Fed minutes were hawkish, US jobs data in focus! | MarketTalk: What’s up today? | Swissquote

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Minutes from the Federal Reserve’s (Fed) latest policy meeting were more hawkish than expected. The minutes revealed that some officials preferred another 25bp hike right away instead of a pause. Almost all of them said that additional hiking would likely be appropriate, and the forecasts showed that they also expect mild recession.
The minutes came to confirm how serious the Fed is in further tightening monetary conditions, and boosted the Fed hike expectations. The US 2-year yield came very close to 5%, the stocks fell, but very slightly. The S&P500 closed the session just 0.20% lower, while Nasdaq 100 gave back only 0.03%. The US dollar gained, the EURUSD slipped below its 50-DMA, as the Eurozone services PMI fell short of expectations, the producer prices fell 1.5% y-o-y in May and the expectation for the 12-month inflation in EZ fell to 3.9% in May.
Due today, the ADP report is expected to reveal that the US economy added around 228K new private jobs in June, while the JOLTS is expected to have slipped below 10 mio job openings in May.
Elsewhere, US crude cleared the all-important 50-DMA yesterday.
And Meta gained nearly 3% as its new Threads platform, to compete Twitter at a time Twitter limits the number of posts that people can see and their access to Tweetdeck unless they pay, could amass a chunk of Twitter users looking for a reasonable alternative.
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