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Market Concerns Over Fed Rate Cut Prospects, Non-Farm Data May Support USD This Week
Summary: Market concerns over the prospects of a Fed rate cut have pushed the US Dollar Index (DXY) to a three-year low on Monday. However, Francesco Pesole of ING Group believes that upcoming US economic data may limit the dollar's decline, as it could prompt investors to reduce bets on a rate cut. He stated that ...
Market concerns over the prospects of a Fed rate cut have pushed the US Dollar Index (DXY) to a three-year low on Monday. However, Francesco Pesole of ING Group believes that upcoming US economic data may limit the dollar's decline, as it could prompt investors to reduce bets on a rate cut. He stated that Thursday's non-farm payroll report may show a gradual slowdown in job growth, but not enough to trigger significant bets on a rate cut in July. Inflation may also rise in the coming months. 'The dollar should see some short-term support.'
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Link: Market Concerns Over Fed Rate Cut Prospects, Non-Farm Data May Support USD This Week [Copy]
