Raphael Bostic, president for Atlanta FED, said in his statement that the US economy would not need 3 or 4 interest rises this year. According to him, the percentage between 1.25% and 1.50% is sufficient for the favorable development of the economy. At the end of last week, another Fed member also said that 2 interest rises were sufficient, and just as Bostic pointed out that weak inflation is the main reason for the Fed to wait with the promotions.
Against the backdrop of these speeches, the USD has continued to lose its position, and the banking sector, which has been heavily favored by the audience over recent months, is experiencing difficulties. The weak USD is in favor of Trump's pledges to boost exports, making multi-billion-dollar deals made with Saudi Arabia and China all the more attractive. As a result, we are seeing a strong stock market.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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