ECB's Simkus: Greater than 50% probability of more than three rate cuts this year
Source Fxstreet
European Central Bank (ECB) Governing Council member Gediminas Šimkus said on Monday that there was a greater than 50% probability of more than three rate cuts this year, per Reuters.
Šimkus further noted that geopolitical shocks, such as an escalation of the Israel-Iran conflict, could cause them to delay the first rate cut to July from June.
Market reaction
EUR/USD showed no immediate reaction to these comments. At the time of press, the pair was trading modestly higher on the day above 1.0650.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Gold (XAU/USD) trades lower for the second consecutive day on Friday, but remains contained within previous ranges, with downside attempts limited above the $4,500 line for now.
Gold declines to near $4,500 as renewed US‑Iran tensions, Fed tightening bets weighGold price (XAU/USD) loses ground to around $4,500 during the early Asian session on Wednesday. The precious metal extends the decline as fresh US military strikes on Iran dimmed hopes of a peace deal and reinforced concerns that persistent inflation could keep interest rates higher for longer.
Gold price (XAU/USD) loses ground to around $4,500 during the early Asian session on Wednesday. The precious metal extends the decline as fresh US military strikes on Iran dimmed hopes of a peace deal and reinforced concerns that persistent inflation could keep interest rates higher for longer.
Gold price (XAU/USD) trades on a flat note around $4,455 during the early Asian session on Thursday. The precious metal steadies as US-Iran peace negotiations face uncertainties.
