Get out the popcorn, it could be an entertaining 48 hours as traders jockey for postion into and eventually out of the granddaddy of all economic releases, US Non-Farm Payrolls.
US markets might still be more sensitive to weaker data. This especially might be the case for the dollar. Interesting to see whether EUR/USD can regain the 1.10 barrier. USD/JPY also looks vulnerable sub 147.
- Stocks move higher and bond yields lower as interest rate expectations are further dialed in after Fed Waller yesterday spoke about seeing case for rate cut in several months if inflation takes on course, suggesting a move in H1 2024, alongside a significant drop in German states and Spain’s CPI readings, ahead of Germany’s national reading at 08:00 ET.
Mexican Peso (MXN) retreats against the US Dollar (USD) in an early trading session on Wednesday after the US Department of Commerce revealed the economy in the United States (US) is growing above trend, which could warrant further action by the US Federal Reserve’s (Fed).
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