WSJ’s Nick Timiraos tweets financial conditions easing 50 bps on Thursday post-US CPI
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The US Dollar recovery faltered in Asian trading this Friday, following a tweet from the Wall Street Journal (WSJ) Chief Economics Correspondent and a US Federal Reserve (Fed) watcher, Nick Timiraos.
Timiraos tweeted out, “Goldman Sachs reports that its intra-day estimate of US financial conditions from its financial-conditions index eased by over 50 basis points today following the rally triggered by the October CPI print. That is the third-largest single day decline on record.”
The US Federal Reserve Insider’s tweet, citing Goldman Sachs, suggests that the easing of the financial-conditions index could temper the Fed’s expectations for a smaller interest rate hike increase, unnerving markets once again.
The US Dollar bulls lack a follow-through recovery momentum, as investors digest the latest WSJ headlines. The gauge is trading almost unchanged on the day at 108.22, at the time of writing, having stalled it rebound near 108.45.
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