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Powell speech: We moved quickly to get to here, going forward we will move slower
World FX news
Breaking news
Powell speech: We moved quickly to get to here, going forward we will move slower
New
2024.12.19 05:05
2024.12.19 05:05
2024.12.19 05:05
Federal Reserve Chairman Jerome Powell explains the decision to cut the policy rate, federal funds rate, by 25 basis points to the range of 4.25%-4.5% after the December meeting and responds to questions in the post-meeting press conference.
Key quotes
"We do think labor market is still cooling, watching it closely."
"Labor market is not cooling in a way that raises concerns."
"We are in a new phase in the process."
"We are still meaningfully restrictive, closer to neutral, appropriate to move cautiously."
"We've done a lot to support economic activity."
"From now we are in a place where we need to see progress on inflation."
"We moved quickly to get to here, going forward we will move slower."
Last updated
: 2024.12.19
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US Dollar trades steady while markets await NFP report
The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, is trading steady this Friday, at 109.17 at the time of writing, ahead of the US employment report due later.
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2025.01.10 21:16USD/JPY: The pair is expected to trade with an upward bias - UOB Group
US Dollar (USD) is expected to trade in a range between 157.60 and 158.55. In the longer run, USD is expected to trade with an upward bias; any advance is expected to face significant resistance at 159.00, UOB Group's FX analysts Quek Ser Leang and Lee Sue Ann note.
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2025.01.10 20:58Fed's Musalem: Greater caution is warranted on reducing interest rates - WSJ
In an interview with the Wall Street Journal, St. Louis Federal Reserve President Alberto Musalem suggested that greater caution is warranted on reducing interest rates, per Reuters.
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2025.01.10 20:52EU natural gas prices get weaker - ING
In Europe, refined product inventories in the ARA region increased by 50kt WoW to 6.77mt. The increase was driven by gasoline stocks which grew by 120kt. All other products saw a decline in inventories with gasoil stocks falling by 35kt.
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2025.01.10 20:51NZD/USD: Sustained break below 0.5570 seems unlikely - UOB Group
Scope for the New Zealand (NZD) to test the 0.5570 level; a sustained break below this level seems unlikely. In the longer run, risk for NZD is beginning to shift to the downside, but it must break clearly below 0.5570, UOB Group's FX analysts Quek Ser Leang and Lee Sue Ann note.
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2025.01.10 20:46Oil remains well supported - ING
Oil prices remain well supported with ICE Brent settling 1% higher yesterday, ING's commodity analysts Warren Patterson and Ewa Manthey note.
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2025.01.10 20:35Gold positions for a breakout ahead of December's NFP report
Gold's price (XAU/USD) is set to keep its winning streak for a fourth straight day this week, currently trading around $2,680 at the time of writing on Friday.
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2025.01.10 20:34GBP: UK Treasury eases market nerves - ING
The 10-year gilt stabilised around 4.80% yesterday, which has allowed the pound to partially recover after hitting a 1.224 low yesterday morning.
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2025.01.10 20:32AUD/USD: Next support at 0.6150 is not expected to come under threat - UOB Group
AUD could retest the 0.6175 level; the next support at 0.6150 is not expected to come under threat. In the longer run, AUD must break and remain below 0.6180 before further weakness can be expected, UOB Group's FX analysts Quek Ser Leang and Lee Sue Ann note.
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2025.01.10 20:30CAD is pressured by the perceived risk of a US-Canada trade war - ING
Employment data for December is also released in Canada today, where expectations are for a slowdown in hiring to 25k and another tick-up in unemployment to 6.9%, ING's FX analyst Francesco Pesole notes.
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2025.01.10 20:20Disclaimer:
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