Stocks gain, dollar slips as Fed hike expectations fade
AI Market Summary
Revisions to U.S. employment data strengthened concerns about labor-market cooling, prompting a sharp repricing of near-term Fed tightening expectations (hike odds down to 22% from 64%). The reduced rate-hike premium pressured the dollar and supported global risk assets, with Asian equities firmer and gold modestly higher. Near-term focus shifts to how quickly softer data feeds into policy expectations and cross-asset positioning.
Impact level
● High
Affected assets
NCSIDXY2USD/USDT+0.38%
AI Insight · NCSIDXY2USD/USDTAI Insight
▲ Bullish
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Revisions to U.S. jobs data have revived concerns that the labor market is losing momentum, prompting investors to sharply scale back expectations of a Federal Reserve rate increase this month. Markets now put the probability of a hike at 22%, down from 64% a week ago. The dollar weakened on the shift, while global equities found support. Japan's Nikkei rose 2% in early trade and Australian shares added 0.5%. MSCI's Asia-Pacific ex-Japan index edged higher. Spot gold gained 0.3%.
