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Investors see near-even odds for back-to-back Fed hike in October

DBS Group Research economist Eugene Leow said the October decision could be tilted by upcoming US nonfarm payrolls, with a 90k consensus estimate.

Reported · Written up by our desk · Central Banks

FXStreet highlights a view from DBS Group Research economist Eugene Leow ahead of the October FOMC meeting, saying investors are pricing a near-even chance of a back-to-back Fed hike.

Leow noted that the October meeting is being treated as live, with investors betting on a 47% chance of another hike, and he pointed to this week’s US nonfarm payrolls as a potential factor. The consensus estimate for nonfarm payrolls is 90k.

FXStreet also reported that AUD/USD is near 0.6950, after below-expectations August Australian underlying CPI data reduced expectations for further RBA rate hikes.

In the same market wrap, FXStreet said Chinese PMI data did not lift the Australian dollar, and it added that USD/JPY kept losses below 157.00 in the Asia session.

Latest closeUSD/JPY 157.34 ▼0.1%

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