Fed Raises Rates by Quarter Point, Signals Pause in Hiking Cycle
The Federal Reserve raised interest rates by 25 basis points to 5.0%-5.25% at the end of its May policy meeting, dropping language that it anticipates additional policy firming.
The Federal Reserve raised interest rates by 25 basis points to 5.0%-5.25% at the end of its May policy meeting, dropping language that it anticipates additional policy firming.
Oil prices extend losses from the previous session and fall to their lowest level since late March, dragged lower by growing economic headwinds, including the possibility of a U.S. recession.
The USD slid after the ISM services report exposed a large decline in the employment reading, setting the stage for the FOMC announcement later today.
The pound has held up nicely against the dollar but has lost ground against the euro. This week is all about the Fed and ECB which will be the driving forces behind FX
The Federal Reserve and the European Central Bank will announce their latest policy decisions in the next 24 hours and that makes trading EUR/USD a tricky proposition.
Spot Gold Benefits as Safe Haven Appeal Returns. Will the FOMC meeting provide the catalyst for fresh highs?
USD/JPY now looks to key US economic data and the FOMC for guidance while keeping a close eye on the developing banking crisis. Yen sandwiched between 135 and 140.
Global equity markets rose while the US dollar slipped in the past week on growing expectations that the US Federal Reserve is nearing the end of its tightening cycle. Key focus is now on Euro area, UK, Japan, Canada, and New Zealand inflation data in the coming week as the US earnings picks up steam.
The gold price found support overnight with concerns around the US banking sector undermining sentiment and perceived haven assets gaining lustre. Will XAU/USD make a new peak?