The US economy grew at an annual pace of 2.1% in the second quarter, falling short of the earlier estimate of 2.4%. According to the Bureau of Economic Analysis, “the updated estimates primarily reflected downward revisions to private inventory investment and nonresidential fixed investment, which were partially offset by an …
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Federal Reserve released the minutes from its July 25-26 meeting. The minutes showed most fed officials saw a “significant” upside risk to inflation. US Dollar rises modestly after the minutes. The US Dollar rose modestly after the minutes, reaching fresh highs against the EUR, AUD, NZD, CAD, and JPY. The …
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USD/JPY bears jumped in on a Nikkei news article ahead of the Bank of Japan’s meeting on Friday that took USD/JPY down from 141.10 to 139.20 low in a flash. The Nikkei reported, ” The Bank of Japan will discuss tweaking its yield curve control policy at a policy board …
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Fed hikes interest rate by 25 bps as investors wait for J. Powell’s clues for rest of 2023the Federal Reserve decided to increase its policy rate by 25 basis points to 5.25–5.50%. The Fed has had a difficult time persuading the markets that they will increase interest rates at least …
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Dollar index futures moved in narrow ranges on Friday as investors awaited a key report on US jobs and assessed the possibility of the Federal Reserve raising interest rates for a longer period in light of economic growth expectations. The US Nonfarm Payrolls report is due later on Friday, while …
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The US central bank released the minutes from its June 13-14 meeting. The minutes showed some policymakers favored a rate hike, but went with a pause. The US Dollar pulls back modestly after the minutes.The US Dollar strengthened after the minutes. The DXY printed fresh weekly highs above 103.30 and …
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FOMC Chairman Jerome Powell is commenting on the policy outlook after the Federal Reserve’s decision to leave the policy rate unchanged at 5-5.25% following the June policy meeting.Key Quotes“At this meeting, considering how far and fast we have moved, judged it prudent to hold rates steady.”“Fed projections are not a …
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The Federal Reserve released the minutes from its May 2-3 meeting, when it raised rates by 25 bps. The minutes showed a division on support for more rate hikes. US Dollar holds onto daily gains after minutes. The FOMC released the minutes of the May 2-3 meeting, triggering a limited …
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BoE governor Andrew Bailey said “We are approaching the point when we should be able to let level of rates rest” in statements delivered after central bank raised interest rate by 25 basis points. “We have not yet seen evidence that allows us to be sure rates can stay on …
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The US Federal Reserve (Fed) announced on Wednesday that it raised the policy rate, federal funds rate, by 25 basis points to the range of 5-5.25% following the May policy meeting. This decision came in line with the market expectation. As anticipated, the Fed increased its policy rate by 25 …
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