Fed’s Daly signals one or two more rate cuts likely this year to avoid overtightening
San Francisco Federal Reserve President Mary Daly on Wednesday indicated that the U.S. central bank is likely to cut interest rates again this year, possibly one or two more times, as policymakers work to keep the economy on a stable footing. Daly’s comments follow the Fed’s recent half-percentage point rate cut in September, which she […]
Gold prices edge lower as traders focus on US inflation data amid Fed uncertainty
Gold prices fell for the sixth consecutive day on Wednesday, as traders weighed the implications of the Federal Reserve’s September Meeting Minutes and positioned themselves ahead of key U.S. inflation data. The price of gold (XAU/USD) traded near $2,610, down 0.37%, as the Fed’s latest guidance on interest rates kept pressure on the precious metal. […]
Inflation set to slow in September, but risks of surprises remain as Fed weighs next move
All eyes are on the upcoming September Consumer Price Index (CPI) report, which will serve as a crucial indicator of whether inflation is continuing to ease as the Federal Reserve navigates its next interest rate decision. The report, due Thursday morning, is expected to show a further moderation in inflation, with headline inflation forecasted to […]
Dow Jones surges 450 points as investors shrug off mixed economic data
The Dow Jones Industrial Average (DJIA) rallied by 450 points on Wednesday, pushing the index back above 42,000 in a robust recovery from earlier losses this week. Investors appeared unfazed by softer-than-expected U.S. Wholesale Inventories data and cautiously hawkish comments from Dallas Federal Reserve President Lorie Logan. The rally extended the Dow’s recent bullish momentum, […]
Bitcoin dips below $61K as concerns over PlusToken-related crypto moves spark selling fears
Bitcoin slipped below $61,000 on Wednesday, continuing its recent downtrend amid rising concerns about a potential flood of seized cryptocurrency hitting the market. The slide came as reports emerged that coins linked to the infamous PlusToken Ponzi scheme were being moved to exchanges, heightening fears of selling pressure. This weakness in the crypto market contrasted […]
US Dollar climbs as markets weigh Fed’s rate strategy and mixed economic signals
The U.S. Dollar strengthened on Wednesday, with the U.S. Dollar Index (DXY) rising as markets responded to the latest Federal Open Market Committee (FOMC) Meeting Minutes. The DXY, which measures the dollar’s performance against a basket of six major currencies, climbed as investors reassessed the likelihood of aggressive rate cuts in the coming months. The […]