Will We have Another Rate Cut In December?
Hey Traders
After this week's inflation data and the Fed meeting on Thursday the dollar steadied at a one year-peak, set for a strong week as markets dialed back bets on lower U.S interest rates. The Fed appeared less dovish based on strong U.S inflation readings which added to the dollar strength.
However, under the Trump administration, inflation is expected to go up as a result of their expansionary policies. During the Fed meeting on Thursday, Fed chair Jerome Powel said that due to the resilience of the U.S economy they have more time to consider cutting rates. This comment reduced expectations for a 25 basis point cut in December.
Strong U.S inflation data and less dovish signals from the Fed sparked doubts over lower interest rates. As it stands, Gold set to lose over 4% this week with its worst performance since June 2021.
Bitcoin fell from its near record highs as optimism over a Trump presidency oiled, while broader risk appetite was hit by increased uncertainty over U.S interest rates.
After this week's inflation data and the Fed meeting on Thursday the dollar steadied at a one year-peak, set for a strong week as markets dialed back bets on lower U.S interest rates. The Fed appeared less dovish based on strong U.S inflation readings which added to the dollar strength.
However, under the Trump administration, inflation is expected to go up as a result of their expansionary policies. During the Fed meeting on Thursday, Fed chair Jerome Powel said that due to the resilience of the U.S economy they have more time to consider cutting rates. This comment reduced expectations for a 25 basis point cut in December.
Strong U.S inflation data and less dovish signals from the Fed sparked doubts over lower interest rates. As it stands, Gold set to lose over 4% this week with its worst performance since June 2021.
Bitcoin fell from its near record highs as optimism over a Trump presidency oiled, while broader risk appetite was hit by increased uncertainty over U.S interest rates.
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