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Daily digest market movers: DXY shrugs off weak sentiment data on the back of hawkish bets

hagijeee
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  • On a quiet Wednesday, US Treasury yields supported the US Dollar with the 10-year rate above 3.80%
  • Market pricing still anticipates 100 bps of easing by year-end, and the odds of a 50 bps cut in September remain at 25-35%.
  • Strong August Nonfarm Payrolls figures next week could result in a 25 bps cut, while a weak reading may trigger a 50 bps cut.
  • The index might continue sideways trading in the next few sessions, while markets await labor market data — the policy driver at the moment, according to the Fed.

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