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Gold Surges To New Record High After Hot PPI As ECB/WSJ Trigger US Dollar Dump
ECB cut rates by 25bps as expected (along with a stagflationary cut to growth and hike to inflation forecasts) but all eyes were on US data. A hotter than expected PPI followed the hotter than expected core CPI pushed rate-cut expectations lower (although jobless claims fell). Interestingly, rate cut expectations for 2024 jumped after the ugly 30Y auction and WSJ Fed-whisperer Nick Timiraos comments (which were entirely useless, merely stating that policymakers were considering whether to cut by 25bp or 50bp)... chart As the chart above shows, the shift in rate cut expectations was away from 2024 and into 2025 ... (full story)
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- Sep 13, 2024 3:31am Sep 13, 2024 3:31am
- marketchaos
- | Joined Aug 2019 | Status: Member | 80 Comments
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- Posted: Sep 12, 2024 9:30pm
- Submitted by:Category: Fundamental AnalysisComments: 1 / Views: 7,509
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