Two more 25 bps rate hikes in March and May could result in a terminal 5.00%-5.25% by May. The FOMC meeting minutes provided additional information about the Fed’s committee’s decision to hike rates by 25 bps in February. Economists are now looking forward to a 5.25% terminal rate at the …

Gold price triggered another bearish run after FOMC Minutes showed a hawkish stance by Fed officials. The US dollar stays dominant across the board despite US Gross Domestic Product disappointing on the second estimate for Q4 2022.Gold price keeps trending lower on Thursday after a bearish Wednesday, where the precious …

The US Dollar benefited from the hawkish FOMC Minutes, accelerating its move by the end of the US trading session. The document showed that a few participants favored a 50 basis point (bps) rate hike, while some believed there was an elevated risk of a recession in 2023.Key DevelopmentsAll FOMC …

On Wednesday, the dollar index rose by +0.39%. The dollar moved moderately higher and is just below last Friday’s 6-week high. A slump in stocks Wednesday boosted the liquidity demand for the dollar. Also, the hawkish minutes of the Jan 31-Feb 1 FOMC meeting supported the dollar, with policymakers anticipating …

US stocks closed lower on Wednesday as traders and investors are busy digesting the summary of the Fed’s latest meeting minutes, looking for clues on the central bank’s next move against inflation. The Dow Jones Industrial Average dropped 84.50 points, or 0.26%, ending at 33,045.09. The S&P 500 fell 0.16% …

The first minutes of the FOMC in 2023 showed that some Fed officials wanted a 50 bps rate hike. Policymakers’ worries are linked to a tight labor market and commented inflation risks are tilted upwards. The AUD/USD pair prolonged its losses during the Wednesday session and dropped nearby the day’s …

The Reserve Bank of New Zealand’s governor, Adrian Orr has said that core inflation is too high and that expectations are elevated.Orr has voiced concerns over the difficulties people faced paying for goods and services while power, communications and services were down in flood-affected regions.Orr indicated he was not happy …

The first FOMC Minutes in 2023 has been released with investors searching for further insights into the near-term path for policy and any comments regarding the possibility of the Federal Reserve going back to 50 bps hikes. The US Dollar ran higher from a new low at 104.25 in the …

Stock indices are mixed after giving up their earlier gains. The Nasdaq 100 (NDX), S&P 500 (SPX), and Dow Jones Industrial Average are roughly flat as of 11:47 a.m. EST, Wednesday.US Stock indices opened Wednesday’s trading with generally positive performance but close to the flatline in anticipation of the minutes …

Gold holds firm at around $1,835 as traders awaiting Fed minutes. Money market futures began to price in interest rates in the US in the 5.25%-5.50% range.Gold price recovers some ground, though it remains almost flat compared to its opening price. However, it clings to minimal gains before the release …