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

2024-06-28 1816

(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

Indonesia Stock Market Tipped To Open In The Green

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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

The price of gold remains strong, and we broke even today.

Buy spot gold at 2665, take profit at 2673.

Today, the profit from gold trading has been obtained, and we will continue to buy at a low level.

Gold operation strategy: sell in the 2663-2669 area, add position and sell in the 2675 area, manual stop loss, target 2614-2600-2584;

Profit and loss taking in gold trading

The gold trading recommendation is to sell at 2658/2660, take a look at 26482640, and buy with 2640 support below.

In the morning session of the Asian market, both EURUSD and GBPUSD traded with stop loss, while XAUUSD made a profit

Today's gold trading advice: Sell near 2641-43, stop loss 2650, target 2623-12. Buy near 2614-16, stop loss 2606, target 2624-35.

Before the gold price touched above 2660, it was bought based on a pullback around 2625. If gold doesn't go back and goes up directly, then wait until 2660-2680 to sell.

Today's crude oil operation adopts a high sell low buy strategy, with a focus on resistance at $70.2-71.2 above and support at $68.4-67.5 below.

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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

The price of gold remains strong, and we broke even today.

Buy spot gold at 2665, take profit at 2673.

Today, the profit from gold trading has been obtained, and we will continue to buy at a low level.

Gold operation strategy: sell in the 2663-2669 area, add position and sell in the 2675 area, manual stop loss, target 2614-2600-2584;

Profit and loss taking in gold trading

The gold trading recommendation is to sell at 2658/2660, take a look at 26482640, and buy with 2640 support below.

In the morning session of the Asian market, both EURUSD and GBPUSD traded with stop loss, while XAUUSD made a profit

Today's gold trading advice: Sell near 2641-43, stop loss 2650, target 2623-12. Buy near 2614-16, stop loss 2606, target 2624-35.

Before the gold price touched above 2660, it was bought based on a pullback around 2625. If gold doesn't go back and goes up directly, then wait until 2660-2680 to sell.

Today's crude oil operation adopts a high sell low buy strategy, with a focus on resistance at $70.2-71.2 above and support at $68.4-67.5 below.

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