Posted 3/14/2024, 1:01:00 AM
Markets Cautious as Traders Await US Data to Gauge Fed Rate Cut Timing
- Currency market subdued as traders await new US economic data to gauge Fed policy direction
- Tuesday's hot inflation data has rekindled concerns that prices could stay high, leading to reassessment of Fed rate cuts
- Markets see 65% chance of June rate cut, down from 71%, but 83% chance for July
- Attention shifts to US retail sales, PPI, jobless claims data out Thursday for economic clues
- Bitcoin hit new record high of $73,678 Wednesday before easing; ether also drifted lower