Fed maintains interest rates as Powell’s term nears its end: April FOMC
Federal Reserve Keeps Interest Rates Steady Jerome Powell is set to hold what could be his final press conference as the chair of the Federal Reserve next month. On Wednesday, the central bank decided to maintain its interest rates amid growing concerns that inflation could escalate due to ongoing conflicts in the Middle East. The […]
EUR/USD stays close to 1.1670 as the Fed maintains current interest rates
The EUR/USD pair is currently trading negatively, remaining flat after the Federal Reserve opted to keep interest rates unchanged in their latest meeting. As of now, the pair is around 1.1670, down about 0.48%, with many traders focusing on Chairman Powell’s upcoming press conference. Fed Monetary Policy Statement In its monetary policy statement, the Fed […]
Fed chief candidate Kevin Warsh passes important Senate milestone, likely to take over for Jerome Powell
Kevin Warsh, nominated by President Trump to lead the Federal Reserve, has passed a significant procedural step, positioning him to potentially replace Jerome Powell soon amid an unusual bid by the White House to exert control over the central bank. The Senate Banking Committee approved Warsh’s nomination along party lines, with all 13 Republican members […]
Powell encounters a standoff with Trump as his time as Fed chair approaches its conclusion
Federal Reserve Chairman Jerome Powell Prepares for Last Conference Jerome Powell, the Chairman of the Federal Reserve, is set to conduct what may be his final press conference in his current role this Wednesday. However, his upcoming departure next month does not necessarily mean he will leave the Federal Reserve altogether—this could lead to a […]
USD/CAD remains steady under 1.3700 ahead of Fed and BoC rate announcements
The US dollar (USD) remained largely unchanged against the Canadian dollar (CAD) on Wednesday. Trading has hovered below the 1.3700 mark after a rebound from mid-week lows beneath 1.3600. Investors seem to be waiting for the forthcoming decisions from the Bank of Canada (BoC) and the US Federal Reserve (Fed), which are set to be […]
Senate Banking Committee will vote Wednesday on Trump’s choice for the Fed, Warsh.
Senate Banking Committee to Vote on Fed Chair Nominee Kevin Warsh The Senate Banking Committee is set to vote on Wednesday regarding President Donald Trump’s nominee, Kevin Warsh, to lead the Federal Reserve. This vote will be a significant indication of the extent of the White House’s influence over the central bank. If Warsh gets […]
Forex Today: No indications of a US-Iran agreement, upcoming Fed rate decision
Here’s what’s happening on Wednesday, April 29th. Major currency pairs are showing usual mid-week volatility as traders prepare for significant central bank announcements. Today’s European Economic Calendar features Germany’s consumer price index (CPI) data for April, along with insights on economic conditions and consumer sentiment within the euro area. Additionally, the Bank of Canada (BoC) […]
Bitcoin climbs to $77,000 before Fed decision as Trump readies for extended Hormuz block
Bitcoin’s Standstill Amidst Market Movements Bitcoin seems to be standing still while the rest of the market continues to shift around it. As of Wednesday during Asian trading, the largest cryptocurrency was hovering just below $77,000, showing only a slight increase of 0.1% over the past 24 hours but down 0.8% for the week. This […]
EUR/USD drops close to 1.1700 before Fed interest rate decision
EUR/USD Outlook Amid Middle East Tensions The EUR/USD is currently trading lower, around 1.1715, as Asian markets open on Wednesday. The ongoing uncertainty regarding a potential ceasefire in the Middle East is bolstering the U.S. dollar as a safe-haven currency against the euro. Investors are keenly awaiting the U.S. Federal Reserve’s interest rate decision later […]
Fed likely to maintain rates as Powell approaches what may be his final news conference
Federal Reserve Chair’s Upcoming Press Conference Steve Forbes, Chairman and Editor-in-Chief of Forbes Media, noted the Justice Department’s recent decision to cease its investigation into Federal Reserve Chairman Jerome Powell during a segment on “The Bottom Line.” The announcement about interest rates is anticipated when Powell addresses the press on Wednesday, ahead of his term’s […]