Softer US Jobs Data Cuts September Fed Hike Odds – SocGen
Weaker US employment data and downward revisions have sharply reduced market expectations for a September rate hike, according to Societe Generale's Kenneth Broux, though one move remains priced for later.
DXY
Societe Generale's FX strategist Kenneth Broux notes that the latest softer-than-expected US labour market data, along with negative revisions to prior months, have caused a significant repricing of Federal Reserve rate expectations.
Markets have now largely priced out a September rate increase, though one additional hike is still seen as likely further down the road. This shift has weighed on the US dollar, as the interest rate support diminishes in the near term.
Source: FXStreet Forex News