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Central Banks

WatchTower Research on central banks: clear, practical explainers using the same data the terminal runs on across FX, metals and indices.

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Rate differentials panel in WatchTower Terminal comparing policy rates across currencies
Central Banks

Rate Differentials Explained: Why Interest Rates Move Currencies

Interest rate differentials are one of the strongest forces in FX. Here is what they are, why the expected path matters more than the level, and when they stop working.
Central bank stance panel in WatchTower Terminal across the major central banks
Central Banks

How to Read a Central Bank Meeting

A rate decision is the least interesting part of a central bank meeting. The market trades the guidance and the surprise. Here is what to watch and how the reaction works.
WatchTower Terminal pair analyst view showing a central bank hold, dovish bias and forward guidance in the narrative
Central Banks

Forward Guidance Explained

Central banks move markets with words, not just rates. Forward guidance steers the expected path of policy, which is what currencies actually trade. Here is how it works.