Daily digest market movers: US Dollar remains vulnerable following Powell's dovish remarks
- Markets digest Powell’s dovish Jackson Hole speech with further easing expected.
- Powell signaled a shift in Fed policy, stating that "the time has come for policy to adjust."
- He also emphasized the importance of the labor market, noting an "unmistakable" slowdown.
- 100 bps of easing is predicted by year-end, with 200 bps total over the next 12 months.
- Odds of a 50 bps cut in September are 30-35%, contingent on upcoming data.
- Market participants await the August NFP report for further guidance on the Fed's path.
- This Friday’s Personal Consumption Expenditures (PCE) figures from July will be key.
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