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EBC Daily Snapshot Jun 19, 2024

EBC Forex Snapshot 19 Jun 2024 The dollar recovered some ground on Wednesday after soft retail sales data reinforced bets of imminent Fed rate cuts, while sterling edged up as British inflation returned to 2% for the first time in nearly 3 years. US retail sales barely rose in May and data for the prior month was revised considerably lower, suggesting that economic activity remained lacklustre in the second quarter of this year. The BOE will likely keep interest rates unchanged on Thursday. Markets are pricing in an about 50% chance of a first rate cut by August and almost half a percentage point in monetary easing in 2024. EBC Economic Research Findings 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 Financial News or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-06-19 10:56:48 (GMT)

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