![]() Even negative opinions can be framed positively and diplomatically. Only post material that’s relevant to the topic being discussed.īe respectful. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. But if it doesn’t waver from its view that prices will fall, the disappointment will send EUR/USD and USD/JPY plunging. Before FOMC, ADP and ISM services, two important leading indicators for Friday’s non-farm payrolls report, will be released, making it a very insightful day for the greenback. None of the members of the FOMC expect rates to rise in 2022, but the market is pricing in over 50bp of tightening next year. If the Fed fans those expectations by suggesting that prices are less transitory (or that word disappears completely), the U.S. Right now, there’s a significant misalignment between investor expectations and Fed guidance. ![]() Powell will almost certainly downplay the need to change interest rates, but investors will make their own assumptions based upon how much it cuts asset purchases and what Powell says about inflation. CPI growth is at a 30-year high, but core PCE, retail sales, non-farm payroll growth and ISM manufacturing declined from the previous month. The Fed will be reluctant to make any commitments about rate hikes. ![]()
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