ANZ Group said Non-Executive Director Graham Hodges will retire from the boards of Australia and New Zealand Banking Group Limited and ANZ BH PTY LTD on 8 February, concluding the three-year term he began in 2023. Chairman Paul O’Sullivan thanked Hodges for his “enormous contribution,” noting his long history with the bank and extensive experience in financial services.  Hodges previously spent 27 years at ANZ before retiring from executive roles in 2018, serving in senior leadership positions including Deputy Chief Executive Officer for nine years, as well as roles as CFO, Head of HR, Head of Operations and CEO Australia. He also led ANZ’s New Zealand business between 2005 and 2009 as Chief Executive Officer and director of ANZ National Bank Limited.  His return to the group as a non-executive director in 2023 followed ANZ’s move to a non-operating holding company structure, separating its banking and non-banking activities. O’Sullivan said Hodges’ knowledge of the organisation had been “particularly beneficial” to the board.  The post ANZ Board Member Graham Hodges to Retire After Three-Year Term appeared first on LeapRate.

eToro has rolled out a suite of public APIs designed to let developers and data specialists build customised trading tools directly on top of its investing platform.  The company said the launch opens the door to advanced automation, analytics and AI-powered applications, which can integrate seamlessly with eToro’s trading ecosystem. The new APIs allow users to design automated trading strategies, portfolio-rebalancing systems, performance dashboards and real-time market-monitoring tools across asset classes, including equities, crypto and ETFs.  Developers can also build deeper analytical insights around eToro’s Pro Investors and Smart Portfolios. eToro stated that the platform expansion will evolve further with the introduction of an upcoming app store, where users will be able to share and distribute custom-built tools to millions of investors. API keys are now available via the platform’s web settings, and detailed documentation has been published on eToro’s developer portal to guide builders through integration. The company said the tools are aimed at both seasoned developers and newcomers experimenting with data-driven or AI-assisted workflows. The launch marks one of eToro’s most significant steps to date in opening its infrastructure to external innovation, as trading platforms increasingly look to tap into the developer ecosystem. The post eToro Launches Public APIs to Let Developers Build Custom Trading Tools appeared first on LeapRate.

eToro has partnered with Amundi to launch an investment portfolio designed to capture long-term opportunities across major global megatrends, while maintaining broad exposure to equity markets.  The new Key Themes & Convictions Portfolio combines Amundi’s ETFs with an allocation framework intended to balance traditional market exposure with forward-looking thematic investing. Gil Shapira, eToro’s chief investment officer, said the partnership gives users access to a portfolio that not only follows market trends but “positions them at the forefront of themes redefining tomorrow.”  He described it as a convenient and diversified solution for investors seeking innovation alongside stable growth. Around two-thirds of the portfolio consists of broad equity exposure shaped by Amundi’s strategic and tactical market views.  The remaining allocation targets three long-term themes: environment and resources, social and demographic change, and technology. Sub-themes include AI, robotics, water management, healthcare, ageing populations, emerging markets and natural resources. Alongside the new portfolio, eToro has added 120 Amundi ETFs to its platform, covering equities, fixed income and commodities. The move expands eToro’s Smart Portfolios range, which offers diversified long-term exposure to major investment themes, with entry starting from $500. The post eToro and Amundi Launch Strategic Equity Portfolio appeared first on LeapRate.

Tomoharu Furuichi has stepped down as representative director and CEO of IG Japan after nearly seven years in the role, marking the end of what he described as a challenging but rewarding period of growth for the business. In a personal announcement on LinkedIn, Furuichi said he left the position at the end of January. During his tenure, IG Japan became “several times bigger than it used to be,” he wrote, adding that the firm is now the largest foreign-branded retail broker in Japan despite specialising in the smaller segment of OTC derivatives.  Furuichi said he had “given all I could” and that it was time for new leadership. He thanked colleagues, supervisors and global CEOs he worked with across IG Group, noting the many “ups and downs, cliffs and tunnels” throughout his leadership journey.  Before IG, Furuichi held senior roles across consulting, Japanese public companies and international brands, and said he had been “fortunate to help the phase changes happen” across multiple organisations. Looking forward, Furuichi said he has taken on a role as a non-executive director at HR technology company Kaonavi, calling it a fresh challenge and an opportunity to contribute in a different capacity.  The post IG Japan Chief Tomoharu Furuichi Steps Down appeared first on LeapRate.

Circle has partnered with Polymarket in a move aimed at strengthening settlement standards across on-chain financial markets.  The agreement will see the world’s largest prediction market shift from using bridged USDC on Polygon to native USDC, which is issued directly by Circle’s regulated affiliates and redeemable 1:1 for U.S. dollars. The transition is expected to take place in the coming months and is designed to improve capital efficiency, scalability and institutional alignment as Polymarket expands.  Circle, which operates one of the world’s leading internet financial platforms, feels the collaboration reflects broader demand for dollar-denominated digital settlement. Jeremy Allaire, co-founder and CEO of Circle, said the company’s infrastructure was built to ensure that “money and capital work at the speed of the internet.”  He added that Polymarket has led the way in linking rapid information flow with fast, transparent markets. Polymarket CEO Shayne Coplan described USDC as critical to reinforcing market integrity as user participation grows. He believes partnering with Circle will help establish a consistent settlement standard across the platform. The deal expands the network of established financial institutions collaborating with Polymarket as it builds regulated on-chain market infrastructure.  It also aligns with a broader industry shift toward using payment stablecoins for transparent and efficient settlement, as the digital asset ecosystem increasingly adopts traditional financial standards. The post Circle and Polymarket Partner to Bring Native USDC Settlement to On-Chain Markets appeared first on LeapRate.

This panel examines how brokers can control risk in extreme market conditions. The speakers will share the proven ways to maintain steady processes while keeping trading conditions fair and consistent. Using real volatility scenarios, the session will outline the operational steps brokers can take to stay resilient when markets turn erratic. With gold trading in increasingly wide ranges and volatility remaining elevated, this discussion serves as a practical guide for brokers seeking to protect execution standards without constraining client activity. Roman Snegirev, CMO at Spotware, said: “With the launch of ‘Spotware Talks’, we’re introducing a new, regular panel series on our YouTube channel – a format designed to support our clients through valuable, B2B-focused discussions. In each session, we bring senior industry professionals to the table to set out the operational realities of successful CFD businesses.” You can become a part of the first discussion – submit your question. The invited experts will answer your questions during the session. Join us and learn how to stay afloat when market moves get unpredictable.  About Spotware Systems Spotware Systems is a fintech company founded in 2010, based in Limassol, Cyprus, with a global team of 200+ professionals. It designs and delivers innovative trading technology and custom solutions for brokers worldwide, supporting long-term growth and scalability. Spotware’s solutions include cTrader, the flagship trading platform, and cBridge, a highly cost-efficient liquidity bridge for all platforms that eliminates volume fees and hidden charges entirely. Spotware’s expertise is consistently recognised with multiple international industry awards, including Best Trading Platform, Best Services for Partners and Best Mobile Trading App. The post Introducing “Spotware talks” panel discussion series appeared first on LeapRate.

CME Group reported its fourth consecutive year of record financial performance, with full-year 2025 revenue rising 6% to $6.5 billion and adjusted net income reaching $4.1 billion.  The derivatives exchange also posted record adjusted operating income and record adjusted earnings per share for the year. For the fourth quarter, CME reported revenue of $1.6 billion and operating income of $1 billion. Net income totalled $1.2 billion, with diluted earnings per share of $3.24. On an adjusted basis, quarterly net income was $1 billion, with earnings of $2.77 per share. Chief executive Terry Duffy said 2025 marked “the best year in our history,” citing strong global demand for risk management tools in a “risk-always-on environment.”  Average daily volume reached a record 28.1 million contracts for the year, including 12% growth in commodities and a 5% rise in financials. Fourth-quarter ADV was 27.4 million contracts, the highest Q4 total on record, with non-U.S. volume rising 9% year on year. Clearing and transaction fee revenue reached $1.3 billion in Q4, while market data revenue was $208 million. CME ended 2025 with $4.6 billion in cash and $3.4 billion in debt. The company returned $3.9 billion to shareholders through dividends during the year and has distributed nearly $30 billion since 2012. Duffy said CME will focus on expanding access to new products and services, including U.S. Treasury clearing, round-the-clock cryptocurrency trading and prediction markets. The post CME Group Posts Fourth Straight Year of Record Revenue and Earnings appeared first on LeapRate.

Euroclear reported strong full-year results for 2025, supported by record deposit levels, elevated settlement activity and disciplined cost management.  Reported net profit reached €1.1 billion, while underlying business income, excluding Russian impacts, rose 6% to nearly €1.9 billion. The group said volatility-driven settlement flows, particularly in exchange-traded funds, helped offset an anticipated 5% decline in interest and banking income to €1.1 billion. Operating expenses rose 2% to €1,376 million, reflecting ongoing cost discipline. Adjusted net profit increased 5% to €1.2 billion, with an operating margin of 26.2% and an EBITDA margin of 58%. Chief executive Valérie Urbain said the results “demonstrate the resilience of our business model and the importance of the services we provide in an ever-evolving economic and challenging geopolitical environment.”  She highlighted record-high deposit levels, strong ETF flows and sustained market volatility as key drivers of performance. Euroclear’s capital position remains robust, with a Common Equity Tier 1 ratio of about 57%. Assets under custody surpassed €43 trillion for the first time, while turnover rose 20% to €1,390 trillion. Urbain said the company would continue to work with policymakers on the handling of Russian-sanctioned assets and support financial stability across markets. The post Euroclear Reports Strong 2025 Results as Volatility Lifts Settlement Activity appeared first on LeapRate.

Corpay has agreed to sell its PayByPhone mobile parking payments business to private equity firm Lightyear Capital. The move marks another step in its strategy to streamline operations and focus more heavily on corporate payments. The company, which trades on the New York Stock Exchange under the ticker CPAY, said the divestiture reflects its continued effort to simplify its portfolio and accelerate a shift toward higher-growth corporate payment solutions.  Chairman and chief executive Ron Clarke said: “We’ve agreed to terms to divest our PayByPhone business, and hope that PBP will prosper under Lightyear’s ownership.”  He added that the transaction “is another step to simplify our portfolio, and speed our rotation to more corporate payments.” Corpay indicated that the sale is not expected to materially affect its 2026 cash earnings-per-share outlook.  The transaction is expected to close in the second quarter of 2026, subject to customary regulatory approvals and closing conditions. Corpay appointed Deutsche Bank as its financial adviser for the sale, while Jones Day acted as legal counsel. The post Corpay to Sell PayByPhone as Part of Shift Toward Corporate Payments appeared first on LeapRate.

PhotonPay has partnered with Stripe to expand its global online payment capabilities, aiming to give merchants more efficient and reliable tools to scale internationally.  The agreement integrates Stripe’s financial infrastructure into PhotonPay’s platform, enhancing coverage, performance and payment resilience. PhotonPay said the collaboration would strengthen how payment features are deployed across markets, with Stripe’s modular technology enabling faster integration and reduced complexity for merchants.  The firm already operates across more than 20 local markets and supports over 100 currencies. Beyond major card schemes, PhotonPay’s platform supports e-wallets, bank transfers and real-time payment options. Stripe’s technology will further expand this range, enabling merchants to adapt to local consumer preferences while managing finances through a unified interface. PhotonPay also highlighted its use of AI to optimise transaction quality through intelligent routing, smart retry mechanisms and real-time fraud detection. These systems are designed to reduce checkout abandonment and increase the commercial value of payments processed. Chao Xu, PhotonPay’s vice-president of product, said: “This collaboration with Stripe is a strategic leap for PhotonPay. By combining Stripe’s global reach with our specialised service, we are delivering a truly unified and resilient payment solution.” The company stated that the partnership aligns with its mission “to connect the global digital economy” and positions PhotonPay to offer more structured, scalable and secure payment solutions to merchants worldwide. The post PhotonPay Partners with Stripe appeared first on LeapRate.

eToro has unveiled a shareholder engagement initiative designed to strengthen its relationship with retail investors, launching the programme in partnership with Stockperks.  The move is said to reflect the company’s long-held belief that retail investors are “partners in building a more open and inclusive financial system.” eToro said its mission has always been to make investing accessible, social and collaborative. It added that the new initiative builds on this approach by giving eligible shareholders access to educational content, events, and direct communication with company leaders and market specialists. According to the broker, the initiative complements existing community-focused efforts including the eToro Club, and is intended to deepen engagement with investors who support the company’s long-term vision.  The group said the goal is to foster learning, dialogue, and sustained participation across its global retail audience. Yoni Assia, eToro’s CEO and co-founder, said: “From the beginning, eToro has been about empowering people through access, education, and community. Retail investors helped build eToro and will continue to shape our journey.”  He added that the programme is “not about rewards in isolation,” but about “connecting with our shareholders” and building a platform where users can participate collectively. Stockperks co-founder Agnies Watson stated that she was “thrilled to welcome” eToro to the platform, praising the firm for being “at the forefront of democratising investing.” The post eToro Launches New Shareholder Engagement Programme with Stockperks appeared first on LeapRate.

TradingView has expanded its fixed-income data coverage, adding bond instruments from seven national exchanges to its platform.  The update brings new corporate, municipal and government bond data from Qatar, Greece, Egypt, Romania, Hungary, Germany and Saudi Arabia to Supercharts and the Bond Screener. The company feels the integration supports its view that “data is at the core of any analysis,” and enhances users’ ability to assess global economic trends, market sentiment and portfolio diversification opportunities.  TradingView added that bonds can provide valuable insight by allowing investors to analyse credit type, maturity and other structural factors. Users can now access bonds from the Qatar Exchange (QSE), Athens Exchange (ATHEX), Egyptian Exchange (EGX), Bucharest Exchange (BVB), Budapest Exchange (BET), Stuttgart Exchange (SWB) and the Saudi Exchange (TADAWUL).  TradingView stated that the expansion offers a more comprehensive view of global markets and reinforces its position as a central gateway to financial data. The platform currently connects to hundreds of data feeds, giving users access to more than two million tradable instruments worldwide. The company added that it hopes the latest enhancement will help investors “explore global markets more effectively” by offering a broader foundation for fixed-income research and strategy development. The post TradingView Expands Global Bond Coverage Across Seven Exchanges appeared first on LeapRate.

Equiti Group has entered a strategic partnership with Checkout.com to expand the capabilities of Equiti Pay, aiming to deliver faster, more reliable and more flexible payment options for clients worldwide.  The collaboration will support card deposits, pay-to-card transfers, digital wallets such as Apple Pay and Google Pay, and cross-border transactions. The companies explained that the partnership brings together Checkout.com’s global acquiring network and AI-driven fraud-prevention technology with Equiti’s data-focused approach and growing client base.  The integration promises smoother deposits, quicker withdrawals and improved processing for high-value or time-sensitive transactions. Gareth Bateman, Equiti Group’s head of payments, said the upgrade would strengthen the firm’s global brokerage offering.  “This partnership enables Equiti to leverage Checkout.com’s global acquiring network; enhancing authorisation rates, reducing transaction friction and optimising payment acceptance for our brokerages and clients,” he commented. Checkout.com stated that the agreement aligns with its mission to support high-performance digital payments.  “We aim to help Equiti accelerate funding, streamline withdrawals and expand cross-border capabilities,” remarked Remo Giovanni Abbondandolo, general manager for MENA. Equiti added that the partnership reflects its ambition to build a fully automated payments ecosystem, supporting growth in regions where speed, reliability and flexible payment methods are increasingly important. The post Equiti Group Partners with Checkout.com appeared first on LeapRate.

The Australian Securities Exchange plans to introduce a new suite of futures contracts tied to Bloomberg’s AusBond indices, expanding the tools available for managing exposure to the country’s fixed income markets.  The launch, subject to regulatory approval, covers exchange-listed futures tracking the Bloomberg AusBond Composite Bond Index and the Bloomberg AusBond Credit Index. The ASX-Bloomberg AusBond Index Futures will be listed on ASX 24 and will feature quarterly expiries and cash settlement, mirroring the design of existing Treasury Bond Futures.  The exchange said the contracts will allow participants to hedge interest rate and credit risk, replicate index performance and enhance liquidity management strategies. The move follows a record year for ASX 24 interest rate futures trading, which grew 17% in 2025 compared with the previous high in 2024. The exchange said this reflected deep liquidity and strong demand for risk-management tools amid significant market volatility. “Allan McGregor, ASX head of rates and benchmarks, stated that the initiative expands the exchange’s fixed income offering. “ASX runs the world’s fourth-largest interest rate derivatives market and leads the Asia-Pacific region,” he said.  “These futures offer an efficient, capital-effective way for participants to manage interest rate and credit risk.” Fateen Sharaby, head of index derivatives at Bloomberg Index Services, commented: “Pairing our transparent methodologies and robust governance with ASX’s leading derivatives platform will provide market participants with exchange-traded tools for managing credit exposure.” The post ASX to Launch New AusBond Index Futures in Bloomberg Collaboration appeared first on LeapRate.

Crypto.com has launched OG, a new prediction market platform offering sports fans and consumers the ability to trade on real-world outcomes across sport, politics, finance and entertainment.  The U.S.-based platform will reward its first one million users with up to $500 as part of its rollout. OG, powered by Crypto.com, provides access to CFTC-regulated sports event contracts and a broader range of event-based markets.  The company explained that the product combines features of a consumer app and social network with the robustness of an institutional-grade trading platform. Users can trade on probabilities, view market-driven forecasts and interact with other participants. Kris Marszalek, co-founder and chief executive of Crypto.com, believes the company’s rapid expansion in the prediction market space justified a dedicated platform.  “We’ve experienced 40x weekly growth in our prediction market business over the last six months,” he said. “Our goal is to establish OG as the premier sports prediction market technology with the best customer experience.” Nick Lundgren has been appointed chief executive of OG in addition to his role as Crypto.com’s chief legal officer. Lundgren previously led the firm’s introduction of the first federally licensed sports prediction contracts in the United States.  He stated that OG intended to build on that momentum. “Sports are the natural hub of prediction markets, and we see a massive opportunity to provide fans with an all-encompassing platform where it pays to be right,” he said. OG will initially focus on the U.S. market, with plans for international expansion. The platform will also offer margin prediction contracts, backed by Crypto.com’s security and compliance infrastructure. The post Crypto.com Unveils OG Prediction Market Platform appeared first on LeapRate.

The Tokyo Stock Exchange said trading activity on its CONNEQTOR platform reached a record JPY 506.9 billion in January, the highest monthly total since the request-for-quote service launched in 2021. Average daily trading value rose to JPY 26.6 billion, a 250% increase on the year, reflecting rapid growth in usage beyond traditional investor clients.  TSE said more than 310 investors used the service at the end of January, supported by rising participation from market makers, securities firms, overseas investors and even non-financial domestic institutions such as universities. The platform, which marks its fifth anniversary in February, was designed to improve ETF liquidity by enabling participants to request competitive quotes from 11 market makers and execute trades through 22 brokers.  Increased integration with order and execution management systems used by asset managers, as well as connectivity to Tradeweb, has also contributed to rising activity. CONNEQTOR is increasingly seen as an essential execution tool for institutional investors in Japan’s expanding ETF market, the exchange said. TSE added that it would continue to enhance the service to support the country’s ambitions to strengthen its asset-management ecosystem and further develop the domestic ETF market. The post TSE’s CONNEQTOR Platform Hits Record in Monthly ETF Trades appeared first on LeapRate.

The Helios Consortium has submitted an increased possible offer for CAB Payments Holdings, proposing $1.15 in cash per share alongside a partial unlisted share alternative as it seeks board support for a takeover. The group now holds or has secured support for 127.9 million shares, equivalent to 50.33% of CAB Payments’ issued share capital. The proposed price represents a 21% premium to the company’s 30-day volume-weighted average price and a 37% premium on the 90-day measure. The latest proposal follows a previously rejected $1.05 indicative offer made on 24 January. The consortium said the company’s difficulties as a listed entity, including a profit downgrade, leadership changes and the withdrawal of a possible offer from StoneX, support its view that CAB Payments would be better positioned under private ownership. If a firm offer is made, shareholders would be able to choose the cash exit or participate in the unlisted share alternative.  The group reserved the right to adjust terms under certain Code-permitted circumstances, including a competing bid or a recommendation from CAB Payments’ board. Rothschild & Co is advising the Helios Consortium. Under the Takeover Code, the group has until 5 p.m. on 2 March to announce a firm intention to bid or walk away, unless the deadline is extended by the Panel. The post Helios Consortium Raises Possible Offer for CAB Payments appeared first on LeapRate.

21shares has appointed Stephen Coltman as Head of Macro, strengthening the crypto ETP provider’s investment capabilities as it expands its actively managed product range. Coltman, who joins at the start of February and will be based in London, will work alongside Eliézer Ndinga, Adrian Fritz and the capital markets team, with a remit spanning portfolio oversight, risk management and client engagement.  The hire marks a further step in building out the firm’s active management platform. With 25 years’ experience across asset allocation, derivatives trading and macro strategy, Coltman has held senior roles at Aberdeen Group, Arden Asset Management, Trevose Capital Management and Goldenberg Hehmeyer.  He began his career at JP Morgan and holds an MSc from Imperial College London as well as a CFA designation. Coltman said he was “delighted to join 21shares at such an exciting time of growth and innovation,” adding that he looked forward to helping develop the firm’s active product capabilities. CEO Russell Barlow remarked that the appointment “underscores our commitment to building a best-in-class investment platform,” highlighting Coltman’s experience across macro strategy, risk and client relationships. The hire comes as 21shares continues to broaden its global footprint and diversify beyond passive crypto ETPs, with growing demand from institutional and wealth clients for more actively managed digital asset strategies. The post 21shares Hires Stephen Coltman as Head of Macro appeared first on LeapRate.

The London Stock Exchange Group (LSEG) and China’s Industrial and Commercial Bank of China (ICBC) have signed a Memorandum of Understanding to deepen long-term cooperation across capital markets, data, analytics and cross-border renminbi activity.  The agreement was signed in Beijing on 29 January during the UK Prime Minister’s visit to China. The MoU builds on a longstanding partnership between the two financial institutions and expands the framework for collaboration in areas including trading, clearing, sustainable finance and emerging financial technologies.  LSEG believes the agreement will support new opportunities for issuers, investors and global market participants. Fiona Bassett, CEO of FTSE Russell, described ICBC as “a valued partner” and said the enhanced relationship will combine ICBC’s scale with LSEG’s global data and post-trade infrastructure.  The aim is to develop new channels of market connectivity for both countries and the wider international financial ecosystem. ICBC Vice President Zhang Weiwu feels the partnership reflects the shared ambition of both institutions to drive innovation, facilitate RMB internationalisation and strengthen UK–China financial cooperation. He noted that ICBC, as a global systemically important bank, sees significant potential in advancing joint initiatives with LSEG. The post LSEG and ICBC Strengthen Strategic Ties With New MoU appeared first on LeapRate.

The week that is We have several updates from central banks this week, including the RBA, the BoE, and the ECB, as well as a few important economic indicators landing.    RBA eyeing a 25-bp hike It is widely believed that the RBA will increase the cash rate by 25 bps on Tuesday at 3:30 am GMT to 3.85% from 3.60% – markets are assigning a 77% probability of a hike. This follows the central bank leaving the rate unchanged for three consecutive meetings at the tail end of last year.  Following commentary from RBA Governor Michelle Bullock – who directed focus to the possibility of rate hikes if inflationary pressures persist – coupled with strong jobs data and inflation coming in above the upper bound of the RBA’s 2-3% target range, markets are looking to a rate hike this week.  Should the RBA push forward and hike rates, I feel this will underpin a modest bid in the AUD, though it could prove short-lived. However, the question is what comes next; communication from the central bank will be important to monitor, so keep an eye on any shift in language that supports further tightening, which may add fuel to AUD upside. Some desks reported this could be a one-and-done hike, which might be seen as negative AUD; others forecast additional tightening may be warranted if upside pressures do not subside. The upcoming meeting will also include the Statement of Monetary Policy and is expected to reveal upward revisions in growth and inflation.  The AUD/NZD cross may be one to watch – a pure play given the policy divergence between the RBA and the RBNZ. Although the latter has witnessed a hawkish shift of late, the AUD/NZD remains a market of interest, as the RBA is actively hiking rates, while the RBNZ is merely transitioning from easing to holding – markets are not pricing in much for the RBNZ until September this year.    BoE and ECB set to keep rates unchanged   Both the BoE and the ECB are set to remain on hold this week, scheduled to make the airwaves on Thursday at 12:00 pm and 1:15 pm, respectively.  For the BoE, the MPC are widely expected to keep the bank rate unchanged at 3.75%; this follows the central bank lowering the rate by 25 bps from 4.00% in December in a narrow 5-4 vote split. Why are markets expecting the central bank to keep things steady this week? You will likely recall that in December, BoE Governor Andrew Bailey said that he is open to easing policy if there is evidence of inflation moving towards their 2.0% target. The December CPI inflation data showed that price pressures accelerated to 3.4% from 3.2% in November. This is not the proof he is looking for, clearly.  Also, take into account that on one side of the fence, we have four MPC hawks – focussing on sticky price pressures – and on the other side, we have four MPC doves concerned about the labour market, with Bailey seen as the swing voter. Therefore, current voting dynamics continue to suggest a divided house. From my perspective, although the central bank is in ‘wait-and-see’ mode, given softening jobs data, this should eventually lead to disinflation, thereby allowing the BoE to cut rates. However, timing remains data-dependent for when the BoE next moves, especially as it is also edging closer to a neutral rate. Markets are fully pricing in a June 25-bp cut, with a total of 37 bps of easing priced in – that is, less than two cuts currently. Given markets widely expect a hold decision, any upside in the GBP could prove fleeting on the decision itself as it has largely been priced in. Traders will closely watch the MPC vote split. A hawkish hold, which suggests more MPC members have chosen to keep rates higher, could aid a GBP bid, while a dovish hold – something in the region of a 5-4 vote – implies a rate cut could come sooner than markets are expecting and weigh on the GBP.  For the ECB, with inflation near target, resilient economic growth, and the central bank viewing policy as in a ‘good place’, markets are pricing in that the central bank will keep its three benchmark rates on hold, leaving the deposit facility rate at 2.00% and the refinancing rate at 2.15%.   January US jobs data eyed  The week culminates with the January NFP event on Friday at 1:30 pm. As shown in the LSEG calendar below, following December’s 50,000 gain, the median estimate for January is 64,000, with a forecast range between 108,000 and -10,000. Unemployment is forecast to remain at 4.4%, though the range is between 4.5% and 4.3%.  A strong print this week – one that exceeds 85,000 payrolls – would help validate a patient Fed and likely bolster a USD bid. This would be emphasised if unemployment ticks lower to 4.3%. Conversely, for a negative report, I would be looking for payrolls to come in at or very close to 30,000 or below, with unemployment jumping to 4.5%, which could add to dovish rate-cut bets and prompt meaningful USD downside.  From a positioning perspective, I would favour a softer print based on where things are currently. In short, with the new Fed Chair taking the helm in May, and markets positioned for Fed patience right now, a weak NFP print would create the most surprise that forces a dovish repricing, while a robust report would simply validate current market positioning. In addition to Friday’s NFP report, it is worth monitoring the February US ISM manufacturing PMI data today and the ISM services release on Wednesday, alongside the December US JOLTS job openings on Tuesday, and US weekly jobless claims on Thursday. The post Warsh effect ripples through markets; central banks on deck this week appeared first on LeapRate.