Daily digest market movers: Peso-Dollar tug-of-war continues after USD eases on cooling PPI
- US PPI inflation for the year ended in July eased to 2.2%, below the forecast of 2.3%, while the previous period was revised to 2.7% from the initial 2.6%.
- Core US PPI inflation dropped to 2.4% YoY versus the expected 2.7%, falling even further from the previous 3.0%.
- Rate markets edged up bets of a double rate cut from the Federal Reserve (Fed) in September following Tuesday’s PPI print.
- According to the CME’s FedWatch Tool, rate markets are pricing in roughly 55% odds of a 50-basis-point cut on September 18, with 45% odds of at least a 25 bps trim.
- Key US data will continue through the week with July’s Consumer Price Index (CPI) slated to print on Wednesday. Investors expect inflation figures to continue easing
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
If you like, reward to support.
Hot
No comment on record. Start new comment.