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Week ahead the Fed eyes rate cut amid economic shift

Fed Chair Jerome Powell recently highlighted that the latest inflation figures bolster confidence in achieving the country’s inflation target. This dovish stance may suggest the likelihood of a rate cut in September. This week, we found that retail sales in the US, excluding autos, outperforming expectations. The Retail Sales Control Group, used for GDP estimations indicating robust consumer spending. This positive trend could lead to upward revisions in GDP growth estimates for the second quarter. Strong retail sales in the past have often translated to a more optimistic market outlook. Read more to discover how the Fed eyes rate cut amid economic shift are reshaping trading strategies in this insightful article.

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Disclaimer:

Traders should monitor commentary from the Fed closely and testimony from Jerome Powell could significantly impact the direction of the US dollar, especially if he hints at potential rate cuts or continued caution. Moreover, the upcoming economic data releases, including the personal consumption expenditures index, will further influence market sentiment.

Publication date:

2024-07-27 10:06:58 (GMT)

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