Credit Agricole: The possibility of a 50 baz puan interest rate cut by the Fed in September is unlikely.

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Gold Finance reported that Kit Juckes, Chief Global Forex Strategist at BNP Paribas, stated in a report that the currency market's expectations for a rate cut in the US in 2024 seem somewhat exaggerated, and the possibility of a larger rate cut of 50 basis points in September is still unlikely. Refinitiv data shows that the US currency market currently expects a rate cut of 103 basis points in 2024, implying that the Fed will cut rates by at least 50 basis points in the remaining three meetings this year. Juckes said, 'Unless there is a significant economic slowdown, the front end of the interest rate curve for the next six months has already reflected too much of a rate cut.' He added that there is a great deal of uncertainty about the extent of the economic slowdown.

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