Is the bond market going to strong arm the Fed into a 50bp cut?
Markets are now pricing an above 50% probability (well above) for a 50bp FOMC rate cut on Wednesday. Consider:1. Is the FOMC going to think that if they don't cut…
USD/JPY seems vulnerable near YTD low, around mid-140.00s ahead of Fed/BoJ meetings this week
USD/JPY languishes near the YTD low amid the divergent Fed-BoJ policy expectations. Bears might refrain from placing fresh bets ahead of this week’s central bank event risks. The Fed will…
China August: Retail sales +2.1% y/y (expected +2.5) Industrial production +4.5% y/y (4.8)
China retail sales, industrial output, investment data for August 2024 - another round of disappointing results. Retail Sales +2.1% (YoY) (Aug) expected 2.5%, prior 2.7%Industrial Production +4.5% (YoY) (Aug) expected…
Boeing slides as workforce strikes for first time in 16 years
33,000 Boeing workers walk off the job on Friday. Workers want a 40% increase in pay over four years. Wall Street trades higher as Bill Dudley calls for 50 bps…
PBOC is expected to set the USD/CNY reference rate at 7.1048 – Reuters estimate
People's Bank of China USD/CNY reference rate is due around 0115 GMT.The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan…
Gold price stays resilient above $2,500 as inflation fears subside
Gold retreats from a daily high of $2,529 after US inflation data boosts odds of a 25 bps Fed rate cut. Rising US Treasury yields and a stronger US Dollar…
China deflation showing signs of worsening spiral, calls for for immediate policy action
Chief China economist at Morgan Stanley, Robin Xing, says the country is definitely in deflation, probably going through the second stage of deflation.“Experience from Japan suggests that the longer deflation…
Gold surges above $2,500 ahead of US CPI as Fed rate cut looms
Gold gains ground despite broad US Dollar strength, traders focus on the upcoming US Consumer Price Index (CPI) release. CME FedWatch Tool shows 73% odds of a 25 bps Fed…