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