Daily digest market movers: US Dollar stability persists ahead of inflation figures
- Market trends from the previous week transition smoothly into the current week. JPY and CHF underperformed on Monday, although global bond yields and equity markets are slightly boosted.
- Due to the lack of significant data releases on Monday, markets are upholding last week's trends while watching for important US data releases slated for this week, including PPI, CPI, and Retail Sales data.
- The market is still fully pricing in 100 bps of easing by year-end, extending to 175-200 bps of total easing over the next 12 months.
- However, this easing path seems unlikely unless the US economy sinks into a deep recession. More data is required to redirect this dovish narrative
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