Fed’s Bullard: March FOMC marked the end of policy normalization

Haresh Menghani FXStreet

St. Louis Fed President James Bullard, speaking about the economy and monetary policy in Mississippi, said that the Fed needs to tread carefully to sustain expansion and March FOMC marked the end of policy normalization.

Additional quotes:

• Market-based inflation expectations point to inflation being below the Fed's target in 2019 and in next 5 years.
• Treasury curve has flattened significantly. Meaningful, sustained inversion would send a bearish signal.
• Changes to monetary policy will owe to new data and not normalization strategy.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.