External broker reports(aggregated public sources), Nordea

Nordea

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External broker reports(aggregated public sources)

FX & Rates

<ul><li>The ECB’s Governing Council is split between those still more worried about inflation risks and those starting to worry more about labour market weakening.</li><li>Despite the Fed’s 50bp cut, the ECB is widely expected to wait until December to deliver its next rate cut, though yesterday’s weak PMI readings as well as today’s Ifo have pushed market pricing closer to a 50/50 for a rate cut already at the next meeting in Oct.</li><li>There is probably a Chinese saying that it is easier to walk through a door when it is open, and markets have opened all the doors for the Fed and the ECB to go fast to neutral rates.That is the first part of this note.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The ECB’s Governing Council is split between those still more worried about inflation risks and those starting to worry more about labour market weakening.Despite the Fed’s 50bp cut, the ECB is widely expected to wait until December to deliver its next rate cut, though yesterday’s weak PMI readings as well as today’s Ifo have pushed market pricing closer to a 50/50 for a rate cut already at the next meeting in Oct.There is probably a Chinese saying that it is easier to walk through a door when it is open, and markets have opened all the doors for the Fed and the ECB to go fast to neutral rates.That is the first part of this note.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

EURO/US DOLLAR

EUR Rates: Highway to Neutral