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  • US data resilience sees market favour a 25bp September cut

    From think.ing.com

    The initial wave of today’s US data was quite a bit firmer than expected with retail sales rising 1% month-on-month versus the 0.4% consensus with the control group, which excludes some of the volatile items, seeing sales rise 0.3% MoM versus expectations of a 0.1% gain. There were some downward revisions to the history, but this is still a firmer-than-anticipated outcome. The headline figure was boosted by a 3.6% MoM jump in vehicle sales, but there was also decent strength in electronics (+1.6%), building materials (+0.9%), food & beverage (+0.9%) and health/personal care (+0.8%). These gains more than offset ... (full story)

so what happen to usd now ? bad news usd weak, good news soo many speculation rate cut. so when investor come to usa bring money if this happen again and again. oh man, so confuse.
market were anticipating 50bps cut before this data but now majority are expecting quarter cut aka soft landing, that's why DXY got the strength we are seeing.
now the focus is on the Employment data in September as it will decide the Fed's policy next month.
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