Oil prices surged today as US economic data cooled Fed rate hike expectations.
Reuters reports a disconnect: oil up, Fed outlook soft. The market prioritizes domestic data over global commodity pressure.
Our read: the Fed narrative is fragile. If commodity inflation hits CPI, the market’s "no hike" bet unwinds fast. Expect volatility if the Fed turns less dovish.
Bet on the Fed or oil?
$BTC
Reuters reports a disconnect: oil up, Fed outlook soft. The market prioritizes domestic data over global commodity pressure.
Our read: the Fed narrative is fragile. If commodity inflation hits CPI, the market’s "no hike" bet unwinds fast. Expect volatility if the Fed turns less dovish.
Bet on the Fed or oil?
$BTC