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Some weakness under the surface of US jobs report but Fed on pace for July hike - CIBC

The US dollar has grinded higher in the past hour, even as risk assets add to gains. The S&P 500 is now up 1.3% on the day and even with that, cable is down 41 pips.The market generally sees the US employment report as strong but there's been no change in the 29% implied odds of a June hike. CIBC foreasts a final Fed hike in July but the market has priced in just 17 bps of hiking at that meeting with many seeing the likelihood of further economic deterioration between now and July 26.CIBC noted... Read More

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Weakness

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Jobs

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Forex

Posted: Jun 2 2023, 15:10

Author Name: forexlive

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