In its Semi-Annual Monetary Policy Report published on Friday, the Federal Reserve (Fed) noted that they have seen modest further progress on inflation this year but added that they still need greater confidence before moving to rate cuts, pre Reuters. Key takeaways “Labor supply and demand resembles period right before the pandemic, when the labor market was […]
The Minutes of the Fed’s June 11-12 policy meeting will be published on Wednesday. Details of Jerome Powell and Co’s hawkish hold and their inflation outlook will be scrutinized. Markets wager a roughly 67% chance of a Fed interest-rate cut in September. The Minutes of the US Federal Reserve (Fed) June 11-12 monetary policy meeting […]
Central bank events in Europe gave the Dollar some support on Thursday, Francesco Pesole, FX Strategist at ING argues. DXY may trade closer to 106.00 “The surprise rate cut by the Swiss National Bank and a dovish hold by the Bank of England reinforced the notion that central banks in Europe are way ahead of the […]
Federal Reserve (Fed) Bank of Richmond President Tom Barkin spoke to reports late Thursday, noting that the Fed has sufficient firepower to address policy issues looking forward, but will have to maintain a strict data-dependent approach as policymakers look to time rate cuts appropriately. Key highlights The impact of Fed rate increases will hit in […]
Federal Reserve Chairman Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25%-5.5% and responds to questions in the post-meeting press conference. Key quotes “We need further confidence, more good inflation readings but won’t be specific about how many to start rate cuts.” “We’ll also be […]
European Central Bank (ECB) President Christine Lagarde noted that interest rates aren’t hard-locked to a steady path of declines, warning markets that expectations of time-dependent rate cuts isn’t helpful to the ECB’s goals. Key highlights Interest rates are not necessarily on a linear-declining path, there might be periods when we hold. It is possible ECB […]
The European Central Bank is set to cut interest rates by 25 bps on Thursday. ECB President Christine Lagarde could stick to a data-dependent stance on future rate outlook. The Euro’s fate hinges on the ECB’s updated forecasts and Lagarde’s speech. The European Central Bank (ECB) is set to announce its first interest rate cut […]
Share: European Central Bank (ECB) President Christine Lagarde stated on Friday that critical inflation expectations remain anchored at 2%. She emphasized the importance of these expectations and expressed confidence that inflation numbers would look different by the end of the current year. During an interview with Bloomberg TV, Lagarde mentioned that they would […]
Share: Cleveland Federal Reserve President Loretta Mester told CNBC on Friday that they probably have some more work to do with rates, per Reuters. Additional takeaways “We are getting close to where we need to be with rates.” “We need to see more evidence inflation is cooling.” “Economy momentum has been stronger.” “Fed […]
Share: Federal Reserve Bank of Philadelphia President Patrick Harker told Bloomberg on Friday that he doesn’t see the need now for additional rate increases but added that he could call for more hikes if inflation retreat stalled. Additional takeaways “Should hold rates steady and see how policy affects the economy.” “Labor markets are […]
Share: “If inflation remains high and demand gives no signal it is likely to drop, that would require tighter monetary policy,” Federal Reserve Bank of Richmond President Thomas Barkin said on Tuesday, as reported by Reuters. “Consumer spending, economic strength make it possible the US economy could reaccelerate before inflation cools,” Barkin added but noted […]
Share: AUD/USD remains depressed at YTD low after five-week losing streak. Weekend news from China pauses further downside of Aussie pair ahead of top-tier data/events. PBoC is expected to cut benchmark rates after trimming other rates earlier in August. Aussie/US PMIs, Jackson Hole Symposium eyed for clear directions. AUD/USD holds lower grounds near […]
