Dollar back to square one after payrolls - UBS
- The US dollar received a boost from the release of Friday’s stronger-than-expected nonfarm payrolls, but UBS sees this just moving the US currency back to square...
- The US dollar received a boost from the release of Friday’s stronger-than-expected nonfarm payrolls, but UBS sees this just moving the US currency back to square...
According to Odaily, JPMorgan CEO Jamie Dimon has expressed support for the Federal Reserve's decision to slow down the pace of rate cuts by 50 basis points. Dimon believes that long-term interest rates may remain at their current level or slightly increase. He also noted significant concerns among the public regarding the United States' fiscal and monetary policies.
- The U.S. dollar edged lower Tuesday, but remained near seven-week highs as traders mulled the outlook for Fed monetary policy in the wake of last week’s strong jobs...
According to BlockBeats, on October 8, market sources reported that Ray Dalio, the founder of Bridgewater Associates, does not anticipate significant interest rate cuts in the near future.
According to Odaily, UBS economist Brian Rose stated in a report last Friday that the Consumer Price Index (CPI) for September will be a critical data point. If prices rise faster than expected, coupled with strong labor data, the likelihood of the Federal Reserve holding steady at its November meeting will increase. Based on data from the CME FedWatch tool, following the release of the September employment report, the probability of the Federal Reserve cutting interest rates by 50 basis points next month has dropped from 33% to zero. Traders are now not even fully pricing in a 25 basis point rate cut. Therefore, Thursday's CPI reading has gained significant importance for the Federal Reserve's next move.
Gold and oil prices are retreating as investors expect smaller Fed cuts.
According to Odaily, Dutch banks ABN AMRO and Rabobank have participated in the issuance of digital commercial paper. This paper was tokenized on Deutsche Börse's Clearstream D7 DLT platform. The transaction is part of the European Central Bank's distributed ledger technology experiment for wholesale settlement using central bank money. ABN AMRO has expressed a preference for issuing digital bonds on public blockchains, utilizing Ethereum, Stellar, and Polygon.
Sector ETF report for IYG
-- Most Asian currencies drifted lower on Tuesday, with the Chinese yuan weakening sharply as onshore trade resumed after a week-long holiday. The dollar remained in...
Income investors are seeking high yield money market alternatives.