Interest Rates Gaps for the US Dollar
- CME FX Swap Rate Monitor measures implied interest rate differentials.
- US rates appeared higher in FX markets than for seven other currencies.
- US rates were higher than rates in eurozone, Canada, Australia, and Japan.
- US rates were up to 30 points higher than central bank or OIS rates.
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Conflicting Scenarios for Growth
- Conflicting expectations for economy to either snap back or set back.
- October GDP data could raise hopes for a swift rebound.
- Jobs data, however, could show continued layoffs, slowing recovery.
- Inflation-sensitive gold, Treasuries focused on shape of recovery.
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