Forex, oil, gold, and stocks on April 4-8
Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
Will the Fed cut its rate?
The Federal Open Market Committee will release its statement and announce the interest rate on July 31, at 21:00 MT time. After that, the Fed Chair Jerome Powell will hold a press conference at 21:30 MT time.
The market is awaiting the rate cut. Analysts bet that the cut from 2.5% to 2.25% has a high possibility to happen. During the testimony earlier this month, Mr. Powell hinted that easing is needed to support the current economic conditions of the US. According to him, they may be affected by the worsening global economic outlook and trade tensions. The US dollar weakened after his words. Let’s see if the head of the Federal Reserve surprises the market.
• If the Fed cut the rate, the USD will weaken;
• If the Fed does not cut the rate, the USD will strengthen.
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Latest news
What Will Bring the Core PCE Price Index Release?
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The Big Release for the USD
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
Will New Zealand’s Central Bank Boost the NZD?
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
