Ipek Ozkardeskaya, a senior analyst at Swissquote Bank, stated that today’s situation is quite interesting because we see the Fed, or at least Powell, shifting towards a more dovish stance to support the weakening job market. So this is actually a dovish turn we are seeing in Fed policy, which aligns with recent market expectations. The Fed is now prepared to provide that 25 basis point rate cut to the market, at least as anticipated by the market, which has clearly sparked great excitement.

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