Daily digest market movers: Canadian Dollar finds the high side on higher housing prices
- The Canadian New Housing Price Index rose 0.1% YoY in July, over and above the previous -0.2% contraction.
- The Canadian Raw Material Price Index also rose in July, accelerating 0.7% versus the forecast -0.9% and improving from the previous month’s -1.4% backslide.
- The US Bureau of Labor Statistics introduced a sharp revision to March’s Nonfarm Payrolls (NFP), cutting the initial print by over 800K jobs.
- The Fed’s latest Meeting Minutes revealed that the US central bank had already begun discussions about when to deliver rate cuts as early as July.
- The out-of-cycle NFP adjustment and dovish Fed print help to drive market bets of a September rate cut even higher.
- Nearly half of all rate traders now expect a double cut for 50 bps from the Fed on September 18.
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.