S&P 500 has experienced a steep decline after breaking down from its multi-month range, Société Générale's FX analysts note.
Business and consumer sentiment in the US is collapsing, and hard data may soon follow. With tariffs acting as an exogenous shock, investors are preparing for recession — not inflation — and abandoning the US Dollar, Commerzbank's FX analyst Antje Praefcke notes.
The US labor market is poised to steal the spotlight this week as concerns over a potential slowdown in economic momentum remain on the rise — an unease fueled by recent signs of slower growth and troubling underlying data, aggravated by the ongoing uncertainty surrounding US tariffs.