The US Federal Reserve is moving closer to cutting interest rates. A first move at the meeting in June is still likely if the next inflation data show progress, economists at Commerzbank say. Fed wants to gain more certainty that inflation has really been beaten While the Fed is moving towards lowering interest rates, it
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The USDJPY stalled at some key levels at the highs today, and on the run lower after the 40 rate decision and comments from that that is press conference held some pretty key support against old highs from 2024 and a key retracement level. It keeps the buyers and sellers in a battle. Find out
It was a straightforward reaction to the FOMC meeting yesterday, as the Fed bolstered expectations of a June rate cut. The dot plots still showed 75 bps of rate cuts this year and Powell rounded that off with a more dovish stance overall. As a result, the dollar fell as risk trades soared while gold
Oil prices rebounded on Thursday after falling in the previous session as U.S. crude and gasoline inventory declines supported the market after signs the U.S. Federal Reserve may keep rates higher for longer crimped the outlook for future fuel demand. Brent crude oil futures contract for May settlement rose 0.6%, or 52 cents, at $86.47
Japanese Yen’s decline intensified today and it’s on the verge of breaking to new historical low against the greenback. Japan’s stock markets are on holiday today, but the strong rally in Nikkei yesterday, which surged 40k psychological mark again, was significant. The robust risk-on sentiment within Japan and its weakening currency are clearly reinforcing each
In this article MU Follow your favorite stocksCREATE FREE ACCOUNT The Micron Technology headquarters in Boise, Idaho, on March 28, 2021. Jeremy Erickson | Bloomberg | Getty Images Shares of Micron popped more than 14% in extended trading on Wednesday after the company announced second-quarter fiscal 2024 results that beat analysts and offered rosy guidance.
Gold price gains strong positive traction for the second straight day and hits a fresh all-time high. The Fed’s projected three rate cuts this year weigh on the USD and benefit the yellow metal. The prevalent risk-on mood prompts some profit-taking amid slightly overbought conditions. Gold price (XAU/USD) trims a part of its intraday gains
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil prices fell on Wednesday after hitting multi-month highs in the previous session, as investors braced for the U.S. Federal Reserve’s interest rate policy announcement later in the day. Brent crude futures for May were down $1.20 or 1.4% at $86.18 a barrel by 1425 GMT. U.S. West Texas Intermediate futures for April delivery, which
Dollar stands firm as the day’s strongest currency, with the financial markets on edge for the Fed’s impending announcement. While interest rate is widely anticipated to hold steady at 5.25-5.50%, the spotlight is on the potential adjustments to Fed’s dot plot. December’s projections hinted at three rate cuts for the year, yet the consensus was
Christine Lagarde, president of the European Central Bank, at the ECB And Its Watchers conference in Frankfurt, Germany, on March 20, 2024. Bloomberg | Bloomberg | Getty Images European Central Bank chief Christine Lagarde on Wednesday reiterated that policymakers will consider bringing interest rates down in June, but sketched an uncertain path beyond that. “By
The US Dollar sees its fifth consecutive gains starting to fade ahead of the Fed. Traders brace for the Fed decision, with Powell and new economic projections on the docket. The US Dollar Index slides back below 104.00 with gains being erased towards the Fed meeting. The US Dollar (USD) faces some hiccups with the Federal
GBPUSD moved up to the 100 bar MA on 4-hour chart The GBPUSD has completed its down and up “lap” that saw the pair move from an Asian session high at 1.27305, to a low in the European session at 1.2667 (and briefly below the 200 bar MA on the 4-hour chart at 1.2673), and
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices were stuck in a tight range on Wednesday as investors refrained from making big bets ahead of the U.S. Federal Reserve‘s policy decision and remarks from Fed Chair Jerome Powell later in the day. FUNDAMENTALS * Spot gold was up 0.1% at $2,159.50 per ounce, as of 0123 GMT. U.S. gold futures also
Yen declines broadly in a classic “sell-on-news” reaction following BoJ’s landmark decision to exit its eight-year negative interest rate policy and announce its first rate hike in 17 years. Although the immediate economic impact of this move is considered minimal, its psychological and symbolic significance cannot be understated. This policy shift was largely anticipated by
EUR/USD attracts some buyers and moves away from a two-week low set on Tuesday. The technical setup warrants some caution for bullish trades ahead of the Fed decision. A sustained break below the 1.0835 confluence should pave the way for deeper losses. The EUR/USD pair edges higher during the Asian session on Wednesday and for