Thursday 22nd August 2024

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Today as the US dollar weakens again, against a rising Yen, Phil asks JBWere’s Sally Auld to explain the impact rates differentials are having on the Japanese carry trade. The FOMC minutes this morning came as close as they possibly could to saying a rate cut will happen in September. That’s added to the weakness in the US dollar, and helped equities recover.  They also look at the price of oil, which Sally says is reaching a point where it represents better value for investors. Global PMIs are the focus, along with th weekly jobless claims. A downward revision to the non-farm payrolls overnight was quite marked, but Sally explains why markets didn’t react toit as much as you might expect.

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