What to watch for on Friday, August 26: The dollar ended Thursday mixed across the currency board, although there was no significant change among the major pairs. Investors were slightly optimistic as macroeconomic figures were upbeat but cautious before central bank governors speak on the sidelines of the Jackson Hole Economic Symposium. Germany reported that […]
Tag: central banks
Fed: A 50 basis point hike in September would still be a substantial move – Patrick Harker
The president of the Philadelphia Fed, Patrick Harkernoted on Thursday that wants to see next inflation reading before deciding on September rate decision, but added a 50 basis point rate hike would still be a substantial moveaccording to Reuters. Featured Statements “We have to reach a restrictive position, which will be at the end of […]
Forex Today – Asian Session: Caution Prevails Ahead of Jackson Hole
What to watch for on Thursday, August 25: The dollar wavered between gains and losses, ending the day mixed, but little changed on the currency board. The US currency advanced earlier in the day but gave up some ground after the Wall Street open as US stocks managed to post modest gains. In the United […]
Gold Price Forecast: XAU/USD Holds Near $1,750 Awaiting Jackson Hole
The price of gold remains stable after bouncing from its monthly low. DXY pullback underpins rally as yields decline, recession woes test XAU/USD bulls. Cautious sentiment ahead of the Jackson Hole symposium and US data could restrict immediate moves. The Gold price (XAU/USD) remains lateralized near 1,745-46 dollarsafter the rebound from the monthly low, as […]
EUR/USD lower on USD firmness and risk aversion momentum
EUR/USD is preparing to end the week with heavy losses above 2%. Fed officials insist that this is not the time to declare “victory” while adding that further rate hikes are coming. Schnabel and Kazaks of the ECB expect another rate hike in September. The EUR/USD falls for the second day in a row on […]
Fed: There is a lot of time left before deciding the size of the rate hike in September — Thomas Barkin
The president of the Richmond Federal Reserve Bank, Thomas Barkin, said on Friday that FOMC policymakers have “a lot of time yet” before deciding the size of the September rate hike, Reuters reports. Other points to consider “The Fed will need to move rates into tightening territory, but will take a cue from the economy […]
Fed: I consider a hike of 50 or 75 basis points in September reasonable – Mary Daly
In an interview given to CNN on Thursday, the San Francisco Fed President Mary Dalyreiterated that it’s too early to declare victory over inflationas reported by Reuters. Daly also noted that basic services inflation was still on the rise, adding that they would continue to raise rates to “straighten it out.” As for the September […]
Turkey: Central Bank cuts interest rate by 100 basis points to 13%
The Central Bank of the Republic of Turkey (CBTR) lowered its benchmark interest rate, the one-week repo rate, by 100 basis points to 13% from 14%. This generated a sharp drop in the lira. USD/TRY jumped to 18.15 before smoothing up to 18.05. “The deflation process is expected to begin“, stated the CBTR. The central […]
EUR/USD hits a daily high around 1.0202 after the FOMC Minutes
EUR/USD rose nearly 50 pips after the release of the July minutes. All Fed members agreed to raise 75 basis points at the July meeting. Fed members acknowledge that they will slow the pace of tightening at “some point”. The EUR/USD soared over the last hour due to the release of the Federal Reserve Open […]
The RBNZ raises its interest rates by 50 basis points to 3% and anticipates more increases
The The Monetary Policy Committee has today increased the official interest rate on cash (OCR) from 2.5% to 3%, meeting expectations of a 50 basis point rise. This is the seventh consecutive increase in rates, reaching their highest level since 2015. Reserve Bank of New Zealand statement Demand from the New Zealand economy has been […]