US Federal Reserve could cut rate three times

Source: Dukascopy Bank SA


The United States Federal Reserve has just announced its Federal Funds Rate. Markets expected the Fed to keep the base interest rate unchanged at 5.50%. The Fed has done exactly that.

However, the US Dollar declined on the announcement, as the market participants must have seen this as a relief from possible rate hike. Namely, inflation has shown to be persistent in the US and a rate hike was a possibility.

After the event, the Chairman of the Federal Reserve Jerome Powell revealed at the follow up press conference that not one but three rate cuts are possible in 2024. These news caused a drop of the Dollar that continued overnight. The Dollar index reached a slow as 102.90, where it found support.
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Thu, 21 Mar 2024 08:55:54 GMT

Swiss National Bank cuts rate

Unexpectedly to the financial markets the Swiss National Bank has just cut its base interest rate from 1.75% to 1.50%. The Swiss Franc is losing value due to the news. USD/CHF currency pair jumped 103 base points or 1.16% over the span of five minutes after the news were announced.

Wed, 20 Mar 2024 14:57:02 GMT

Inflation slows down in Canada

The Consumer Price Index of Canada has revealed that prices have grown in 2.8% in February, compared to February of 2023. The markets expected a 3.1% increase. On a month on month basis prices have risen 0.3% instead of forecast 0.6% The news caused a surge of the USD/CAD, as the value of the Canadian Dollar declined due to algorithmic

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