The post Slightly dovish jobs data – ING appeared on BitcoinEthereumNews.com. This morning’s UK jobs report was mildly dovish. Private sector wage growth, a key BoE metric, undershot expectations, falling to 4.4% YoY, ING’s FX analyst Francesco Pesole notes. November BoE cut now looks unlikely “In level terms, the past three months have been consistently more benign, with the 3M annualised rate now at 2.4%. We expect the annual rate to drop to 3.7% by December – matching the BoE’s own forecast. Given wage growth has consistently overshot in recent years, simply seeing these numbers materialise would help ease concerns about upside inflation risks.” “The slight fly in the ointment is public sector pay, which was hot in the latest month. But this reflects the current expansive fiscal stance, and the upcoming budget should make clear that this won’t be repeated next year. Separately, unemployment nudged higher. While data quality issues persist, the ONS notes improvements. The trend remains consistent with payroll data: a steady cooling in the labour market and ongoing wage moderation.” “A November BoE cut now looks unlikely. But December – after the Autumn Budget – is more in play than markets are pricing. Our forecast remains for the next cut in February, allowing the Bank one more inflation and jobs print. Pricing for a December cut increased from 7bp to 9bp, and 2-year GBP swap rates are down 4bp after this morning’s release. EUR/GBP has rallied above 0.870, although further gains are set to face the drag of more French political noise.” Source: https://www.fxstreet.com/news/gbp-slightly-dovish-jobs-data-ing-202510140841The post Slightly dovish jobs data – ING appeared on BitcoinEthereumNews.com. This morning’s UK jobs report was mildly dovish. Private sector wage growth, a key BoE metric, undershot expectations, falling to 4.4% YoY, ING’s FX analyst Francesco Pesole notes. November BoE cut now looks unlikely “In level terms, the past three months have been consistently more benign, with the 3M annualised rate now at 2.4%. We expect the annual rate to drop to 3.7% by December – matching the BoE’s own forecast. Given wage growth has consistently overshot in recent years, simply seeing these numbers materialise would help ease concerns about upside inflation risks.” “The slight fly in the ointment is public sector pay, which was hot in the latest month. But this reflects the current expansive fiscal stance, and the upcoming budget should make clear that this won’t be repeated next year. Separately, unemployment nudged higher. While data quality issues persist, the ONS notes improvements. The trend remains consistent with payroll data: a steady cooling in the labour market and ongoing wage moderation.” “A November BoE cut now looks unlikely. But December – after the Autumn Budget – is more in play than markets are pricing. Our forecast remains for the next cut in February, allowing the Bank one more inflation and jobs print. Pricing for a December cut increased from 7bp to 9bp, and 2-year GBP swap rates are down 4bp after this morning’s release. EUR/GBP has rallied above 0.870, although further gains are set to face the drag of more French political noise.” Source: https://www.fxstreet.com/news/gbp-slightly-dovish-jobs-data-ing-202510140841

                                                                               Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday.                     The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction.  “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more