Amazon Cloud Revenue Fails To Impress; Weak Jobs Number May Make Case For Rate Cut
UNITED STATES, AUG 1 – The Fed's rate cut odds rise due to weaker job growth and revised employment data, with a 65% probability for a 25 basis points cut in September, per ICICI Bank and CME Group.
- New Delhi, August 1 : ICICI Bank said the likelihood of a 25 basis points September rate cut by the US Federal Reserve has increased, but depends on upcoming data.
- At its recent meeting, the FOMC kept interest rates unchanged at 4.25%–4.5%, with Federal Reserve Governors Christopher Waller and Michelle Bowman dissenting in favor of a cut.
- Following the report, market models from the CME Fed Watch Tool show the probability of a September rate cut increased to 67%, with expectations surpassing 66% in some analyses.
- Amid an incoming data slate, two inflation reports and two labour market reports are scheduled before the mid-September Fed meeting, with one more jobs report due.
- Though a dissent emerged, the report noted that growing divergence within the FOMC may aim to gain support before leadership changes, despite the majority being cautious.
Insights by Ground AI
Does this summary seem wrong?
34 Articles
34 Articles
Dollar Decline Amid Unexpected Job Data and Market Reactions
Dollar Decline Amid Unexpected Job Data and Market Reactions The dollar experienced a sharp decline on Friday, marking its largest daily loss against the euro and yen since April. This downturn followed surprising U.S. employment data that revealed fewer job additions in July than economists predicted, with previous months also showing significant downward revisions.In response, traders adjusted their expectations for Federal Reserve rate cuts, …
·India
Read Full ArticleThe numbers don't appeal to investors on Wall Street. Is there the biggest minute of the week since the end of June?
·Berlin, Germany
Read Full ArticleCoverage Details
Total News Sources34
Leaning Left3Leaning Right4Center6Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 23%
C 46%
R 31%
Factuality
To view factuality data please Upgrade to Premium