Daily digest market movers: DXY has a bumpy ride due to Fed policy outlook and impending US elections... dari hagijeee

24 Jul 2024, 20:32 · Views 90

The outlook for the Fed's policy and the unsettled politics of the US election continue to be the two major catalysts driving the USD's trajectory.
As former President Trump becomes the favorite, after Joe Biden’s extir, investors will focus on three broad areas: immigration, tariffs, and fiscal policies. So markets will keep an eye on Trump’s hints about its economic plans.
The CME FedWatch Tool sheds light on the widespread anticipation about the September rate cut as investors are pricing in a 25 bps cut.
The upcoming GDP and PCE data are likely to shape the USD dynamics for the week ahead as they will guide markets on the next Fed moves

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