By Karen Brettell
NEW YORK, Aug 10 (Reuters) - The U.S. dollar gained on Monday as oil prices increased ahead of Wednesday's closely watched consumer price inflation report for July, after a much weaker-than-expected jobs report on Friday cast doubt on the likelihood of a near-term Federal Reserve rate hike.
Fed funds futures traders are now pricing in 52% odds of a hike at the Fed's September meeting, down from 67% a week ago. **** ysts say slowing job growth and easing oil prices have both contributed to the lower odds of a near-term hike.
"September was starting to look highly likely and then not only did we get a bad jobs report, but terrible revisions as well," said Adam **** on, chief currency **** yst at investingLive.
Wednesday's consumer price index data could spark another shift in expectations if it points to a reacceleration in price pressures. Producer price data on Thursday and retail sales figures on Friday will offer further clues on the path of inflation.
#Jobs
NEW YORK, Aug 10 (Reuters) - The U.S. dollar gained on Monday as oil prices increased ahead of Wednesday's closely watched consumer price inflation report for July, after a much weaker-than-expected jobs report on Friday cast doubt on the likelihood of a near-term Federal Reserve rate hike.
Fed funds futures traders are now pricing in 52% odds of a hike at the Fed's September meeting, down from 67% a week ago. **** ysts say slowing job growth and easing oil prices have both contributed to the lower odds of a near-term hike.
"September was starting to look highly likely and then not only did we get a bad jobs report, but terrible revisions as well," said Adam **** on, chief currency **** yst at investingLive.
Wednesday's consumer price index data could spark another shift in expectations if it points to a reacceleration in price pressures. Producer price data on Thursday and retail sales figures on Friday will offer further clues on the path of inflation.
#Jobs
1 month ago
