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A cause for pause

Started by forex4you, Jun 01, 2023, 10:20 am

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A cause for pause

If you just go by the headlines, it would certainly seem like it:

It may have been a coincidence but in central bank language, that is hardly ever the case. It appears to be that Fed policymakers are starting to pick a side but a lot will still come down to the big data in the weeks ahead.

The first will be this week's US non-farm payrolls and then more importantly the US CPI data on 13 June, which will come just a day before the next FOMC meeting.

But keep in mind that there is the Fed blackout period (starting 3 June) to consider, so if policymakers will want to let their voice be heard then they will have to communicate so accordingly beforehand. And this certainly does seem like that but let's see whether there will be more later in the day.

Fed funds futures had previously shown odds of a 25 bps rate hike be at 70% yesterday but that has now flipped over to being 61% odds of there being no change to interest rates in June. That said, it hasn't really impacted the curve too much though:



                This article was written by Justin Low at www.forexlive.com.

Source: A cause for pause

forexlive.com
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