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EUR/USD advances towards 1.0800 with the US CPI data on focus EUR/USD climbs near 1.0800 amid Dollar retreat ahead of US CPI data. The Dollar's trajectory depends on inflation and the Fed's upcoming decision. The immediate bias for EUR/USD stays bearish below 1.0815, with key support at 1.0730 and resistance at 1.0815 and 1.0880. #EURUSD #ForexMarket #USCPI #FederalReserve #TechnicalAnalysis #CurrencyTrading
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USD Nosedives as Inflation Drops to 3%, Boosting Rate Cut Hopes The USD took a significant hit today as US CPI figures showed inflation falling to 3%, nearing the Fed’s 2% target. With this data, the likelihood of a September rate cut by the Federal Reserve has surged to over 80%. Federal Reserve Chairman Jay Powell highlighted the cooling labor market and reiterated that a rate cut would depend on sustained progress toward the 2% inflation target. Following this news, the EUR/USD spiked, Treasury yields dropped, and stock futures rose. For more information, read the full article here: https://lnkd.in/drW9MYu9 #ForexTrading #MarketUpdate #FederalReserve #InterestRates #Inflation #USD #EURUSD #EconomicNews #FinancialMarkets #Investment
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Softer US inflation sends treasury yields lower, 10y drops 10bps, 2y drops 7bps. Core CPI cools for first time in 6 months. Gold goes past $2370/oz The bigger point to note is the core inflation, which might give Fed some confidence of slowing prices.
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USD climbing and oil falling: • US November Core Inflation was 4.0% yearly (as expected and previously the same). • The overnight high was 1.3580 rate, and the low was 1.3549 rate. • USD initially fell after the CPI report (due to USD selling), then rebounded quickly. • Oil prices dropped to $68.95 per barrel (from $72.02 p/bbl.) = CAD weaker. • The market was pricing in 115 basis points of Fed cuts ahead of the inflation report. • Now the market is only pricing in 110 bps of Fed cuts. • Federal Reserve Chairman Powell might push back against aggressive cut pricing for March. • Currently a 50% chance the Fed cuts rates in March, 2024. #usdcad #risk #sentiment #mood #oil #cpi #inflation #november #market #stocks #federalreserve #chairman #powell #monetarypolicy #interestrates #ratehike #hawkish #dovish #europeancentralbank #bankofengland TODAY’S RANGE FORECAST FOR USD/CAD: 1.3550 – 1.3650 USD/CAD 24-HOUR RATE CHART BELOW:
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MSc | CySEC Advanced Certif | 9 years Dealing | 2 years Market Analysis - Training Employees and Clients | Economist | FX, CFD, MQL | Certified HRDA Trainer | Public Speaker | Founder at HCPro Academy
Let's not forget the numbers in regards to Fed cut's probability before the inflation report today. Near 50%. Why this matters? If inflation is actually reported higher then it might have much impact on the USD. If however, is reported lower than expected then expectations will shift towards cuts and the dollar weakening might continue aggressively in the short-term. (US_DX/Dollar Index below). More cuts delays will mean EURUSD towards parity. Join me today starting at 15:15 GMT+3: 🖥️ US CPI Analysis Webinar 🖥️ BoC Interest Rate Decision Webinar 🖥️ ECB Interest Rate Decision Analysis Webinar - Join now by following the link! https://lnkd.in/dFRr3pqM - Follow me on X (Twitter): https://lnkd.in/dDxsB5dg #USD #EUR #GBP #JPY #AUD #CAD #forex #markets #currencie #forextrading #fxtrading #gold #silver #usoil #stocks #labour #inflation #nfp #rates #yields
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USD sags as Treasury yields fall: • The recent surge in US yields may deter the Federal Reserve from a final rate hike for the year. • The overnight high was 1.3611 rate, and the low was 1.3571 rate. • A shift in the Federal Reserve’s tone has been observed and a hike next month is unlikely. • Oil prices spiked to $85.04 per barrel (from $83.55 p/bbl.) = CAD firm. • Fed Vice Chair Jefferson is concerned about higher bond yields on future policy adjustments. • Stocks are higher as risk appetite is waning ahead of tomorrow’s US inflation report. • A wider conflict between Israel and Hamas could hit oil supply from the Middle East. • Worries of escalation might cause higher volatility and speculation in oil markets. #usdcad #risk #sentiment #mood #markets #stocks #oil #israel #federalreserve #monetarypolicy #interestrates #ratehike #cut #pause #inflation #fomc #minutes #bonds #yields #treasuries TODAY’S RANGE FORECAST FOR USD/CAD : 1.3565 – 1.3635 USD/CAD WEEKLY RATE CHART BELOW:
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Really good CPI print this morning. Treasury yields 15-20 basis points lower across the curve. Looks like the next leg the market is pricing in is an economic slowdown, inflation normalization, and Fed easing. Fed fund futures this morning indicating cuts in mid-2024 from late-2024 as of yesterday. If you haven't seen it, check out our piece on 30-year Treasuries from two weeks ago (https://lnkd.in/eqd-ga_X). #inflation #fed #growth
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US CPI, Fed Decision to Guide US Dollar, Setups on EUR/USD, USD/JPY, GBP/USD This article examines the technical outlook for major US dollar FX pairs such as EUR/USD, USD/JPY and GBP/USD, dissecting the critical price thresholds that could come into play this week ahead of US inflation data and the Fed’s decision.
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USD sinks after Powell blinks: • The Federal Reserve kept interest rates steady but sees more rate cuts for 2024. • The overnight high was 1.3519 rate, and the low was 1.3426 rate. • US stocks surged after the Federal Reserve signaled an end to the tightening cycle. • Oil prices climbed to $71.98 per barrel (from $69.66 p/bbl.) = CAD stronger. • Crude oil spiked after a tanker attack in the Red Sea caused worries about security. • European Central Bank and Bank of England also left rates unchanged. • A more dovish Fed is leading to sell USD and buy everything else mood in markets. #usdcad #risk #sentiment #mood #markets #stocks #oil #supply #demand #security #redsea #federalreserve #monetarypolicy #interestrates #dovish #cuts #pause #economicdata #inflation #cpi #ppi #pce TODAY’S RANGE FORECAST FOR USD/CAD: 1.3375– 1.3475 USD/CAD MONTHLY RATE CHART BELOW:
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