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It hasn’t been difficult to reconcile the latest price action in financial markets. Wednesday’s round of US data has certainly been responsible for the run of broad based US Dollar selling and fresh record highs in US equities. read report
We’re a little surprised to see how the market has been trading over the past 24 hours when considering the result of the US producer prices print. Producer prices doubled forecasts to suggest inflation is back on the rise. read report
Things have been relatively steady and calm at this stage early in the week, though we expect activity will pick up later today when we get the first round of anticipated US inflation data in the form of producer prices. read report
Friday’s run of stronger US data and worry around the threat of US tariffs on China have been behind a lot of the latest run of price action which has leaned in the US Dollar’s direction. read report
The US Dollar remains under pressure into the end of the week after another round of soft US data, this time in the form of higher jobless claims. All of this has helped to reinforce the view the Fed needs to start thinking more seriously about a shift to rate cuts and more investor friendly monetary policy. read report
There have been some doubts from some Fed officials as to whether policy is restrictive enough, and given things have been otherwise rather quiet, these doubts along with a healthy upward revision to the Atlanta Fed GDP model have forced some reconsideration of Fed bets, albeit mild, back in the hawkish direction. read report
