US EditionDollar Sinks to Four-Year Low vs Euro Ahead of Fed Rate Decision
Gold prices reached a new high above $3,700 per ounce due to Federal Reserve rate cut expectations and a weakening US dollar, with gold-backed ETFs seeing $5.5 billion inflows in August.
20 Articles
20 Articles
Markets are reacting mixedly to the Fed's interest rate cut and the announcement of two more this year. The dollar is losing ground rapidly, however. The Dow Jones Industrial Average briefly gained 400 points but quickly fell back. The dollar's value fell sharply. Investors in Amsterdam had taken it easy earlier in the day in the lead-up to the Federal Reserve's interest rate decision. The AEX closed 0.4 percent higher at 914.81 points.
Global Markets Brace for Fed's Rate Cut Decision
Global Markets Brace for Fed's Rate Cut Decision The dollar found itself subdued as stocks took a hit and gold reached unprecedented levels. This market move is part of an anticipatory wait for the Federal Reserve's expected rate cut announcement on Wednesday.The euro strengthened significantly against the dollar, influenced by expectations of further monetary easing by the Fed. In contrast, oil prices stayed robust after Ukraine launched drone …
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- 38% of the sources are Center, 38% of the sources lean Right
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