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EBC Daily Snapshot May 9, 2024

EBC Forex Snapshot 9 May 2024 The dollar held mostly steady on Thursday as traders kept their powder dry before next week's inflation data, while the Swiss franc traded on a strong note around 0.9085 due to signs of recovery in the labour market. Switzerland’s jobless rate was reported at 2.3% in April, the lowest rate since Dec 2023, the latest data showed on Tuesday. The consumer price index accelerated to 1.4% last month following the SNB’s rate cut in March. Weak US job growth have markets increasing bets for two rate cuts this year. Fed Bank of Boston President Susan Collins said overnight that the US economy needs to cool to return inflation back to target. EBC Group Corporate News 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 Group Corporate News EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-05-09 09:45:05 (GMT)

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