Market Insights Today: Hawkish Bostic puts the focus on Powell – 7 February 2023
APAC Strategy Team
US equities extended their losses while the USD continued to run higher on Monday as markets repriced the Fed’s path higher following Friday’s hot jobs report and Fed member Bostic’s hawkish comments bringing 50bps of rate hikes over the next two meetings back on the table. Eyes turn to Fed Chair Powell up later today if similar hawkish rhetoric will be maintained. RBA meeting ahead and key to watch if the door for further rate hikes is kept open. Oil prices are choppy but Gold strength is seen holding up despite a recent correction.