The greenback soared to a two-decade high last September, driven by the Fed’s aggressive pace of interest hikes. But then came recession fears, the collapse of three regional banks and worries about congressional infighting and US spending. Now, as inflation continues to cool, the Federal Reserve appears to be nearing the end of its rate-hiking cycle.
While Japan hinted Friday it could gradually begin to raise rates, sending the yen up against the dollar, the European Central Bank said Thursday it could pause at its next meeting in September. “It’s not like the Fed is going to be cutting rates when the other central banks are raising rates. That’s fairly unlikely,” said Shah. Gold could also benefit. Gold prices have risen over 6% this year, supported by sliding Treasury yields and a decline in the dollar.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why oil prices are on their strongest run since before Russia invaded Ukraine | CNN BusinessGlobal oil prices have gained more than 16% since late June and are heading for their fifth-straight week of gains, the longest rally since before Russia’s full-scale invasion of Ukraine upended energy markets.
Source: CNN - 🏆 4. / 95 Read more »
Shell profits cut in half by lower oil prices | CNN BusinessShell has reported a 56% drop in second-quarter profit, as oil and gas prices fell from record highs reached following Russia’s full-scale invasion of Ukraine 17 months ago.
Source: cnni - 🏆 326. / 59 Read more »
Shell and TotalEnergies profits cut in half by lower oil prices | CNN BusinessShell and TotalEnergies have reported a steep drop in second-quarter profit, as oil and gas prices fell from record highs reached following Russia’s full-scale invasion of Ukraine 17 months ago.
Source: CNN - 🏆 4. / 95 Read more »
The US economy grew stronger than expected in the second quarter | CNN BusinessThe US economy's growth was stronger than expected in the second quarter. GDP, the broadest measure of economic output, grew by a 2.4% rate
Source: CNN - 🏆 4. / 95 Read more »