Global Markets Brace for Fed's Rate Cut Decision
Global markets kept a close watch on the U.S. Federal Reserve's imminent decision to cut interest rates. The dollar weakened, the euro surged, and gold reached new peaks as markets speculated on the Fed's future monetary policies. Oil prices remained firm amid geopolitical tensions in Ukraine.
The dollar found itself subdued as stocks took a hit and gold reached unprecedented levels. This market move is part of an anticipatory wait for the Federal Reserve's expected rate cut announcement on Wednesday.
The euro strengthened significantly against the dollar, influenced by expectations of further monetary easing by the Fed. In contrast, oil prices stayed robust after Ukraine launched drone attacks on Russian facilities, potentially influencing future global supply.
The Federal Reserve is widely anticipated to slash its primary interest rate by a quarter-point. Eyes are also on Fed Chair Jerome Powell, whose remarks could give investors clues about the nation's monetary future.
Advertisement
Google News