The once invincible dollar was still reeling on Tuesday after more macro evidence that the U.S. exceptionalism narrative may be fading. The big test comes...
The once invincible dollar was still reeling on Tuesday after more macro evidence that the U.S. exceptionalism narrative may be fading.
The big test comes on Friday with monthly payrolls figures, but a jobs market reading later today could also deal the dollar a blow in the form of the JOLTS report - a favourite of former Fed Chair Janet Yellen - which is forecast to show job openings sinking to deeper three-year lows.Equity markets aren't sure how to take the news, which on the one hand brings forward potential Federal Reserve rate cuts, but on the other sends a worrying signal about corporate profits.
Of course, the ECB meeting is only two days away, and markets are braced for a hawkish cut. Inflation is flaring up again, making for a murky view of potential policy easing later in the year.Switzerland, meanwhile, publishes CPI. Inflation is ticking up there too, but economists and traders currently still lean slightly toward a rate cut this month, after the SNB became the first major central bank to kick off an easing cycle earlier this year.
The Tesla CEO faces claims he pocketed $3 billion in ill-gotten gains in late 2022 after learning Q4 vehicle sales would not deliver the 'epic end of year' he promised investors.BofA says chip stocks won't peak until mid-2026, and that these 3 sub-industries will thrive until then
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