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EBC Daily Snapshot Jun 4, 2024

EBC Forex Snapshot 4 Jun 2024 The dollar languished at its lowest since March against the euro and sterling on Tuesday as signs of a softening US economy boosted the case for earlier Fed interest rate cuts. The ISM purchasing managers index for manufacturing fell to 48.7 in May, from 49.2 in April, while construction spending slid unexpectedly for a second consecutive month in April. Following the data, fed funds futures increased the chances of a rate cut in September to around 59.1%, according to LSEG's data. Markets are pricing in 57 bps of ECB cuts this year. 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:

2024-06-04 09:04:16 (GMT)

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