Gold surges to new all-time high above $2,600, fueled by expectations of further Fed rate cuts. Safe-haven demand spikes due to escalating tension between Israel and Hezbollah. Fed Governor Waller backs 50 bps rate cut; however, dissenting Fed member Michelle Bowman prefers a smaller cut to guard against declaring an early win on inflation. Gold
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Federal Reserve (Fed) Board of Governors member Michelle Bowman clarified on Friday why the policymaker voted against the Fed’s 50 bps jumbo rate cut this week. Fed Governor Waller goes down in the books as the first Fed Governor to vote against both the consensus and the Fed Chair since 2005. Key highlights I agreed it was appropriate
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The major US stock indices are closing the day with mixed results. It was triple witching hour so there was some end-of-day volatility, that could have impacted the price action. At the ending bell, the Dow industrial average is closing higher. The broader S&P and NASDAQ indices are closing lower. They small-cap Russell 2000 was
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Sterling climbed broadly today, fueled by unexpectedly strong UK retail sales data that more than compensated for the lackluster consumer confidence report. Despite ongoing high interest rates and persistent inflation, British consumers appear to be resilient, continuing to spend. This bolsters the position of hawkish members within the BoE’s MPC, who may push harder for
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Mexican Peso continues to weaken, recording losses for three consecutive days amid increasing risk aversion. Fed Governor Waller supports the recent 50 bps rate cut, pointing to easing inflation and hinting at further cuts if labor conditions deteriorate. Banxico anticipated to lower rates by 25 bps next week, potentially sustaining an appealing interest rate differential
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High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
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Speaking at the post-policy meeting press conference on Friday, Bank of Japan (BoJ) Governor Kazuo Ueda said that the Bank “will analyze the impact of whether Yen’s strengthening since August will impact prices by the same degree as previous Yen weakness had on prices.” The BoJ left the benchmark interest rate at 0.15%-0.25% following its September policy meeting.
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