Even gold denominated in the Swiss franc, which has always been considered a hard currency, has come out of the bull market.

The Federal Reserve released a national economic situation survey report (also known as the "Beige Book"). The report showed that U.S. economic activity remained stagnant from September to early October, and the number of corporate recruiters increased. The "Beige Book" affirmed the results of the Federal Reserve's fight against inflation, saying that inflationary pressures in the United States continue to ease. According to CME's "Federal Reserve Observation" The probability that the Fed will drop 25 basis points by November is 93% The probability of keeping current interest rates unchanged is 7%; The probability of keeping current interest rates unchanged by December is 2.1% The cumulative probability of cutting interest rates by 25 basis points is 32.6% The cumulative probability of cutting interest rates by 50 basis points is 65.4% The probability of a cumulative interest rate cut of 75 basis points is 0%

The Bank of Canada announced a 50 basis point rate cut to reduce the benchmark interest rate from 4.25% to 3.75%. This is the fourth consecutive time the Bank of Canada has cut interest rates, and has cut interest rates by 25 basis points three times previously. Perhaps the main reason for the Bank of Canada's sudden sharp interest rate cut is that the downside risks to the Canadian economy are increasing. Previously, many institutions believed that the Bank of Canada would further cut interest rates to prevent the economic weakness from continuing into 2025, and it is expected to cut interest rates by another 50 basis points in December. The Bank of Canada said that the timing and pace of future interest rate cuts will be guided by upcoming data, reiterating that if the economy develops in line with expectations, further interest rates may be cut significantly. The aim is to boost economic growth and keep inflation near 2%. Slowing business/consumer spending is the biggest downside risk under CPI.

India's central bank to cut interest rates in December if food prices don't take any hit.

Fed easing may come harder than expected, heavy signal from Fed officials。Traders are betting that the Fed is likely to cut interest rates sharply by 50 basis points for the second time in November, as US inflation continues to cool and is close to the Fed's 2 per cent target, with interest rate futures contracts now reflecting a 54 per cent chance of a 50 basis point cut in November.。It is worth noting that the Fed "cut interest rates by another 50 basis points" is expected to heat up at the same time, the European Central Bank may also open aggressive interest rate cuts, may cut interest rates by 50 basis points in December。

Inflationary pressures have fallen sharply in Switzerland, says Jordan, and the SNB is ready to cut rates again.

In the medium to long term, there is still support for gold prices against the backdrop of interest rate cuts.

sino-us economic working group holds fifth meeting beijing, september 19-20。China and the United States communicate on macroeconomic situation and policies, global challenges and other issues。The Chinese side expressed its solemn concern over the imposition of tariffs by the United States on China, restrictions on investment in China, Russian-related sanctions and the impact on the interests of Chinese enterprises, and the two sides agreed to continue to maintain communication.。At a critical point in time for the Fed to open its first rate cut in four years, the U.S. and China can sit down and talk face-to-face to help guard against risks。

BI announced an interest rate cut to promote economic growth, lowering the policy rate by 0.25% for the first time since 2021.

Warming weather boosts food and clothing sales.

A number of other countries are already on the brink of a rate cut cycle, most of them in Southeast Asia.

The U.S. Federal Reserve announced on September 18, local time, that it would cut its target range for the federal funds rate by 50 basis points。Down to 4.75% to 5.The level between 00% This is also the first time in 4 years that the Fed has cut interest rates。Almost every cycle of interest rate cuts in history has been accompanied by a recession in the U.S. economy.。

The central bank's focus has shifted from "anti-inflation" to "job protection," and the logic of the market will change in the future.

ECB announces rates, decides to cut the deposit facility rate by 25 basis points and cut the main refinancing and marginal lending rates by 60 basis points。The main refinancing rate, marginal lending rate and deposit mechanism rate after the interest rate cut are 3..65%, 3.90% and 3.50%。The ECB's asymmetric rate cut is aimed at ensuring that market conditions are manageable when tapering by adjusting deposit and loan spreads。

PPI price index could provide early signs of where consumer inflation is headed.

From a recession prediction perspective, this is a good report that symbolizes a soft landing for the United States.

The August non-farm payrolls data confirmed the trend shown by the ADP employment data the previous day, but again fell short of market expectations.

In a sign that traders in the interest rate options market have recently sharply increased their bets that the Federal Reserve will cut interest rates by 50 basis points outright this month, reflecting growing speculation that policymakers will act aggressively to prevent a downturn in the economy.。Options tied to the Secured Overnight Funding Rate (SOFR) show a surge in the number of open positions (i.e., the number of positions held by dealers) in some call contracts that expire on September 13, five days before the Fed's September rate decision.。The odds of a 50 basis point rate cut jumped to 50 percent at one point after the overnight JOLTS report, and have since gradually fallen back to 45 percent, but are still significantly higher than the previous day's 38 percent, according to CME's Fed Watch tool.。

Markets turned to non-farm payrolls data released later today to find more evidence of the extent of the September rate cut.

Employers have become more picky and they are less willing to expand their workforce.