Interest rates in the EU and the US look set to be cut in June, Nasdaq slides on Nvidia sell-off, Gold continues to print fresh highs.
In his testimony to the Senate Banking Committee on Thursday, Fed Chair Jerome Powell indicated that interest rates could soon be on the way down. ‘If the economy does as expected, we think carefully removing the restrictive stance of policy will begin over the course of the year’, Powell said Thursday.
Friday’s latest US Jobs Report also showed the closely watched unemployment rate rise unexpectedly from 3.7% to 3.9%, while average earnings slowed further.Also Thursday, post-policy decision commentary from ECB’s Lagarde also pointed to the end of H1 as an appropriate time to start cutting borrowing costs.target and we are more confident as a result…But we are not sufficiently confident. We need clearly more evidence and more data.
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