May 8, 2023
Market Volatility Alert: US Banks' Take on Credit Squeeze
Wayne Cole provides a brief insight into the upcoming trading day in the European and global markets. Despite the new week, Asia seems to be off to a slow start, which is not unusual, as the market gears up for the release of US consumer prices data, set to be a major test of the market's confidence in the Fed's decision to halt rate hikes. Futures currently show a 90% likelihood of steady rates in June and a 38% chance of a cut as early as July, leaving the market exposed to an upside surprise on the CPI.
While the median forecasts predict a rise of 0.4%, the range is 0.2% to 0.6%, and any unexpected figure could have a significant impact on the market.