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GS On US and CAD Job Reports

US OUTLOOK/OPINION
GS stick with their Fed view that is on balance mostly priced in, although remain at the hawkish end of the analyst spectrum for the BoC with still expecting a further hike.
  • US: "We continue to expect the FOMC to skip the September meeting and hold the funds rate unchanged in order to slow the pace of tightening. We also expect that the FOMC will decide that a final hike is unnecessary at the November meeting, because we expect the decline in core inflation to more than outweigh the mid-year resilience in growth and wage data."
  • Canada: "Combined with the inflationary pressures from the housing market, we continue expect a further hike in October for a terminal rate of terminal rate of 5¼%, although the final hike we forecast could be pulled forward into September if upcoming activity and inflation data surprise to the upside."
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HomepageCommoditiesBulletMarketsFixed Income BulletsForeign Exchange Bullets Bank of Canada Market NewsGoldman Sachs Market News

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