Dollar To Rebound
The market is seeking confirmation of its two main expectations: a significant slowdown in growth and a cooling of price pressures. Key reports, including trade balance, retail inventories, personal consumption expenditures, construction spending, and auto sales, are anticipated to influence GDP forecasts. There is a consensus that the largest economy is slowing, with uncertainty about the extent. It's crucial for price pressures to continue moderating, supported by easing signals from CPI, PPI, and imported prices. The December 2024 Fed funds futures imply a rising yield, indicating a market shift away from expectations of easing. The Dollar Index rebounded from recent lows, with technical levels and momentum indicators suggesting potential targets around 105.
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