Mid-Week Wrap: 12 June 2024
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Market Mood
The Federal Reserve is expected to keep rates unchanged at the upcoming June meeting, but the FOMC's discussion will be closely watched for clues on future rate moves amid recent mixed economic data and persistent inflation. May's CPI data, forecasting a softer headline CPI of 0.12% due to declining gas prices, will be pivotal in shaping rate expectations. Meanwhile, the Bank of Japan is also meeting, with no immediate policy changes anticipated, though its stance will be scrutinized due to the yen's weakness and rising input costs for Japanese manufacturers.