Recent US data suggest the Fed could cut rates by 25 basis points in the middle of the week. Kit Juckes, macro strategist at Socie ́ te ́ Ge ́ ne ́ rale, said the market could force the Fed to cut rates by 50 basis points. He added that US retail sales and industrial production data in the coming days could influence perceptions, saying the FOMC might be concerned about falling behind if weak retail sales pushed pricing higher.