|

Fed’s Daly: Could leave rates where they are

Mary Daly, President of the Federal Reserve (Fed) Bank of San Francisco, spoke at the University of California-Berkeley's Fisher Center on Friday. She indicated that, at this point, she is observing whether higher oil prices are affecting the prices of other goods and services.

Key takeaways:

Before Oil price shock, felt one or two cuts in 2026 would be needed.

At this point, looking to see if higher Oil prices spill into other goods and services prices.

In wait and see mode, nice place to be.

Could leave rates where they are.

If inflation took off would need to raise rates; if conflict ends quickly could cut.

Currently compensating low labor force growth with higher productivity growth.

Zero job growth could be the new steady state.

Heading toward zero labor force growth owing to demographics.

Outlook depends upon duration of rise in oil prices and persistence of conflict.

Consumers nervous about the economy but spending.

Businesses cautiously optimistic.

There is plenty of room to increase labor force participation.

Absence of immigration really matters as well as investment in tech.”

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Euro.

USDEURGBPJPYCADAUDNZDCHF
USD-0.06%-0.12%-0.60%-0.20%-0.26%-0.16%-0.43%
EUR0.06%-0.07%-0.54%-0.15%-0.21%-0.10%-0.39%
GBP0.12%0.07%-0.49%-0.08%-0.13%-0.03%-0.30%
JPY0.60%0.54%0.49%0.41%0.35%0.44%0.17%
CAD0.20%0.15%0.08%-0.41%-0.06%0.03%-0.23%
AUD0.26%0.21%0.13%-0.35%0.06%0.10%-0.17%
NZD0.16%0.10%0.03%-0.44%-0.03%-0.10%-0.28%
CHF0.43%0.39%0.30%-0.17%0.23%0.17%0.28%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Author

Agustin Wazne

Agustin Wazne joined FXStreet as a Junior News Editor, focusing on Commodities and covering Majors.

More from Agustin Wazne
Share:

Editor's Picks

AUD/USD holds steady near 0.7200 amid escalating US-Iran tensions

AUD/USD consolidates just below its highest level since mid-May, touched on Friday, and hovers around 0.7200 at the start of a new week amid mixed cues. Hawkish RBA expectations continue to act as a tailwind for the Aussie. Meanwhile, the upbeat US NFP report lifted Fed rate hike bets, which, along with escalating US-Iran tensions, underpins the safe-haven US Dollar and caps the currency pair.

USD/JPY collapses to seven-month lows near 154.00

USD/JPY extends its decline on Monday, sliding to the area of seven-month lows near the 154.00 neighbourhood, all amid an increasingly hawkish repricing of the BoJ’s policy outlook and repatriation chatter.

Gold bounces off lows, back above $4,400

Gold builds on Friday’s losses, although it manages to regain some composure and reclaim the $4,400 mark per troy ounce on Monday. The yellow metal’s decline follows the move lower in the Greenback and steady caution ahead of key US data releases toward the end of the week.

Bittensor: TAO eyes $300 amid launch on Raydium, parody meme coin, ChatGPT-6 Astra release

Bittensor is trading in the green on Monday, continuing a steady upward trend over the last five days, with a 25% gain. Social chatter surrounding Bittensor is increasing amid a similarly named meme coin launched on Solana and the release of ChatGPT-6 Astra. The technical outlook for TAO is bullish as momentum strengthens and buyers target the $300 breakout.

Strong US jobs, Middle East tensions and key inflation data ahead
Good morning all, hope you enjoyed your weekend. Markets are starting the week after Friday’s stronger-than-expected US jobs report, which increased expectations that the Fed could raise rates at its September meeting. However, US markets are closed today for the Labor Day holiday, so liquidity should be lower and we may see slower price action.
Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.