Fed's Bostic: I would vote to hold rates – Bloomberg

Matías Salord FXStreet

Atlanta Federal Reserve President Raphael Bostic told Bloomberg on Monday that, if he were voting now, he would vote to hold rates in June. However, he warned that he has to keep a possible rate hike on the table.

Regarding inflation, Bostic mentioned that there is still a way to go. According to him, there has been “some really good progress” made. He forecast inflation to be in the high 3s by year-end.

Market reaction

Bostic's comments triggered no surprises, as market participants are currently pricing in a pause at the FOMC's June meeting. The US Dollar Index is falling by 0.30% on Monday, trading near 102.50.

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

GBP/USD trims gains, hovers around 1.3520 on US CPI data

GBP/USD adds to the weekly move higher and keeps the trade above the 1.3500 threshold on Wednesday. Cable’s extra recovery follows the modest selling pressure on the Greenback after US CPI readings matched consensus in July.

EUR/USD retargets 1.1550 on US inflation

EUR/USD picks up some traction and flirts with the 1.1550 region on Wednesday. The pair’s modest advance comes as the US Dollar gathers some steam after US CPI data matched estimates last month.

Gold clings to gains above $4,400 post-US CPI

Gold reverses the recent weakness and reclaims the area past the $4,400 mark per troy ounce on Wednesday. The precious metal’s recovery picks up pace and exceedes the $4,400 level in the wake of the release of in-line US inflation figures in July and the marginal gains in the US Dollar.

Ripple lags recovery as exchange reserves expand

Ripple is trading within a broadly constrained technical structure, with support at $1.00 and key moving averages limiting its recovery potential. In August, the remittance token declined by approximately 6.5%, extending its total pullback to around 14% from July's $1.18 peak.

911 million shares freed: Why SpaceX rallied into its own supply

The most heavily trailed supply event of the year landed on August 6, and the SpaceX (SPCX) stock went up. Roughly 911.5 million shares held by insiders and early backers became eligible to trade, around 43% more than the entire float sold at the listing.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.