Posted 1/31/2024, 8:41:38 PM
Fed Hints at Future Rate Hikes While ECB, BOE Decisions Loom - Key Data, Speeches Eyed for Dollar, Pound
- The Fed left interest rates unchanged but hinted at future hikes to combat inflation. This strengthened the US dollar.
- Key US economic data like jobless claims and manufacturing numbers take focus today.
- The ECB left rates unchanged while eyeing inflation worries in the eurozone. Lagarde speaks today.
- The Bank of England also announces its rate decision today amid a busy day for the British pound.
- Falling US yields brought USD/JPY lower while most currencies saw rangebound price action. Crude oil and gold were mixed.