Markets Rally on Hints of Earlier Rate Cuts from Fed and ECB
• Markets react to Fed Chair Powell's comments suggesting interest rates may not stay high for long • Powell's tone signals Fed openness to earlier rate cuts than expected • Falling energy prices also factoring into possibility of faster rate de-escalation • ECB President Lagarde's comments today will provide more clarity on central bank policies • Preferable to buy euro on dips, but Lagarde could repeat Fed's dovish tone, warranting wait-and-see approach