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    June rate hike probabilities drop

    The US dollar is on the back foot so far today as we pointed out earlier and this has been driven in part by a decline in the probabilities for a June rate hike. The probabilities for a rate hike this month from the FOMC were at 30% at the end of the day on Friday following Yellen’s hawkish comments but dropped back to 24% yesterday before moving further lower to 18% today.

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     With some indicators suggesting that today’s main economic release from the ISM manufacturing PMI could miss expectations, if this were to occur then a drop even further would be expected. 

     

    Any person acting on this information does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it.


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