Next two weeks "absolutely critical" in determining timing of Fed's first rate cut - BAML
According to Reuters, Bank of America Merrill Lynch (BAML) in a recently published report said that it saw the next two weeks as "absolutely critical" in determining the timing of the Fed's first rate cut.
"If there are another weak U.S. Payroll report, disappointing ISM data and a "bad" G20 summit outcome, the Fed would begin cutting interest rates in July," BAML noted. "If U.S. data are mixed and markets are "content," the Fed would begin lowering U.S. rates in September."
BAML analysts still expect the Fed to cut rates by a total of 75 basis points by early 2020.
The US Dollar Index ignored these headlines and was last down 0.55% on a daily basis at 96.65.
This article is published only for general use basic informatory purposes and should not be considered or depended on as a financial or investment advice. Investors should make sure that they understand the risks and seek independent financial advice at all times. CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE.