🔵 Here are the most important developments:
• Despite the US interest rate being cut by a quarter point, the dollar received significant support yesterday evening from the Federal Reserve and Jerome Powell's statement.
• The Federal Reserve's statement indicated that inflation expectations will be higher than previous expectations for 2025.
• The Federal Reserve has given public hints that it will slow down the interest rate cut process for 2025.
• Which led to the fall of currencies, metals and gold against the dollar.
• Today we are witnessing a process of profit-taking and the return of the dollar to a relative decline due to profit-taking operations.
• While we await the growth expectations for the US GDP this evening at 4:30 Saudi time.
⬅️ If growth declines below 2.8%, the dollar will lose part of its profits and return to decline against currencies.
👈 As for Japan, interest rates were fixed and only one member supported raising the interest rate, which led to a significant decline in the yen.
• Markets are also awaiting the British interest rate decision, which is expected to remain at 4.75%, but the British Central Bank statement may or may not hit the pound.