Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Economic Indicator

Fed's Goolsbee: European rate cuts could bolster the US Dollar

Source Fxstreet

Jun 14, 2024 19:09

Austan Goolsbee, President of the Federal Reserve (Fed) Bank of Chicago cautioned that he still wants to see further progress on inflation, but sees the possibility of worsening conditions in manufacturing and argiculture. Chicago Fed head Goolsbee was speaking at the Iowa Farm Bureau Economic Summit Ankeny, Iowa.

Key highlights

Manufacturing and agriculture feel closer to the edge of a downturn.

If we keep making progress on inflation, and the rates can come down, we may avoid recession.

As European countries cut rates, that could push up the dollar.

A stronger dollar would affect the export-import balance, and affect US employment and inflation.

If inflation ahead behaves as it did in the first quarter, we would have a hard time cutting rates.

The unemployment rate, quit rate, and the ratio of jobs to opening, looks like the labor market is cooling.

I don't take too much signal from the monthly payrolls data by itself.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Will Gold Continue to Fall After Breaking the $1900 Level? Gold are expected to experience a slight decline in the short term.

Author Mitrade

Gold are expected to experience a slight decline in the short term.

US Economic Beige Book: Moderate Economic Growth, Will Gold Fall Further?The Economic Beige Book once again caused a dip in gold prices.

Author Mitrade

The Economic Beige Book once again caused a dip in gold prices.

ECB: Finally at the interest rate peak? – Commerzbank In view of the weak economy and the downward trend in the inflation rate, the ECB is unlikely to raise its key interest rates further next week, and interest rates are also likely to remain unchanged at subsequent meetings.

Author FXStreet

In view of the weak economy and the downward trend in the inflation rate, the ECB is unlikely to raise its key interest rates further next week, and interest rates are also likely to remain unchanged at subsequent meetings.

US Stocks Start September's First Week on a Poor Note: What Can We Expect for the Future?Last week (9/4-9/8), global stock markets mostly experienced a decline. In the US, the S&P 500 index fell by 1.29%, the Dow Jones Industrial Average dropped by 0.75%, and the Nasdaq 100 index declined by 1.36%. As for European stocks, the STOXX 600 index decreased by 0.76%.

Author Mitrade

Last week (9/4-9/8), global stock markets mostly experienced a decline. In the US, the S&P 500 index fell by 1.29%, the Dow Jones Industrial Average dropped by 0.75%, and the Nasdaq 100 index declined by 1.36%. As for European stocks, the STOXX 600 index decreased by 0.76%.

"Verbal Intervention" Escalates! Is the Bank of Japan about to turn hawkish?Last week (9/4-9/8), the US Dollar Index rose by 0.82%, while most non-US currencies experienced a decline. Specifically, the Euro depreciated by 0.7% against the US dollar, and the Japanese Yen weakened by approximately 1.1%.

Author Mitrade

Last week (9/4-9/8), the US Dollar Index rose by 0.82%, while most non-US currencies experienced a decline. Specifically, the Euro depreciated by 0.7% against the US dollar, and the Japanese Yen weakened by approximately 1.1%.

Popular Symbols