I'll just give the main points on this, via Commonwealth Bank of Australia Group economists

  • expect the FOMC to cut the federal funds rate by 25 basis points to a target range of 2.00-2.25 per cent at the next meeting on July 30-31
  • further interest rate cuts are expected as US-China trade tensions weigh on US business investment and hiring intentions. Wages growth has softened and manufacturing activity is moderating
  • fiscal stimulus from the Trump Administration is fading, as evidenced by lower corporate profitability in the March quarter. And inflation expectations are receding, with the recent drop in the University of Michigan's longer-run inflation gauge to the lowest on record.

Gold is vying for best on field today so far:

I'll just give the main points on this, via Commonwealth Bank of Australia Group economists

Houlry chart