About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
|The Federal Reserve is expected to raise interest rates at least three times this year. The firm economic growth and inflation in the United States give the central bank reasons to increase the interest rate this time. If the Fed raises the rate, it will support the dollar that has been suffering for a long time. On the other hand, the absence of a rate hike will be a big disappointment and lead to a selloff in the USD. The Fed’s decision will be known at 20:00 MT time. Press conference of the Fed’s Chair Jerome Powell will start at 20:30 MT time.|
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.