Author: FX
A bit of calm was seen in the financial markets before volatility picked up around the OPEC announcement and the release of the FOMC meeting minutes. In the forex scene, the Australian CPI and RBNZ interest rate decision sparked notable moves as well. Here are headlines you may have missed in the last trading sessions! Headlines: Australia Consumer Prices Index for April 2025: 2.4% y/y (2.1% y/y forecast; 2.4% y/y previous) Australia Construction Work Done for March 31, 2025: 0.0% q/q (0.4% q/q forecast; 0.5% q/q previous) Bank of Japan Governor Ueda said tariff negotiations means outlook remains uncertain and that…
The Federal Reserve’s May 6-7 meeting minutes revealed central bank officials grappling with unprecedented uncertainty about how President Trump’s tariff policies will affect the U.S. economy. The minutes showed Fed staff now view a recession as “almost as likely” as their baseline forecast, marking a much darker assessment than their previous March meeting. The Fed is essentially caught in a policy dilemma: Tariffs could push inflation higher (which would normally call for keeping interest rates high), while simultaneously slowing economic growth and increasing unemployment (which would normally call for cutting interest rates to stimulate the economy). This creates what officials…
The times below are GMT/US Eastern time:1230/0830 Federal Reserve Bank of Richmond President Thomas Barkin participates in a fireside chat before the Housing Partnership Network1440/1040 Federal Reserve Bank of Chicago President Austan Goolsbee participates in a moderated question-and-answer session before the 2025 Mackinac Policy Conference hosted by the Detroit Regional Chamber, in Mackinac Island, Mich1800/1400 Federal Reserve Board Governor Adriana Kugler gives opening remarks before virtual 5th Annual Federal Reserve Board Macro-Finance Workshop0025/2025 Federal Reserve Bank of Dallas President Lorie Logan gives opening remarks and participates in moderated conversation before the Greater Waco Member Appreciation eventThe striking down of blanket…
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.1907 as compared to the previous day’s fix of 7.1894 and 7.2033 Reuters estimate. PBOC FAQs The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China’s central bank also aims to implement financial reforms, such as opening and developing the financial market. The PBoC is owned by the state of the People’s Republic of China (PRC), so it is not considered an autonomous institution. The…
UK services sector sentiment hits 2-1/2-year low, CBI says Source link
Reserve Bank of New Zealand Governor Hawkesby:See near term growth headwindsThere’s weaker demand and weaker inflation pressures than there were in FebruaryThere are a lot of different ways that this could play out from hereThere is uncertinaty around where those tariffs will land, they could be very different Reserve Bank of New Zealand Chief Economist ConwayProbably a little more pessimistic on New Zealand’s medium-term productivity performanceInflation expectations have nudged up across the board, which is not idealReserve Bank of New Zealand Assistant Governor Silk:Forecasting a modest increase in house prices due to rate cutsNew Zealand house prices at the top…
USD/CHF rises from a one-month low but struggles to breach key 0.83 resistance on Wednesday.Fed Minutes highlight rising stagflation risks, prompting traders to price in 45 bps of rate cuts.RSI turning higher hints at weakening bearish pressure; key support lies at 0.8200 and 0.8184.USD/CHF halts its advance after posting back-to-back days of gains that pushed the pair to its weekly high of 0.8290. However, buyers remain in charge, even though the pair is near its opening price at 0.8270.The release of the latest Federal Reserve (Fed) Minutes revealed that officials agreed that high economic uncertainty was enough to adopt a…
Iran may agree to pause nuclear enrichment work temporarily, if US recognizes Tehran’s right to enrich uranium for civilian uses. Temporary halt to nuclear activity under a political agreement would also require US to release frozen Iranian funds.The price of crude oil came off highs which peaked at $62.50 and was trading near $62.34 prior to the headline. The price low off of the news reached to $61.86. The current price is trading back above $62 and $62.15.When you ask, how much do you trust your enemies?—the implied answer seems to be: not much, and perhaps not at all. Temporary…
Gold price recovers to near $3,305 despite increasing hopes for a US-EU trade deal.Russia’s Putin demands that NATO restrict its eastern expansion in writing.Investors await FOMC minutes and the US PCE inflation data for April.Gold price (XAU/USD) trades higher 0.15% to near $3,305 during North American trading hours on Wednesday, following an over 1% sell-off the previous day. The yellow metal ticks up as hopes of a ceasefire between Russia and Ukraine have diminished. Gold price tends to perform better in heightened geopolitical tensions. Russian leader Vladimir Putin has demanded assurance from Western leaders to restrict the NATO enlargement on…
NiseriN/iStock via Getty ImagesTwo workers injured in a May 20 fire on a Chevron (NYSE:CVX) oil platform off the coast of Angola have died, bringing the number of fatalities in the incident to three, government and company officials said late Tuesday. The workers Source link