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Market Insights Podcast - Higher for longer interest rates back in vogue, US CPI, ECB and Q1 US banks earnings on the radar

OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week's key economic data and events. Firstly, a quick recap on what happened last week week where the initial Fed dovish pivot narrative has been watered down due to a hawkish Fed Speak from Minneapolis Fed President Kashkari that suggested interest rate cuts may not be needed in 2024 coupled with a red-hot US non-farm payroll jobs data for March.

08-04-2024 21:27 GMT by Kelvin Wong

SPX 500: Fed dovish pivot narrative is at risk

Higher oil prices have led to higher inflationary expectations in the US via the breakeven rates. Recent rise in inflationary expectations coupled with recent “less dovish” Fed Speak from Fed officials Kashkari, and Bostic has revived the “higher for longer” interest rates environment. Higher commodities prices led by oil may see an uptick in US CPI data.

08-04-2024 04:13 GMT by Kelvin Wong