CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money 
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money 

Fed's Goolsbee is dovish at the Central Banking Forum in Portugal 📌

1:44 pm 2 July 2024

  • Federal Reserve Bank of Chicago President Austan Goolsbee advocates for cutting interest rates if US inflation continues to decline towards the 2% target, as maintaining current rates would tighten monetary policy.

  • Goolsbee believes that the US is on a path to 2% inflation, and his comments follow recent data showing the slowest increase in the Fed's preferred gauge of underlying inflation in six months.

  • He emphasized that decisions to tighten or loosen monetary policy should be made intentionally, not by default, and warned of potential warning signs in the job market.

  • Fed officials have held rates steady at a more than two-decade high since last July, waiting for more evidence that inflation is on track towards their 2% goal before considering lowering borrowing costs.

 

Federal Reserve Bank of Chicago President Austan Goolsbee suggested that Fed officials should consider lowering interest rates in the US if inflation continues to move towards the 2% target. Goolsbee's speech was relatively dovish, and he did not shy away from evaluating the current monetary policy. This is particularly interesting because today at 3:30 PM, Fed Chairman Jerome Powell will be speaking at the same conference in a panel alongside ECB President Christine Lagarde. Goolsbee expressed satisfaction with recent inflation data and highlighted the labor market in the context of potential warning signs of an economic slowdown.

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EURUSD (D1)

The EURUSD rate is down 0.25% today to 1.07100. This is mainly due to a strong USD, while the EUR remains relatively stable after inflation data from the Eurozone. The rate is approaching a key support zone around the 1.0700 level.

Source: xStation 5

 

The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.

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