🌍 Macro narrative is now in the hands of monetary policy
🦅 Waller's hawkish stance is taking shape: interest rate cut expectations for the year have evaporated, with a 50%+ chance of a rate hike in September; Goldman Sachs anticipates a hike in September and "possibly a second and third one"
🔴 USD Strengthening: The DXY is pushing 101 (a new high in over a year), hedge funds are going long on the dollar
🔴 Gold Taking a Hit: International gold has fallen below 4,150
→ Strong dollar + evaporated rate cut expectations = risk-off sentiment suppressing risk assets #Macro
🦅 Waller's hawkish stance is taking shape: interest rate cut expectations for the year have evaporated, with a 50%+ chance of a rate hike in September; Goldman Sachs anticipates a hike in September and "possibly a second and third one"
🔴 USD Strengthening: The DXY is pushing 101 (a new high in over a year), hedge funds are going long on the dollar
🔴 Gold Taking a Hit: International gold has fallen below 4,150
→ Strong dollar + evaporated rate cut expectations = risk-off sentiment suppressing risk assets #Macro