Gold (XAU/USD) Price Forecast: Wedge Breakout Suggests Further Downside
Gold is consolidating near the 20-day moving average after a rising wedge breakout, testing critical support levels while a sharp correction hints at further potential downside.
Fed's Bowman Says Balance Sheet Can Be Reduced Using Liquidity Rules
Federal Reserve Governor Bowman stated that the central bank can shrink its balance sheet through the application of liquidity regulations. This approach provides an alternative method to manage monetary policy and balance sheet size effectively.
Silver (XAG) Forecast: Rising Oil Prices Cloud the Near-Term Silver Outlook
Silver prices edge higher but stay rangebound as oil above $90 fuels inflation fears, weak jobs data rattles markets, and traders question Fed rate cuts.
Fed’s Hammack Says Economy Is Stable Amid Uncertain Impact of Rising Oil Prices
Federal Reserve official Hammack states the economy is in a reasonably good place but notes it is too soon to determine the full impact of rising oil prices. Higher oil costs may increase inflation while potentially reducing consumer spending.
Fed’s Hammack Highlights Need to Discuss Balance Sheet Shrinkage and Reserve Regimes
Federal Reserve official Hammack emphasized the importance of discussing the reduction of the Fed’s balance sheet and whether the economy is better served by ample or scarce reserve regimes. He also noted that companies remain proactive amid uncertainty, focusing on hiring to meet demand.
Fed's Hammack Calls February Jobs Report Disappointing, Signals Cautious Monetary Policy
Federal Reserve's Hammack expressed disappointment with the February jobs report but noted overall economic improvement and labor market stabilization. He emphasized that inflation remains above target with little progress, suggesting that interest rates should stay around neutral for an extended period to curb inflation, while also considering discussions on shrinking the Fed's balance sheet.
US Customs Developing System to Refund Tariffs
US Customs is currently working on implementing a new system aimed at refunding tariffs. This initiative could impact importers and trade processes by facilitating tariff reimbursements.
Saudi Arabia Strengthens Direct Communication with Iran to Avert War
Saudi Arabia has intensified its direct communication channels with Iran in an effort to defuse escalating tensions and prevent the outbreak of war. This diplomatic move aims to stabilize regional security and promote dialogue between the two nations.
Key Republican Urges Swift Confirmation of Warsh for Federal Reserve
A prominent Republican leader has called for the rapid confirmation of Warsh to the Federal Reserve. The move aims to ensure timely leadership at the central bank amid ongoing economic challenges.
Fed’s Hammack Highlights Broader Inflation Issues and Dollar’s Strong Global Role
Federal Reserve’s Hammack stated that inflation challenges extend beyond tariffs, indicating a more complex economic situation. He also emphasized that it would take significant factors to diminish the US dollar’s dominant position in the global market.