Friday's jobs report from the US, nonfarm payrolls, was sizzling:Forexlive Americas FX news wrap: US dollar jumps on hot NFP and then gives it backBond giant Pacific Investment Management Company (PIMCO) has dialed back its forecast for Federal Open Market Committee (FOMC) rate cuts this year. The previous PIMCO projection was for 3, but they've dialled that back to 2 now as thier 'base case'. A PIMCO rep spoke with Reuters after the NFP numbers on Friday:this means a little bit less out of the Fed the economy is proving for now that it can handle higher ratesChecking FedWatch you'll see the pricing for a June rate cut is now bordering on a coin toss. I reckon the likelihood is closer to 10%
Hence then, the article about icymi pimco now expect just 2 federal reserve rate cuts this year were previously at 3 was published today ( ) and is available onforex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( ICYMI - PIMCO now expect just 2 Federal Reserve rate cuts this year. Were previously at 3. )