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Week Ahead: Four G10 Central Banks Meet, Only the Fed Moves
The market had been gradually scaling back from speculation of a 50 bp cut this week by the Federal Reserve. The euro and sterling tested important technical support near $1.10 and $1.30 respectively. The Dollar Index set last week's high after the August CPI. However, the general tone of the markets changed, spurred at least initially by a Dow Jones story that many observers believe was likely planted by senior Fed official to put a 50 bp cut back on the table. That set the proverbial cat among the pigeons. The odds of a 50 bp cut went up to nearly 50% fat the end of the week from less than 20% at Wednesday's ... (full story)
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