-21T06:37:18","guid":{"rendered":"https:\/\/cambridgecurrencies.com\/?p=13137"},"modified":"2024-06-23T17:10:54","modified_gmt":"2024-06-23T16:10:54","slug":"boe-holds-steady-japanese-inflation-surprises-uk-retail-sales-surge","status":"publish","type":"post","link":"https:\/\/cambridgecurrencies.com\/boe-holds-steady-japanese-inflation-surprises-uk-retail-sales-surge\/","title":{"rendered":"BoE Holds Steady, Japanese Inflation, UK Retail Sales Surge"},"content":{"rendered":"\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-core-columns-is-layout-954ec4bb wp-block-columns-is-layout-flex\" style=\"padding-right:var(--wp--preset--spacing--40);padding-left:var(--wp--preset--spacing--40)\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" height=\"1024\" width=\"1024\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/cambridgecurrencies.com\/wp-content\/uploads\/2024\/06\/Market-Comment-30-1024x1024.png?resize=1024%2C1024&#038;ssl=1\" alt=\"A market comment on a news paper style format including all text and a picture of bank of England bank notes \" class=\"wp-image-13139\" style=\"aspect-ratio:3\/4;object-fit:cover\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h1 class=\"wp-block-heading\">BoE Holds Steady, Japanese Inflation Surprises, UK Retail Sales Surge <\/h1>\n\n\n\n<p><strong>Yesterday: <\/strong>Saw the <strong>Bank of England<\/strong> take<strong> interest rates<\/strong> to <strong>5.25%<\/strong>, a fully expected step that did not surprise after the May cut., The voting record in June was the most divided seen so far, with some members starting to indicate a target for lower rates amid concerns over growth.<\/p>\n\n\n\n<p>In the early hours of this morning we has <strong>Japanese Inflation <\/strong>rate that came out at<strong> 2.8% <\/strong>over April, higher than the market anticipated at 2.5%.<\/p>\n\n\n\n<p>Followed by <strong>UK Retail Sales <\/strong>for May increased by <strong>2.9%<\/strong> from the previously revised figure for April, which was at -1.8%. This number beats the consensus expectation of 1.5% and a projection of 1.6%, suggesting strong consumer spending.<\/p>\n\n\n\n<p>Eurozone, Germany and UK <strong>PMI <\/strong>data will also be released later today between 8.30 and 9.30, expect some volatility if data is either side of forecast.<\/p>\n\n\n\n<p>The <strong>GBP\/USD<\/strong> pair is trading at around <strong>1.2669<\/strong>, reflecting a slight increase of 0.09% for the day. The pair has fluctuated with today\u2019s high reaching 1.26747 and the low at 1.26548.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button has-custom-width wp-block-button__width-100 has-custom-font-size has-small-font-size\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/cambridgecurrencies.com\/contact\/\">Speak with Trader<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Global Economic Indicators<\/strong>: <\/h2>\n\n\n\n<p>There are mixed signals from global markets. While the U.S. is experiencing a modest economic recovery, China&#8217;s economic outlook appears to be improving, bolstered by recent positive data from JPMorgan Chase. This could have favourable implications for global trade and investment\u200b (<a href=\"https:\/\/www.investing.com\/economic-calendar\/\" target=\"_blank\" rel=\"noreferrer noopener\">Investing.com<\/a>)\u200b\u200b (<a href=\"https:\/\/fred.stlouisfed.org\/releases\/calendar\" target=\"_blank\" rel=\"noreferrer noopener\">FRED<\/a>)\u200b.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Market Reactions<\/strong>:<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Stock Market<\/strong>: U.S. stocks are poised for a cautious open following a volatile session where the S&amp;P 500 briefly surpassed the 5,500 milestone. Nvidia\u2019s recent performance continues to drive tech stocks, but profit-taking is expected after significant gains\u200b (<a href=\"https:\/\/ph.investing.com\/news\/latest-news\" target=\"_blank\" rel=\"noreferrer noopener\">Investing.com Philippines<\/a>)\u200b.<\/li>\n\n\n\n<li><strong>Oil Prices<\/strong>: Oil markets are seeing a slight dip after reaching seven-week highs, driven by optimism around summer demand and concerns over geopolitical tensions\u200b (<a href=\"https:\/\/www.investing.com\/economic-calendar\/\" target=\"_blank\" rel=\"noreferrer noopener\">Investing.com<\/a>)\u200b\u200b (<a href=\"https:\/\/fred.stlouisfed.org\/releases\/calendar\" target=\"_blank\" rel=\"noreferrer noopener\">FRED<\/a>)\u200b.<\/li>\n\n\n\n<li><strong>Forex Market<\/strong>: The U.S. dollar remains strong, particularly against the yen, as global markets adjust to the Federal Reserve&#8217;s stance on maintaining higher interest rates to combat inflation\u200b (<a href=\"https:\/\/www.investing.com\/economic-calendar\/\" target=\"_blank\" rel=\"noreferrer noopener\">Investing.com<\/a>)\u200b.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Corporate Developments<\/strong>:<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Boeing<\/strong>: Boeing is reportedly nearing a deal to repurchase Spirit AeroSystems, which is expected to streamline its supply chain and improve production efficiency\u200b (<a href=\"https:\/\/ph.investing.com\/news\/latest-news\" target=\"_blank\" rel=\"noreferrer noopener\">Investing.com Philippines<\/a>)\u200b.<\/li>\n\n\n\n<li><strong>SoftBank<\/strong>: CEO Masayoshi Son has reaffirmed the company&#8217;s ambitious goals in artificial superintelligence, aiming to leverage technological advancements for broad societal benefits\u200b (<a href=\"https:\/\/www.investing.com\/economic-calendar\/\" target=\"_blank\" rel=\"noreferrer noopener\">Investing.com<\/a>)\u200b.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>BoE Holds Steady, Japanese Inflation Surprises, UK Retail Sales Surge Yesterday: Saw the Bank of England take interest rates to 5.25%, a fully expected step that did not surprise after the May cut., The voting record in June was the most divided seen so far, with some members starting to indicate a target for lower [&hellip;]<\/p>\n","protected":false},"author":244711593,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[97],"tags":[50518720,50518592,50518719,50518724,50518731,50518696,50518713,50518642,50518600,50518605,50518711,50518704,50518714,50518722,50518718,50518608,50518727,50518597,50518612,50518645,50518717,50518712,50518709,50518593,50518635,50518595,50518626,50518728,50518644,50518620,50518716,50518610,50518726,50518599,50518710,50518725,50518730,50518604,50518715,50518723,50518721],"class_list":["post-13137","post","type-post","status-publish","format-standard","hentry","category-market-insight","tag-fedspeeches","tag-interestrates-bankofengland-benbroadbent-globaleconomy-inflation-fedspeeches-cpi-eurozone-financialmarkets-economicoutlook","tag-rba","tag-boe","tag-bonds","tag-centralbank","tag-christinelagardfe","tag-currencytrading","tag-ecbspeech","tag-economicdata","tag-economicnews","tag-economicoutlook","tag-economictrends","tag-economy","tag-finacialmarketds","tag-finacialnews","tag-finance","tag-forex","tag-forexanalysis","tag-forexmarket","tag-forexupdates","tag-frenchelections","tag-gbpeur","tag-gbpusd","tag-globaleconomy","tag-inflation","tag-interestrates","tag-investing","tag-investment","tag-marketupdate","tag-marketvolatility","tag-monetarypolicy","tag-newzealandgdp","tag-nzd","tag-politicaluncertainty","tag-retailspriceindex","tag-stocks","tag-trading","tag-tradingstraegies","tag-ukinflation","tag-usd"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pfpkhv-3pT","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/cambridgecurrencies.com\/wp-json\/wp\/v2\/posts\/13137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cambridgecurrencies.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cambridgecurrencies.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cambridgecurrencies.com\/wp-json\/wp\/v2\/users\/244711593"}],"replies":[{"embeddable":true,"href":"https:\/\/cambridgecurrencies.com\/wp-json\/wp\/v2\/comments?post=13137"}],"version-history":[{"count":8,"href":"https:\/\/cambridgecurrencies.com\/wp-json\/wp\/v2\/posts\/13137\/revisions"}],"predecessor-version":[{"id":13358,"href":"https:\/\/cambridgecurrencies.com\/wp-json\/wp\/v2\/posts\/13137\/revisions\/13358"}],"wp:attachment":[{"href":"https:\/\/cambridgecurrencies.com\/wp-json\/wp\/v2\/media?parent=13137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cambridgecurrencies.com\/wp-json\/wp\/v2\/categories?post=13137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cambridgecurrencies.com\/wp-json\/wp\/v2\/tags?post=13137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}