TechFlow, Nov 14 — Reuters market analyst Jeremy Boulton said foreign exchange traders may be considering whether the long-feared stock market correction has finally begun. However, the deeper equities fall, the higher the likelihood of a December rate cut. Currently, markets price in about a 52% chance of a 25 basis point Fed rate cut in December. This round of profit-taking mainly stems from investor concerns that rates may not be cut in December. But note: this is profit-taking, not forced liquidation of losing positions. Traders often reestablish profitable positions after adjustments, and this pullback offers more attractive entry levels. If earlier-than-expected rate-cutting triggers emerge, they would give traders a reason to act. (Jinshi)
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