By Mike Dolan
LONDON (Reuters) – What matters in U.S. and global markets today
By Mike Dolan, Editor-At-Large, Financial Industry and Financial Markets, Reuters Open Interest
Global equities rose early on Wednesday as bets for a Federal Reserve rate cut next week solidified following more bad news on the U.S. jobs front. Traders’ attention will now turn to U.S. producer and consumer inflation data releases set for today and tomorrow. While hot prints could create some noise in rates market, few expect anything to significantly alter the Fed’s plans for next week.
In today’s column, I explain why stablecoins could entrench U.S. dollar dominance and why that is worrying regulators.
Today’s Market Minute
Chart of the day
Gold prices have risen almost 40% so far this year, following a 27% jump in 2024. This years’ spike has been driven by a weak dollar, strong central bank purchases, expectations of dovish monetary policy and rising geopolitical uncertainty. ROI markets columnist Jamie McGeever recently argued that central bank’s gold accumulation may be unstoppable.
Today’s events to watch
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Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
(By Mike Dolan)
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