Dow Jones futures were higher after Monday's nasty stock market reversal. Netflix earnings and Tesla earnings are due out this week. Read More...
Reuters
Dollar dips as rate hike bets ease
The U.S. dollar slipped to a one-week low against a basket of currencies on Monday, from the two-decade high hit last week, as traders pared bets on how aggressive the Federal Reserve would be in raising rates at its meeting later this month. Fed officials signalled Friday they would likely stick with a 75-basis-point interest rate increase at their July 26-27 meeting, though a recent high inflation reading could still warrant larger increases than anticipated later in the year. Traders in futures contracts tied to the Fed’s short-term federal funds policy rate, who had been leaning toward a full-percentage-point rise in interest rates, shifted their bets firmly in favor of a 0.75-percentage-point increase at the upcoming meeting.
