Fed Forecast for July Month: Gold remains on track to post weekly losses. Next week, FOMC Chairman Jerome Powell will testify before Senate on Wednesday. If Powell suggests a 50 basis points (bps) rate hike in July, the yellow metal could gain traction, FXStreet’s Eren Sengezer reports.
Interest Rate
US Federal Reserve Warns Coronavirus “Poses Considerable Risks”
The Federal Reserve said Wednesday the coronavirus pandemic already has caused “tremendous” health and economic hardship, and warned the damage to the US economy will continue along with high unemployment.
Fed Again Cuts Interest Rates as Economic Growth Slows, Powell Says Policy in Good Place
Fed Again Cuts Interest Rates 0.25 percentage points, which was widely expected, brings the Fed’s target rate to a range of 1.5% to 1.75%. Less clear is where central bankers go from here amid signs the economy is slowing down.
Fed Holds Interest Rates Steady but Opens Door to a Cut – Gold Silver Reports
Federal Reserve officials left interest rates unchanged at their June meeting but opened the door to a cut if President Trump’s trade fight intensified and risks to the American economy increased.
Reserve Bank of India (RBI) is Expected to Deliver a 25 bp Rate Cut Amid india’s benign inflation, aim to stimulate nation’s economic growth: ScotiaBank
The Reserve Bank of India (RBI) is expected to deliver a 25 bp rate cut amid India’s benign inflation on Thursday afternoon, with the aim of stimulating the nation’s economic growth that slowed to 5.8% yoy in the January-March quarter from 6.6% the previous three months. Lower crude oil prices also boosted the prospects of a cut in interest rates, according to the latest research report from Scotiabank.
Fed Keeps Interest Rates Unchanged; Signals No More Increases Likely This Year
The Federal Reserve expressed increasing concern about slowing economic growth as it left interest rates unchanged on Wednesday and showed little appetite for raising them in the near future.
Fed Hikes Rate, Lowers 2019 Projection to 2 Increases
Gold Silve Reports (GSR) – As markets had expected, the central bank took the target range for its benchmark funds rate to 2.25 percent to 2.5 percent.