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EBC Daily Snapshot Jul 4, 2024

EBC Forex Snapshot 4 Jul 2024 The dollar was on the back foot on Thursday after ADP employment report showed a less-than-expected job gains in June in line with an increase in initial applications for unemployment benefits last week. Minutes of the Fed's meeting acknowledged the economy is slowing and "price pressures were diminishing. Markets are pricing in about a 68% chance of a rate cut in September, according to the CME FedWatch tool. Sterling was holding steady after gaining on the dollar overnight. Britain looks set to elect Labour Party leader Keir Starmer as its next prime minister when voters go to the polls. EBC Financial Market Forecast 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 Economic Research Findings or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-07-04 09:48:23 (GMT)

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