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Fed's Kashkari warns that tariffs are pushing up goods prices
Federal Reserve (Fed) Bank of Minneapolis President Neel Kashkari flashed another policy warning sign on Wednesday, cautioning that tariffs are pushing the consumer-facing costs of goods higher, resulting in climbing inflation figures.
Fed Governor Prospect Stephen Miran promises to uphold Fed independence if confirmed
Stephen Miran, United States (US) Council of Economic Advisors (CEA) member and US President Donald Trump's pick to fill a recently-vacated seat on the Federal Reserve's (Fed) Board of Governors, swore that he would uphold the Fed's political independence if he were to be confirmed by Congress.
UK Chancellor Reeves waves off £50 billion budget deficit forecast
United Kingdom (UK) Chancellor of the Exchequer Rachel Reeves dismissed concerns from Britain's National Institute of Economic and Social Research (NIESR) that the UK government may need to dip into International Monetary Fund (IMF) funding pools in the future if Parliament can't sort out its budge
EUR/USD rebounds to 1.1680 as weak US data fuels Fed cut bets
The EUR/USD recovers ground following Tuesday's losses that drove the pair below key support levels around the 50 and 20-day SMAs. A confirmation of weakness in the US labor market by JOLTS data, increased the chances of a rate cut by the Federal Reserve. The pair trades at 1.1679, up 0.37%.
GBP/USD rises to 1.3440 as strong UK data offsets US weakness
The GBP/USD advances during the North American session up by 0.39% following the release of economic data from the United States (US). Also, fears of the UK's government being unable to meet its fiscal requirements eased on signs that the economy continued to fare well.
Gold extends rally, notches new record-high above $3,560
Gold extended its uptrend in the second half of the day on Wednesday and touched a new record-high above $3,560. At the time of press, XAU/USD was trading near $3,560, rising 0.85% on a daily basis. For the week, Gold is already up more than 3%.
Fed's Bostic: Inflation is still the main concern
Atlanta Fed President Raphael Bostic said that high inflation remained the Federal Reserve's main risk, but added that signs of labour market weakness still pointed to a single quarter-point rate cut this year.
BoE's Bailey: Doubts grow on how fast rates can be cut
Speaking before the Treasury Select Committee, Bank of England Governor Andrew Bailey warned that while the direction for interest rates remains downward, there is "considerably more doubt" over how quickly cuts can be delivered.
BoE's Taylor: We're getting closer to the soft landing
In his annual report to the Treasury Select Committee, Bank of England policymaker Alan Taylor said the British economy was edging closer to a "soft landing." He added that policy would have to be judged carefully over the coming months, since the outlook remained fragile.
BoE's Greene: Some signs that disinflationary process is slowing
Bank of England (BoE) policymaker Megan Greene said on Wednesday that she voted to keep the bank rate on hold at the last policy meeting, citing higher risk of inflation persistence and lower risk of weak demand.
Fed's Musalem: There is risk tariffs could cause persistent inflation rise
St. Louis Federal Reserve President Alberto Musalem said on Wednesday that he sees a risk that tariffs could cause a persistent increase in inflation, per Reuters.
Fed's Waller: We should cut at next meeting
In an interview with CNBC on Wednesday, Federal Reserve (Fed) Governor Christopher Waller repeated that they should cut the interest rate at the next policy meeting.
Silver Price Forecast: A near-term correction in the offing?
Prices of Silver advance for the fourth day in a row on Wednesday, trading at shouting distance from the key barrier at $41.00 per ounce.
Gold Price Forecast: XAU/USD extends winning streak for seventh trading day
Gold price (XAU/USD) extends its winning streak for the seventh trading day on Wednesday. The precious metal posts a fresh all-time high near $3,550 as investors have dumped long-dated government bonds across the globe.
EUR/GBP Price Forecast: The pair finds resistance above 0.8700
The Euro rally against the British Pound has been unable to confirm above the 0.8700 level, and the pair retreated during the European session on Wednesday, turning negative on the daily charts and reaching a low of 0.8685 at the time of writing.The upward revision of August's UK Services PMI has pr
GBP faces pressure ahead of UK budget - Rabobank
The UK is clearly not the only country facing a difficult fiscal prognosis but, since it also runs a sizeable current account deficit, there is potential for the exchange rate to be particularly sensitive to bad fundamental news, Rabobank's FX analyst Jane Foley reports.
JPY soft and underperforming G10 - Scotiabank
The Japanese Yen (JPY) is down a marginal 0.1% against the US Dollar (USD) and once again underperforming all of the G10 currencies--albeit this time in quiet trade, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
GBP steady and consolidating Tuesday's losses - Scotiabank
The Pound Sterling (GBP) is also up a marginal 0.1% against the US Dollar (USD) as it attempts to consolidate Monday's losses, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
EUR: markets shift focus back to policy and Fed/ECB - Scotiabank
The Euro (EUR) is up a marginal 0.1% against the US Dollar (USD) and a mid-performer among the G10 as it consolidates in a tight range in the mid/lower-1.16s, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
CAD underperforms as spreads widen, crude softens - Scotiabank
The Canadian Dollar (CAD) is a mild underperformer on the session. Factors have shifted a little against the CAD so far this week, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
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