Daily digest market movers S Dollar declines as markets assess Powell’s words and Retail Sales
Fed Chair Powell downplayed the need for aggressive easing, citing economic strength.
Fed officials, including Kugler, reiterated the need for caution in rate cuts.
Market odds of a December cut have declined to 60% in fed funds futures and 45% in swaps markets.
Swaps market anticipates a terminal rate above the Fed's long-term rate of 2.875%.
US Retail Sales expanded by 0.4% in October, exceeding expectations and surpassing September's growth.
Retail Sales Control Group contracted by 0.1%, while excluding Autos sales grew 0.1% MoM, below consensus.
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