EUR/USD
1.16632
-0.027%
Gold
4593.84
-0.075%
Oil
59.798
0.255%
USD/JPY
158.957
0.506%
GBP/USD
1.34690
0.027%
GBP/JPY
214.105
0.540%
Real-time News
January 13th - According to a source familiar with the matter, global central bank officials are working to issue a statement in support of Fed Chairman Jerome Powell following the Trump administrations significant escalation of pressure on the Federal Reserve. The joint statement is expected to be released under the name of the Bank for International Settlements and is open for signature by all central banks. The source also indicated that due to time zone differences, central bank governors will need time to refine their wording, so the statement could be released as early as Tuesday.Frances November government budget was -€155.407 billion, compared to -€136.2 billion in the previous month.Central banks around the world are drafting a statement to express their support for Federal Reserve Chairman Jerome Powell. The joint statement is expected to be released under the name of the Bank for International Settlements (BIS).The onshore yuan closed at 6.9765 against the US dollar at 16:30 on January 13, down 23 points from the previous trading day.On January 13th, Matt Weller, Head of Market Research at Forex.com, stated that he expects both the overall and core CPI in the US to rise by 2.7% year-on-year in December. Overall, the process of inflation falling back towards the 2% target has stalled for over a year, with the overall CPI year-on-year increase consistently hovering between 2.3% and 3%, while the core CPI has also remained in the mid-to-high range of 2.5% to 2.9%. Despite inflation continuing to exceed the target level, the Federal Reserves concerns about the job market are still considered a more pressing issue, and the market expects the federal funds rate to be further lowered this year. However, the implied probability of the Fed cutting rates again at its March meeting is only about 25%, and the market is confident that the Fed will keep rates unchanged this month. The news that the US Department of Justice subpoenaed Powell this weekend adds additional risk to the Feds independence. While this is a low-probability event, it increases the likelihood of Trump replacing the Fed chairman earlier than planned. If this happens (although the probability remains low), regardless of current inflation data, we may see more aggressive rate cuts.
