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Getting ready for the next move. 🚀 A September Fed hike looks increasingly unlikely, especially if tomorrow’s payrolls come in soft. That could strengthen the case for a rate cut before year-end. For me, the CPI print matters less than the broader direction of monetary policy. USD/JPY also looks stretched after its major move, with plenty of room for a potential pullback. #SaudiCrude9YearLow #SECMarketModernization #LastNFPBeforeFOMC