Goldman Sachs Morning Market Update: June 24, 2026 - Central Bank & FX Insights

Key Takeaways

• 1.The National Bank of Hungary (NBH) cut policy rates by 25bp to 6.00%, signaling a dovish stance for further cuts.
• 2.Current GBP strength is driven by a short squeeze rather than fundamental long-term value, as the currency remains overvalued.
• 3.Australia's trimmed mean inflation accelerated to 3.6% yoy, leading Goldman Sachs to forecast a 25bp rate hike in August.

Table of Contents

• FX Trader Call Today
• NBH Recap
• GBP: Short Squeeze Not Fundamental Long
• AUS ECON (BOAK) – Australia CPI: Inflation Well Above Target

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Reports in this series

GS Morning Market Update is shown in chronological order through this edition, published on June 24, 2026.

Part of the GS Morning Market Update series — view all 11 editions

Looking for the latest edition? GS MORNING 1) Oil Tracker, 2) USDJPY Topside, 3) Korea Update, 4) Just The Charts and 5) AUD CPI Preview (Jul 28, 2026)

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2. Jun 19GS MORNING: 1) USD and Fed Credibility, 2) GBP Update, 3) US Inflation and 4) Moderated Gold Forecast