Daily digest market movers: US Dollar Index declines as Fed decision looms
- "Fed whisperer" Nick Timiraos suggested that the decision could be a "close call," raising the odds of a 50-basis-point cut from 10% to nearly 50%.
- The market now prices in nearly 125 basis points of easing by year-end and 250 basis points over the next 12 months.
- On Thursday, August Producer Price Index (PPI) data was in line with expectations, with headline inflation at 1.7% YoY and core inflation at 2.4% YoY.
- On Friday, Consumer Confidence improved slightly in early September, with the University of Michigan's Consumer Sentiment Index rising to 69 from 67.9 in August.
- The details of the survey showed that one-year inflation expectations declined to 2.7% from 2.8%, while five-year inflation expectations rose to 3.1% from 3%.
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