The US Dollar Index (DXY), which had earlier risen above 104.00, eventually dropped later on Wednesday after FOMC decision, hitting lows of 103.00s. FOMC decision, to keep interest rate unchanged in March, significantly had an impact on market mood including the performance of US stocks as well as gold prices.Economic …
Read More »US Dollar Nosedives After FOMC Rate Decision
Following the FOMC’s decision to keep interest rates steady and Fed Chair Jerome Powell’s press conference, which in March established a higher for longer attitude while also hinting at three rate decreases before 2024 ends, the US dollar fell to its lowest point this week.FOMC Decision in Line with Expectations …
Read More »Fed Signals Interest Rate Cuts in 2024
On Wednesday, the Federal Reserve kept the interest rate in the 5.25%-5.50% area without any change at the end of its meeting that began one day ago, which was in line with market expectations.The central bank has been holding the interest rate at these levels since July 2023, when the …
Read More »Ahead of FOMC: Investors Still Perplexed About Rate Cut Timing
Following its meeting in March, the Federal Reserve (Fed) is anticipated to make announcements regarding monetary policy and to release the updated Summary of Economic Projections (SEP), also known as the dot plot, on Wednesday. For the sixth consecutive meeting, market participants predict that the US central bank will maintain …
Read More »US bond yields decline ahead of the Fed’s decision
US Treasury bond yields have been declining since the start of the Federal Open Market Committee meeting earlier on Tuesday, with markets awaiting the FOMC decision to be issued, Wednesday, amid expectations that the Federal Reserve will keep the interest rate unchanged.Expectations of a rate cut by the Federal Reserve …
Read More »Strong Housing Data Pushes US Dollar Higher Ahead of FOMC Decision
Positive signs emerged from the US housing market as both Housing Starts and Building Permits in February surpassed expectations. This data bolstered the US Dollar Index (DXY) which climbed to its highest point since early March, currently hovering around 104.00; specifically 0.05% up at 103.836.All eyes are now on the …
Read More »US Stock Market Rebounds Led by Tech Surge
The stock market closed higher on Monday, reversing recent losses, particularly in the tech sector. This shift came as investors awaited developments in artificial intelligence (AI) and upcoming guidance from the Federal Reserve. Market Gains: All major indices rose. The Dow Jones Industrial Average gained 0.2%, the S&P 500 climbed …
Read More »US Dollar Starts Policy Decision’s Week with Gains
The dollar is seeing gains ahead of FOMC decision. The DXY Index is 0.16% up on the day, trading at 103.612 at the time of writing. As for the broader context for this performance, FOMC decision will attempt to maintain balancing between inflation and growth.Despite recent gains, the DXY remains …
Read More »FOMC: No rate cuts unless inflation further moderates
The minutes from the most recent meeting of the Federal Reserve indicate that before hiking interest rates, officials will need to see more proof that inflation is heading downward. Though they aren’t prepared to drop rates just yet, policymakers don’t see rates rising during this economic cycle.Several members of the …
Read More »Fed confident inflation is heading toward 2% target
Michael Barr, the vice chair of the Federal Reserve’s Supervision Committee, sent out a statement to news outlets late on Wednesday stating that the FOMC and the Fed as a whole are still optimistic that US inflation will approach the 2% target.Barr is closely watching the situation and does not …
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