Daily digest market movers: US Dollar extends gains after GDP revisions
- Atlanta Fed President Raphael Bostic, a leading FOMC hawk, expressed caution about imminent rate cuts, citing robust labor market conditions and elevated inflation.
- About 100 bps of easing is anticipated by year-end and 200 basis points over the following year.
- The odds of a 50-basis-point cut in September remain within the 30-35% range.
- Contrary to expectations, the Bureau of Economic Analysis revised Q2 annualized real GDP growth upwards to 3% from 2.8%.
- New unemployment insurance claims in the US declined slightly to 231K for the week ending August 23, marginally below market estimates.
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