Angus Campbell Rate Quotations

With higher gasoline prices putting a dent in consumer spending and underlying inflation looking to be contained, further interest rate hikes seem unnecessary.

The sooner U.S. investors can see the end of this current interest rate cycle the better.

Now market participants are saying that investors should expect range bound trading to continue into next week when the Fed makes its interest rate decision.

Anything higher here could confirm investors' fears that the Fed's interest rate tightening is far from over and is set to continue well into 2006.

It looks like the market will be focused on the interest rate cycle this week and finish off with non farm payrolls on Friday, so many market participants are expecting this week to determine the direction of U.S. indices for the remainder of the year.