Market Minutes

Read snapshots of the latest market news

The BoE kept its interest rates unchanged; sterling weakens

The Bank of England (BoE) kept its benchmark interest rate unchanged at 4%, while slowing the pace of its quantitative tightening (QT) programme. Meanwhile, equity markets advanced across the board following the Federal Reserve’s (Fed) decision to cut interest rates.

Fed lowered interest rates; markets react mixed

The Federal Reserve decided to lower its interest rates by 25 basis points. The central bank’s economic estimates showed improvements in expected economic growth, while employment and inflation estimates for the end of 2025 remained unchanged. Stock markets in the US reacted mixed, while the Dollar Index closed up 0.4%.

Central banks in focus; diverging currency trends emerge

During the week, monetary policy decisions by several major central banks will be announced. On Wednesday, September 17, the Federal Reserve and the Bank of Canada will present their benchmark rate decisions. Meanwhile, on Thursday 18 and Friday 19 it will be the turn of the Bank of England and the Bank of Japan, respectively.

Gold prices hit fresh record as fed rate cut bets build

Gold hits record near $3,660 as weak US jobs data boosts Fed rate-cut bets. Dollar slips, euro pressured by French political turmoil.

ECB expected to pause as fed looks to us inflation data

The European Central Bank (ECB) is widely expected to keep rates unchanged this week, while the Federal Reserve faces growing pressure ahead of key U.S. inflation releases. Global markets remain sensitive to signs of monetary policy shifts, with investors watching Europe, the U.S., and Asia for clues on growth and price dynamics.

ADP report below expectations; market awaits NFP

The ADP showed softer private hiring alongside higher jobless claims, sharpening the focus on Friday’s payrolls. ISM services surprised to the upside, while crude eased on a surprise inventory build and potential OPEC+ supply.

Ruling against U.S. tariffs sends equities lower; gold hits record highs

U.S. stocks fell after a federal appeals court declared most of President Trump’s tariffs illegal, even as enforcement remains in place pending Supreme Court review. Elevated uncertainty lifted volatility and propelled gold to a fresh all-time high.

European stocks up, China recovers, eyes on job data

European equities advanced after the U.K.–Norway £10 billion defense deal, while China’s stronger PMIs and Alibaba’s cloud-driven outlook lifted risk appetite. Attention now turns to U.S. employment data for clues on the Federal Reserve’s next steps.

Markets correct after core PCE uptick; court ruling clouds Trump tariffs

U.S. and European equities fell as firmer core PCE data stoked concerns that tariffs are feeding into inflation, while a federal appeals court ruling cast doubt over President Donald Trump’s trade program. Risk premia rose across assets as investors weighed a difficult mix of monetary and trade uncertainty.

GDP revision and AI optimism drive U.S. markets higher

A stronger second estimate of U.S. GDP and softer jobless claims helped lift U.S. equities back toward record highs. Investors now await the PCE Price Index for clarity on the Fed’s next steps, while surging AI demand continues to underpin tech sentiment.