NY foreign exchange market: Dollar falls, nervous ahead of employment statistics.
September 6, 2024 5:39 AM GMT+9 (excerpt)
In the final stages of the New York foreign exchange market, the dollar fell against major currencies in volatile trading. As investors await the release of employment data that could influence the Federal Reserve's rate cut decision on the 6th, they have become nervous.
Due to signs of slowing growth in the US economy, there is an increasing possibility that the Federal Reserve will accelerate rate cuts, causing the dollar to weaken recently.
According to CME FedWatch, there is a 59% chance of a 25 basis point rate cut and a 41% chance of a 50 basis point rate cut at the Federal Open Market Committee (FOMC) meeting on September 17-18. A 100 basis point rate cut is priced in for the rest of the year.
Due to signs of slowing growth in the US economy, there is an increasing possibility that the Federal Reserve will accelerate rate cuts, causing the dollar to weaken recently.
According to CME FedWatch, there is a 59% chance of a 25 basis point rate cut and a 41% chance of a 50 basis point rate cut at the Federal Open Market Committee (FOMC) meeting on September 17-18. A 100 basis point rate cut is priced in for the rest of the year.
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