Author: FX

Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: Fed Holds Steady, Ditches Tightening Bias; Gold and US Dollar on the MoveThe Federal Reserve on Wednesday concluded its first monetary policy meeting of the year, voting to maintain borrowing costs unchanged at their present 5.25% to 5.50% range, in a decision widely expected by market participants.The FOMC also dropped its tightening bias, but signaled that it is not yet ready to ease its stance imminently. Powell went further during his post-meeting press conference, admitting that…

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© Reuters. By Niket Nishant and Nupur Anand (Reuters) -Regional U.S. bank stocks sank on Wednesday, dragged down by a 37% plunge in the shares of New York Community Bancorp (NYSE:) after it cut its dividend and posted a surprise loss, renewing fears over the health of similar lenders. The KBW Regional Banking Index fell by nearly 4%, putting it on track for its biggest one-day drop since May 2 last year after JPMorgan Chase (NYSE:) announced it was buying failed First Republic Bank (OTC:). It was the third bank to collapse on deposit runs last year after Silicon Valley…

FOMC INTEREST RATE DECISION KEY POINTSThe Fed holds interest rates steady at its January meeting, in line with expectationsPolicymakers drop their tightening bias in favor of a more neutral stance, but signal a rate cut is not imminentGold price trim gains as the U.S. dollar and yields attempt to mount a recovery Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: US Dollar Tech Setups– EUR/USD, GBP/USD, USD/JPY, USD/CAD; Volatility AheadThe Federal Reserve concluded its first monetary policy gathering of 2024 today and voted by…

The full statement from the January 2024 Federal Reserve meeting:January 31, 2024Federal Reserve issues FOMC statementFor release at 2:00 p.m. ESTRecent indicators suggest that economic activity has been expanding at a solid pace. Job gains have moderated since early last year but remain strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated.The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals are moving into better balance. The economic outlook…

Share: The Canadian Dollar recovered some ground after GDP surprised to the upside. Canada saw 0.2% GDP growth in November, which beat consensus. Fed rate call and press conference due in the latter half of the US trading session. The Canadian Dollar (CAD) edged higher on Wednesday after Canadian Gross Domestic Product (GDP) figures beat expectations to post growth for the first time since May. The Federal Reserve’s latest rate call is due at 19:00 GMT, with a press conference to be headed by Fed Chairman Jerome Powell at 19:30 GMT. Canada saw growth in its MoM GDP…

Cable (GBP/USD) Analysis Recommended by Richard Snow Get Your Free GBP Forecast A Big Couple of Days for Major Central Bankers (Fed, BoE)The Fed is all set to provide an update on its policy settings but there is a strong expectations there will be no change in the interest rate. Instead, markets are looking for clues on the bank’s thinking and whether a March or May cut is preferred. However, the data-dependent Fed is more likely to bide its time, opting to digest incoming data before making such a decision.Then tomorrow the Bank of England (BoE) will have its turn…

franckreporter/iStock via Getty Images AllianceBernstein indicated that investors should consider opportunities in places such as quality growth, value, high dividend, and low volatility positions. The investment institution highlighted that the U.S. consumer has supported growth so far this year, but the firm anticipates that the edge will begin to ease off this year largely in part because physical support has been taken away. From a macro snapshot AllianceBernstein said: “Core inflation should tail off toward 2.5%, with real GDP growth moderating to a below-trend 0.8%. Rate cuts, which will likely kick off around midyear, will likely end up somewhere between…

© Reuters. FILE PHOTO: People carry their shopping bags in downtown Hamburg, Germany, January 25, 2018. REUTERS/Fabian Bimmer//File Photo By Maria Martinez BERLIN (Reuters) -German inflation eased slightly more than expected in January to 3.1%, preliminary data from the federal statistics office showed on Wednesday, helped by a drop in energy prices. German consumer prices, harmonised to compare with other European Union countries, had risen by 3.8% year-on-year in December. “The drop in German inflation will fuel speculation about an early European Central Bank rate cut, but underneath a favourable headline inflation there are still enough price pressures to worry…

EUR/USD Forecast – Prices, Charts, and AnalysisGerman inflation continues to fall as energy costs tumble.FOMC and US NFPs will steer EUR/USD in the short term.Download our Q1 Euro Technical and Fundamental Reports Below: Recommended by Nick Cawley Get Your Free EUR Forecast Most Read: Euro (EUR/USD) Pares Recent Losses After German and Euro Aera Q4 ReleasesGerman inflation fell by more than expected in January, official data showed today, hitting the lowest level since June 2021, as goods inflation fell sharply. Energy costs fell by 2.8%, compared to a 4.1% increase in December, while food inflation fell from 4.5% to 3.8%.For…