Fed’s Bullard: No pressing need to raise interest rates - RTRS

Dhwani Mehta FXStreet

More comments crossing the wires from St. Louis Fed President James Bullard, as he continues to speak on the Fed’s monetary policy program at a workshop in Melbourne.

Key Headlines via Reuters:

US is in low-rate, low-productivity era, with no pressing need to raise interest rates

Fed can take wait-and-see approach to fiscal or tax changes under the trump administration, with no effect likely in 2017

No reason to raise the Fed's target interest rate any further until growth moves into a higher gear

Now a good time to reduce the size of the balance sheet

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

EUR/USD stays well bid beyond 1.1700

EUR/USD keeps the bid tone in place toward the end of the NA session on Tuesday, trading well north of the 1.1700 barrier on the back of the intense decline in the US Dollar, all amid the resurgence of the “Sell America” trade. Moving forward, investors’ attention will be on the release of US PCE data on Wednesday.

GBP/USD eases from tops, back to 1.3460

GBP/USD is extending its winning streak into a second session, now surrendering some gains and receding toward the 1.3460 area on Tuesday. Cable’s rebound remains propped up by the persistent selling pressure on the Greenback, while the British Pound appears, for now, largely unfazed by the mixed signals from the UK labour market.

Gold conquers the $4,700 mark on Trump’s threats

Gold builds on Monday's gains and hits a new record high around $4,760 per troy ounce on Tuesday. Escalating geopolitical tensions and growing fears of deepening trade conflicts, alongside the broad-based selling pressure surrounding the US Dollar continue to fuel the yellow metal’s rally.

Bitmine scoops additional ETH, receives approval to increase authorized shares

Ethereum (ETH) treasury firm Bitmine Immersion Technologies (BMNR) increased its stash to 4.2 million ETH after acquiring 35,628 ETH last week. The firm's holdings represent 3.48% of the total ETH circulation, just 1.52% shy of its goal to acquire 5% of the supply.

Greenland tariffs: What happened, and how to position for the new Europe risk premium

Over the weekend, President Trump threatened a new round of tariffs on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and the UK, with reporting flagging 10% from February 1 and a possible step-up later.

Crypto Today: Bitcoin, Ethereum and XRP extend correction as rising geopolitical tensions fade risky sentiment

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) prices are extending their losses on Tuesday as risk-on sentiment fades amid rising geopolitical tensions over Greenland.