The week was overfilled with events, especially from the BRICS summit and Jackson Hole meeting. Altogether, the market gained some fantastic opportunities. Here’s what we have for today’s session:
Trump dislikes recent American interest rate lifts
On Thursday, American leader Donald Trump unveiled that he generally disliked the Fed’s decision to have interest rates lifted, telling that he was concerned about their probable impact on the American economy as well as American competitiveness.
He told that the Fed tends to lift rates each time the US economy goes up, but he doesn’t like this approach. Nevertheless, he allows them to do what they find to be an ideal solution in this situation.
US leader stressed that he was afraid that the key US bank’s rate lifts might put his country at a sort of disadvantage, while the BOJ and the ECB keep their monetary policy intact.
It wasn’t the first time US leader broke up with a long-standing practice of American presidents staying away from commenting on the major US bank’s policy as well as the value of the greenback, a custom he dared to dismiss.
Then, he told that he fully respects the major bank’s independence and he’s not going to interfere with its decisions.
The USD index cut its revenues after Trump's remarks, while revenues on American Treasury securities reached session minimums. American equities briefly pared dives after news of his remarks.
The main American financial institution has lifted interest rates five times since Donald Trump took office last year, extending the campaign it started in 2015.
In June, the Federal Reserve had borrowing costs lifted in June. On Wednesday, Fed Chair Jerome Powell reiterated his oft-stated opinion that rates are going to resume soaring gradually. By the way, not so long ago Donald Trump dubbed Powell “a good guy.”
The vast majority of Fed policymakers consider the American job market to be close to their full strength. Meanwhile, inflation has recently ascended to the major bank’s 2% objective.
A week full of impactful events is waiting for us. US CPI, PPI, and UK Interest Rate will drive the market. Let’s not waste our time and delve into the economic calendar.
Hello everyone, and welcome to Wednesday! Let's find out the most exciting and essential news for traders…
Welcome to the first week of October! As usual, at the start of the week, we are looking for valuable insights that will bring us profits in trading. Let’s observe the main events.
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