Recent speeches by FOMC members Raphael Bostic, Loretta Mester, and Michelle Bowman have indicated a potential adjustment in the Fed interest rate to reach the 2% inflation target. Bowman also mentioned the possibility of a rate hike if consumer prices rise. This has led to speculations among investors regarding a Fed rate cut in September
Forecasts
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The upcoming retail sales figures are expected to have a significant influence on the Federal Reserve's rate path. A weaker-than-expected retail sales report could indicate a softer inflation outlook, potentially reducing the likelihood of a Fed rate hike in the near future. With economists forecasting a modest increase of 0.4% in April following a 0.7%
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The sensitivity to economic numbers in the market could have a significant impact on the USD/JPY pair. For example, the unexpected increase in the Michigan Inflation Expectations Index led to gains in the USD/JPY following the market reaction on Friday. This shows that investors are closely monitoring economic indicators to make decisions on the currency
Gold prices have shown resilience in 2024 despite a stronger U.S. dollar and hawkish sentiments from the Federal Reserve. While a firm U.S. dollar and hawkish Fed actions typically suppress gold prices, other supportive factors are driving the bullish outlook. The growth in global demand for gold is a crucial element impacting the market. Investment
Upon examining the monthly chart, it becomes evident that GBP is facing a significant hurdle at the high of $1.3142. This level, located close to the resistance of $1.3111, must be surpassed for a long-term uptrend to be established. Failure to breach this level could result in a downside target of $1.2173, which is currently
The recent downgrade in inflation forecasts by the central bank has added to the overall dovish tone in monetary policy decisions. The projections indicate that inflation is expected to reach the 2.0% target in Q2 of this year, with a subsequent increase to approximately 2.6% in the second half of the year. However, these figures
Investors closely monitor the Reserve Bank of Australia (RBA) chatter, especially in relation to the Aussie labor market. RBA Chief Economist Sarah Hunter is scheduled to speak later in the week, and her views on household spending, the labor market, and inflation could significantly influence investor sentiment regarding the RBA's rate path. On Monday, attention
Gold prices experienced a significant increase on Friday, marking their strongest week since early April. The surge was driven by disappointing U.S. employment figures, which have heightened expectations for Federal Reserve interest rate cuts in the near future. Spot gold rose by 1.1% to $2,372.16 per ounce, reaching a two-week high. This uptick resulted in
The forecast for the USD/JPY exchange rate heavily relies on economic indicators such as the Michigan Inflation Expectations Index and the Michigan Consumer Expectations Index. While these figures provide some insights, they fail to capture the full complexity of the currency market. Investors should be cautious when making decisions based solely on these indicators as
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