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Fed's Powell Says Policymakers Need More Evidence Before Rate Cut

2024-06-28 1826

(fxcue news) - Recent inflation data does suggest a disinflationary trend in the U.S. economy, but more evidence is needed before policymakers can cut interest rates, Federal Reserve Chair Jerome Powell said Tuesday. "We just want to understand that the levels that we're seeing are a true reading of underlying inflation," Powell said in a speech at a European Central Bank-sponsored central banking forum in Sintra, Portugal. The annual rate of increase of Fed's preferred measure of inflation, the core PCE, slowed to 2.6 percent from 2.8 percent in May, official figures showed last week. In June, the Fed left interest rates unchanged and projected just one rate cut for the rest of the year.

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Fed's Powell Says Policymakers Need More Evidence Before Rate Cut

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U.S. Private Sector Employment Climbs Less Than Expected In June

U.S. Trade Deficit Widens Less Than Expected In May

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U.S. Weekly Jobless Claims Rise Slightly More Than Expected

Fed's Powell Says Policymakers Need More Evidence Before Rate Cut

European Stocks Close Lower On Interest Rate Uncertainty

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Trader

Gold trading: 2615 short selling, loss 2624, take profit 2593

Gold short selling stop loss...

Today's gold trading strategy 1: Buy long until it falls back to around 2589, lose 2582, look short around 2615, target 2620-25; Strategy 2: Short sell when the rebound reaches around 2625, with a loss of 2633. Short look around 2590, with a target of 2560.

Sell near spot gold 2604, protect 2614, target 2582-2570; Break through holding;

Gold bought more at 2590 in the morning session of the Asian market today, 2585, with a target of 2610.

Short term focus on the resistance line of 70.5-71.0 above crude oil, and short-term focus on the support line of 68.0-67.5 below.

Today's short-term operations in gold are mainly focused on rebound short selling, supplemented by buy long during pullbacks. The short-term focus above is on the resistance line of 2605-2610, while the short-term focus below is on the support line of 2575-2570.

Today, I made two gold trades and achieved a perfect profit

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Fed's Powell Says Policymakers Need More Evidence Before Rate Cut

Indonesia Stock Market Tipped To Open In The Green

Sensex

U.S. Private Sector Employment Climbs Less Than Expected In June

U.S. Trade Deficit Widens Less Than Expected In May

Quest Diagnostics To Acquire LifeLabs From OMERS In About $985 Mln Deal

U.S. Weekly Jobless Claims Rise Slightly More Than Expected

Fed's Powell Says Policymakers Need More Evidence Before Rate Cut

European Stocks Close Lower On Interest Rate Uncertainty

Please sign in

Trader

Gold trading: 2615 short selling, loss 2624, take profit 2593

Gold short selling stop loss...

Today's gold trading strategy 1: Buy long until it falls back to around 2589, lose 2582, look short around 2615, target 2620-25; Strategy 2: Short sell when the rebound reaches around 2625, with a loss of 2633. Short look around 2590, with a target of 2560.

Sell near spot gold 2604, protect 2614, target 2582-2570; Break through holding;

Gold bought more at 2590 in the morning session of the Asian market today, 2585, with a target of 2610.

Short term focus on the resistance line of 70.5-71.0 above crude oil, and short-term focus on the support line of 68.0-67.5 below.

Today's short-term operations in gold are mainly focused on rebound short selling, supplemented by buy long during pullbacks. The short-term focus above is on the resistance line of 2605-2610, while the short-term focus below is on the support line of 2575-2570.

Today, I made two gold trades and achieved a perfect profit

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