Stronger US business confidence ease concerns - BTMU

Analysts at Bank of Tokyo Mitsubishi noted that the stronger than expected rebound in business confidence evident in the September ISM surveys has helped to ease concerns of a more material economic slowdown in the US.

Key Quotes:

"The surveys appear consistent with the Fed’s outlook for stronger growth in the second half of this year. Unless there is a negative shock and/or the US economy surprises to the downside, the Fed is on track to hike for the second time in December. However, political risk is playing a role in dampening US dollar upside ahead of the Presidential election."