Euro took a sharp dive today following disappointing PMI data that fueled fresh speculation about ECB potentially moving up its anticipated rate cut. Markets had been bracing for a December cut, timed with the release of new economic forecasts. However, the mounting risks of stagnation and even recession in the Eurozone have prompted discussions that…
Canadian Dollar is broadly lower in early US trading following weaker-than-expected inflation data. With CPI decelerating further than anticipated, this set of data provides BoC some breathing room to ease monetary policy more aggressively if necessary. The spotlight now shifts to the upcoming September employment report, which will be crucial in determining whether BoC sticks…
Investor sentiment is currently mixed, reflecting the heightened uncertainty surrounding this week’s crucial Fed meeting. While DOW surged to a fresh record high overnight, and S&P 500 edged closer to its historical peak too, the tech-heavy NASDAQ struggled, ending the session in negative territory. The mixed performance extended to Asia, where Nikkei fell sharply in…
Traders continue to ramp up bets on a 50bps rate cut by Fed this Wednesday, with market odds now sitting at 65%. This increasing expectation is driving DOW futures higher, positioning the index for a potential new record high in the upcoming regular trading session. However, S&P 500 and NASDAQ are showing less momentum, struggling…
The financial markets have been more influenced by speculations than by concrete economic data, as anticipation builds ahead of Fed’s interest rate decision on September 18. Recent US economic indicators, including the latest CPI report and the prior week’s non-farm payrolls, pointed toward a cautious and modest 25bps rate cut. However, traders and investors chose…
Dollar strengthened modestly in today’s quiet trading as market participants continued to scale back expectations for a more aggressive 50bps rate cut by Fed this month. However, the greenback’s momentum remains modest as it awaits a crucial test from the upcoming US CPI data this week. Stabilizing risk sentiment is also keeping a lid on…
