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U.S. Dollar Rebounds As Fed Signals Only One Rate Cut This Year
The U.S. dollar recovered against its major counterparts in the New York session on Wednesday, as the Federal Reserve kept its benchmark rate unchanged as widely expected and projected just one rate cut this year.
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What Makes This Economist Think Two Fed Rate Cuts Are Possible This Year?
The U.S. Federal Reserve left the federal funds rate target unchanged on Wednesday and forecast just one interest rate cut for this year, but Capital Economics thinks two rate cuts are possible. "Overall, there's nothing here that rules out a September rate cut," Capital Economics economist Paul Ashworth said.
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Fed Leaves Interest Rates Unchanged, Forecasts Just One Rate Cut This Year
While announcing its widely expected decision to leave interest rates unchanged on Wednesday, the Federal Reserve also revealed officials now expect only one interest rate cut this year. In support of its goals of maximum employment and inflation at the rate of 2 percent over the longer run, the Fed said it decided to maintain the target range for the federal funds rate at 5.25 to 5.50 percent.
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Swiss Market Ends On Firm Note
The Switzerland market shrugged off a slightly weak start and climbed higher on Wednesday after soft inflation data from the U.S. raised hopes the Federal Reserve will reduce interest rate a couple of times this year.
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European Stocks Close Higher As Soft U.S. Inflation Data Aids Sentiment
European stocks closed higher on Wednesday after softer than expected U.S. consumer price inflation data helped ease concerns about the outlook for interest rate.
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U.S. Dollar Drops As Slowing Inflation Lifts Rate Cut Hopes
The U.S. dollar weakened against its major counterparts in the New York session on Wednesday, as inflation came in lower than expected in May, reviving hopes for a rate cut by the Federal Reserve in September.
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Canadian Stocks Up In Positive Territory As Investors Cheer Tame U.S. CPI Data
Canadian stocks are up in positive territory around noon on Wednesday amid renewed optimism about the outlook for Federal Reserve's interest rates after data showed U.S. consumer price inflation came in unchanged in May, as against expectations of a 0.1% rise.
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Berita lainnya
U.S. Crude Oil Inventories Unexpectedly Jump By 3.7 Million Barrels
Crude oil inventories in the U.S. unexpectedly saw a significant increase in the week ended June 7th, according to a report released by the Energy Information Administration on Wednesday.
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Sphere Entertainment Promotes Jennifer Koester To President And COO
Live entertainment and media company Sphere Entertainment Co. (SPHR) announced Wednesday that Jennifer Koester's role at the Company has been expanded to President and Chief Operating Officer of Sphere. Koester most recently served as the Company's President, Sphere Business Operations.
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EU To Impose Countervailing Duties Of Up To 38.1% On Chinese BEVs
The European Commission is set to impose countervailing duties of up to 38.1 percent on imports of battery electric vehicles (BEVs) from China. The Commission has provisionally concluded that the BEV value chain in China benefits from unfair subsidization as part of its ongoing investigation.
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Elon Musk Drops Lawsuit Against OpenAI, Sam Altman
Elon Musk, the founder and CEO of Tesla and SpaceX, moved to dismiss his lawsuit against artificial intelligence or AI startup OpenAI and its CEO Sam Altman. According to a filing in San Francisco Superior Court, Musk's attorneys asked the California state court to dismiss the lawsuit against the ChatGPT maker without citing a reason.
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U.S. Consumer Prices Unexpectedly Flat In May, Annual Growth Slows To 3.3%
With a steep drop in gasoline prices partly offsetting a continued increase in shelter prices, the Labor Department released a report on Wednesday showing U.S. consumer prices were unexpectedly flat in the month of May. The Labor Department said its consumer price index came in unchanged in May after rising by 0.3 percent in April. Economists had expected consumer prices to inch up by 0.1 percent.
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Thailand Leaves Policy Rate Steady At 2.50%
Thailand's central bank decided to keep the interest rate unchanged for the fourth straight meeting on Wednesday as the inflation rate returned to the target range, despite the rising pressure from the government to cut rates to support economic growth.
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