Fra Danske Bank:
We expect the Fed to maintain its monetary policy unchanged in the July meeting, in line with consensus and market pricing.
With no new economic projections, all eyes will be on Powell’s remarks. Unclear data will not allow the Fed to pre-commit, but Powell could verbally open up the door for a cut in the September meeting.
Market is pricing around 16bp worth of cuts by September, and cumulative 43bp by year-end. Risks are skewed towards a modestly dovish reaction on Wednesday evening, but further out we think downside potential to USD rates is limited.
Hurtige nyheder er stadig i beta-fasen, og fejl kan derfor forekomme.
