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EBC Daily Snapshot May 31, 2024

EBC Forex Snapshot 31 May 2024 The dollar steadied on Friday after a downward revision to US GDP for Q1 suggested room for the Fed to cut interest rates this year. The yen remained off its four-week low on stable price growth. Markets currently priced in a 55% chance of rate cuts to begin in September, according to the CME Group's FedWatch Tool. The downgrade followed recent softness in readings of retail sales and equipment spending. Data showed core consumer inflation in Tokyo accelerated in May but price growth excluding the effect of fuel eased, heightening uncertainty on the timing of the BOJ's next rate hike. EBC Fintech Development Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Forex Trading Platform or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-05-31 12:38:37 (GMT)

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