FTSE100 fortunes about to improve with hawkish Fed, dovish BoE & tight OPEC | MarketTalk: What’s up today? | Swissquote

Show notes

The Swiss National Bank (SNB) and the Bank of England (BoE) surprised by maintaining their rates unchanged at yesterday’s trading session. The Bank of Japan (BoJ) surprised by maintaining its ultra-lose monetary policy stance unchanged. Combined with a hawkish pause earlier this week, the major currencies further sank against the greenback. I think that the BoE decision was premature, and the bank will be obliged to hike more in the coming meetings.
But uf there is one bright spot in Britain, it is the FTSE100, supported by cheaper sterling and higher energy prices, as the US technology stocks are set to post their worst performance this year on the back of hawkish Federal Reserve (Fed) and rising yields – although the US 2-year yield is headed toward 5% mark, and bond traders bet that the Fed will announce a 3rd pause in November.
Elsewhere, there was no progress regarding a dealt between UAW and the Detroit automakers, which combined to a cheaper yen could further bolster appetite in Japanese carmakers.
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