A selloff in US Treasuries strengthened the dollar and left equities mixed as new signs of economic vigor led traders to trim expectations for US rate cuts. Robust retail sales data fueled optimism about the US economy, prompting investors to reconsider bets on future Federal Reserve easing.
-- A selloff in Treasuries strengthened the dollar and left equities mixed as new signs of economic vigor led traders to trim expectations for US rate cuts .Cities Look to AI to Flag Residents’ Trash and Recycling Mistakes
“There’s a narrow path toward a Fed pause in November, but it would likely require every notable economic report between now and then indicating a stronger-than-assumed US economy,” said Matthew Weller at Forex.com and City Index. “Regardless of what the Fed does in November though, the projected path for interest rates looking out into 2025 and beyond is higher than it’s been in weeks.”
The retail sales data released Thursday “highlight undeniable strength across the economy,” said Ellen Zentner at Morgan Stanley Wealth Management. “Strong data will encourage some pushback from Fed participants to cutting again in November, but Chair Jerome Powell is unlikely to be swayed from forging ahead with steady, quarter-point moves.”
The New Zealand government said on Friday it had escalated its long-running trade dispute with Canada over access for its dairy products into the North American country. New Zealand Trade Minister Todd McClay said his government had notified the Canadian government and other members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership trade agreement that it had triggered mandatory negotiations in the dairy dispute with Canada.
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