Fed Chair Janet Yellen’s cautious bearing to winding down easy monetary policy has been the correct approach, the Bridgewater Associates founder on “Squawk Box.” Dalio’s firm manages $163 billion overall, including nonhedge fund money.
“If I were running monetary policy, I’d wait to see for the whites of the eyes of inflation,” he said, because the Fed should not be ahead of market expectations on increasing rates. The first hike is expected in the summer, though some market watchers think it may be earlier.
The Labor Department provides another piece of the economic puzzle for the Fed to consider, when it issues the September employment Friday. Economists forecast that 215,000 nonfarm payrolls were created last month. The disappointing August growth number of 142,000 jobs was expected to be revised higher.
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EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
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Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.