Market Overview Analysis by Ipek Ozkardeskaya covering: EUR/USD, Nasdaq 100, S&P 500, US Small Cap 2000. Read Ipek Ozkardeskaya's latest article on Investing.com
"The time has come for policy to adjust, and the direction of the travel is clear" said Federal Reserve Chair Jerome Powell at his Jackson Hole speech on Friday.
"The pace of rate cuts will depend on the incoming data, the evolving outlook and the balance of risks" he said. The expectation of a 50bp cut has been rising slowly but surely. And the risk assets are surfing on that vibe in the absence of a major stress. Thejumped more than 3% on Friday. I remain convinced that a 25bp cut is the right dose of dovishness to help keep appetite intact in the stock markets.to 1.
European economies need the rate cuts more than the US does, but the ECB is expected to cut by 50bp before the year ends vs the 100bp cut expected for the Fed. Hence there is a growing room for a dovish adjustment for the ECB expectations.
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