Gold Hits $2,013 and Sets a 6-Month High as the US Dollar Retreats
Gold rose to a 6-month high on Monday after recent upbeat economic data weakened the US dollar.
BTC$62,686.00-1.67%
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USDT$0.9987-0.01%
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SOL$69.40-3.23%
TRX$0.329-1.01%
FIGR_HELOC$1.03-0.16%
HYPE$61.30-7.24%
DOGE$0.0789-3.56%
USDS$0.9997+0.00%
RAIN$0.0157-2.06%
LEO$9.49-0.84%
ZEC$413.84-6.89%
XLM$0.1911-3.05%
BTC$62,686.00-1.67%
ETH$1,666.62-3.16%
USDT$0.9987-0.01%
USDC$0.9996-0.01%
XRP$1.10-1.88%
SOL$69.40-3.23%
TRX$0.329-1.01%
FIGR_HELOC$1.03-0.16%
HYPE$61.30-7.24%
DOGE$0.0789-3.56%
USDS$0.9997+0.00%
RAIN$0.0157-2.06%
LEO$9.49-0.84%
ZEC$413.84-6.89%
XLM$0.1911-3.05%
Federal Reserve Chair Jerome Powell signaled a major shift towards cutting interest rates during his speech at the Jackson Hole Economic Symposium.
Gold rose to a 6-month high on Monday after recent upbeat economic data weakened the US dollar.
New Fed minutes data is expected to include a "superficially hawkish rhetoric" that rate-hiking cycle may not be over. However, that's not what investors actually think.
The odds of skipping a rate hike in September currently sit at 88.5%, per fed funds futures data.
The Fed is set to meet on June 14 and decide its next policy move.
Fed’s Jerome Powell stated on Friday that there is now some breathing room but warned that June’s decision on rate increases is still unclear.
At the May FOMC meeting, the FED decided to again raise interest rates by 25 BPS.
A group of Democratic lawmakers have called on the Fed to halt rate hikes to avoid risking too much damage to the economy.
After probably the most nervously-watched meeting in months, the FOMC announced it is again raising interest rates by 25 basis points.
The US dollar index recorded its first weekly loss since January.
PCE Price Index and Core PCE Price Index rose by 0.6% month-over-month in January, refueling worries over further rate hikes.
In a busy day for legislators and regulators, the White House, the FED, and the SEC all had separate publications pertaining to cryptocurrencies in some way.
The hiring surge by small businesses could force the Fed to continue raising rates.