Rate Cut Financial News

By Bansari Mayur Kamdar and Shashwat Chauhan

Investing.com-- Most Asian currencies rose sharply on Thursday, while the dollar tumbled from two-week highs after comments from the Federal Reserve kept expectations of interest rate cuts largely in play. 

Also Read: Gold rate today hits new peak of ₹66,778 after US Fed meeting. Should you buy in current gold price rally? The Federal Reserve is presently holding interest rates at their highest level in more than twenty years, with the aim of gradually restoring inflation to the targeted 2% rate over the long haul.

Investing.com-- Gold prices hit a record high in Asian trade on Thursday, tracking a sharp drop in the dollar after the Federal Reserve kept interest rates steady and signaled that it was still considering rate cuts this year. 

Investing.com-- Most Asian stocks rallied on Thursday, with Japan’s Nikkei 225 hitting a record high after the Federal Reserve kept interest rates steady and said it was still considering at least three rate cuts in 2024.

Investing.com-- Oil prices rose in Asian trade on Thursday, benefiting from a weaker dollar as the Federal Reserve flagged three interest rate cuts in 2024, while the prospect of tighter supplies continued to buoy crude. 

Investing.com-- U.S. stock index futures rose in evening trade on Wednesday, extending a record-high run on Wall Street after the Federal Reserve kept rates steady and stuck to its forecasts of at least three rate cuts this year. 

Federal Reserve members still see three interest rate cuts in 2024 despite an improving outlook for economic growth.

It was an implied volatility day yesterday ahead of the VIX expiration this morning. The important level for the VIX is 14, and as of yesterday, the VIX closed at 13.8.

Canada’s inflation rate slowed in February, putting a potential Bank of Canada interest rate cut on the table for the summer.

By Chuck Mikolajczak

interest rate cut in June took a hit after data over the week showed bubbling price pressures. Spot gold was little changed at $2,163.10 per ounce, as of 10:17 a.m. EDT (1417 GMT). Bullion was headed for a weekly drop of 0.6%, its first since mid-February after hitting a record high of $2,194.99 last week.

cryptocurrency by value. Meanwhile, Ethereum, the second largest crypto token, also plunged over 7% to $3,685. The global cryptocurrency market cap declined 6.15% to around $2.6 trillion in the last 24 hours.

European Central Bank will lower borrowing costs in the spring, with June more likely than April for a first move, Bank of France Governor Francois Villeroy de Galhau said. “We will probably cut rates in spring, and spring in Europe is from April to June 21," Villeroy said on France Info radio.

Frothy U.S. Stock Market Just Isn’t Crazy Enough to Be a Bubble Conversely, the Indian stock market suffered strong losses the following day, with Sensex and Nifty 50 falling over a per cent each and the overall market capitalisation of BSE-listed firms plunging by as much as about ₹13.5 lakh crore in a single session. Also Read: Sensex, Nifty 50 fall over 1% each; why did the Indian stock market fall today? The domestic market appeared concerned that a delay in rate cuts could deter foreign capital inflows into it.

According to data from the US Bureau of Labor Statistics, US CPI rose to 3.2% in February, surpassing expectations for it to remain unchanged from January's figure of 3.1%. Shelter and gasoline were the most significant contributors, responsible for over 60% of the monthly increase in the index for all items. Hotter than expected US inflation tempers Fed rate cut expectations Nathaniel Casey, investment strategist at Evelyn Partners, said that although the figure was «warmer than expected», it is unlikely to prevent the Fed from cutting rates later in the year. Quilter Investors...

Bitcoin price is anticipated to climb, now trading close to $72,000, showing a remarkable increase.

While February's data beat the forecast 200,000, the «higher than expected» January figure, which was initially reported as 353,000, has now been revised down to 229,000, while December's 333,000 was reduced to 290,000, based on additional reports received from businesses and government agencies. US far exceeds forecasts with 353,000 jobs added in January Additionally, the unemployment rate rose by 0.2 percentage points to 3.9% in February, as the number of unemployed people increased by 334,000 to 6.5 million. Nathaniel Casey, investment strategist at Evelyn Partners, said today's...

Gold prices rose on Monday, and hovered near a record peak hit in the previous session, as remarks from Federal Reserve Chair Jerome Powell and U.S. economic data last week cemented hopes for a rate cut in June. FUNDAMENTALS

gold extended its stunning rally to the eighth day on Friday as the US nonfarm payroll report of February was weaker than expected. The metal rose to a fresh record high as it hit $2195 before closing with a gain of 0.89% at $2179. It posted a whooping weekly gain of 4.60%. The US employers added 275K jobs in February, which was above the forecast of 200K jobs; however, the unemployment rate rose to a two-year high of 3.90% from 3.70% in January and was way above the forecast of 3.70%. Moreover, the previous two-month figures were revised lower by 167K jobs and government hirings accounted for 52K jobs, which took the sheen off the headline number. Average hourly earnings m-o-m came in at 0.10% versus the forecast of 0.20%, while y-o-y earnings at 4.30% met the forecast though it was lower than the prior data of 4.40%. Labour force participation at 62.50% was lower than the estimate of 62.60%.

Gold rate today: The record run in gold prices continued throughout this week as expectations of the US Fed rate cut gained momentum after Jerome Powell's testimony before the US Congress. Spot gold price settled at a record high on Friday after briefly topping the $2,200 mark.