Home Business News Markets focus on central bankers comments

The US dollar stabilized today after two sessions of corrections, as markets continue assessing the Federal Reserve’s potential timing for a rate cut.

Many Fed officials have spoken this week, and they will continue to do so today. Fed members continue to support that rates could remain elevated until inflation is clearly moving toward its target and have tempering market optimism about the number of interest rate cuts this year.

Markets will continue to monitor economic data closely, with today’s job market data possibly affecting the dollar’s performance.

The Euro remained under some pressure despite the dollar steadying. The European currency could continue to face difficult economic conditions in the euro area, especially in countries like Germany, where Industrial Production continued to decline.

Markets could also react to the release of German inflation figures tomorrow while they remain skeptical about the ECB’s monetary policy stance.

The Pound corrected to a certain extent after two successive sessions of gains against the dollar. The currency could continue to benefit from the generally hawkish stance of Bank of England (BoE) members, given high inflation.

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