Fed’s Kashkari: Inflation is still too high

Agustin Wazne FXStreet

Federal Reserve (Fed) President of the Bank of Minneapolis Neel Kashkari said inflation is still too high. In an interview with CNBC on Monday, Kashkari added he believes the Fed is close to a neutral rate.

Key takeaways

Job market is clearly cooling.

Inflation is still too high.

My guess is we're close to neutral now.

There is a risk the unemployment rate can pop from here.

Inflation is slowly trending down.

Expect economy to remain resilient.

Lot of confidence housing services inflation is coming down.

Wage growth is slowly tending down.

My expectation is low hiring but low firing.

Have no idea if Powell stays on after chair term ends.

Would love to see Powell remain as a colleague for as long as he likes.

Not concerned about risk of Fed bank presidents being fired.

Don't agree with Bessent that bank Presidents don't represent their districts well.

AI is a big company story from what I hear, not an issue with small companies.

K-shaped economy still seems to ring true in my district.

Lower-to-middle income anxiety is about inflation.

We're approaching a kind of equilibrium on tariff front.

Asked about possible Supreme Court ruling against administration on tariffs, said it would create New uncertainty."

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 Canadian Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.47%	0.19%	0.00%	0.56%	0.43%	0.41%	0.49%
EUR	-0.47%		-0.28%	-0.42%	0.12%	-0.04%	-0.05%	0.02%
GBP	-0.19%	0.28%		-0.17%	0.38%	0.25%	0.22%	0.30%
JPY	0.00%	0.42%	0.17%		0.55%	0.42%	0.39%	0.47%
CAD	-0.56%	-0.12%	-0.38%	-0.55%		-0.13%	-0.15%	-0.07%
AUD	-0.43%	0.04%	-0.25%	-0.42%	0.13%		-0.02%	0.04%
NZD	-0.41%	0.05%	-0.22%	-0.39%	0.15%	0.02%		0.07%
CHF	-0.49%	-0.02%	-0.30%	-0.47%	0.07%	-0.04%	-0.07%

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

FXStreet

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

AUD/USD pulls back from monthly high but holds above 0.7000

AUD/USD retreats from the monthly high set earlier this Thursday, sliding back to 0.7000 during the Asian session as a further escalation of tensions in the Middle East undermines the risk-sensitive Aussie. However, recent hawkish comments from RBA officials could support the Australian Dollar. Furthermore, the prevailing US Dollar selling bias, despite Fed hike bets and geopolitical uncertainties, could limit losses for the pair.

USD/JPY declines to a one-week low; eyes trading range support near 157.50 on weaker USD

USD/JPY drops to a one-week low during Thursday’s Asian session, with bears now awaiting a break below multi-week range support near mid-157.00s before placing fresh bets amid a broadly weaker US Dollar. Despite bets for a December Fed rate hike and Middle East jitters, the recent decline in US bond yields keeps USD depressed near a three-week low. Moreover, hawkish BoJ expectations and intervention risks underpin the Japanese Yen, further weighing on the currency pair.

Gold extends fall below $4,100 as Fed hike bets counter USD weakness

Gold weakens further below $4,100, hitting a fresh one-week low as oil-driven inflation risks reinforce Fed hike bets and weigh on the bullion heading into the European session. Meanwhile, falling US bond yields keep the US Dollar depressed near a three-week low despite geopolitical uncertainties. This, however, does little to support the non-yielding bullion, backing the case for further losses.

Dogecoin stays weak despite whales and new deal

Dogecoin price remains under pressure, trading below $0.081 despite a modest rebound earlier this week. Santiment data shows signs of accumulation, and Wednesday’s announcement of a Dogecoin Labs partnership with the Dogecoin Foundation adds a mildly bullish sentiment. Meanwhile, mixed derivatives metrics and weakening momentum indicators continue to limit the meme coin recovery.

Dow Jones Industrial Average climbs with the AI trade, led by a bank

The Dow Jones Industrial Average got most of its share of Wednesday's artificial intelligence (AI) rally from a bank and a bulldozer maker. The index closed near 52,800, its highest close since early September. SpaceX (SPCX) reported 161% revenue growth and the Nasdaq Composite rose more than 1%, but under price weighting the gains that counted most belonged to Goldman Sachs (GS) and Caterpillar (CAT).

The US Dollar fell. Gold didn't rally. That tells you everything

Gold (XAU/USD) is struggling to capitalize on a weaker US Dollar (USD), after repeatedly failing to establish itself above the $4,200 level. The precious metal remains confined to a relatively narrow trading range despite a combination of developments that would normally support higher prices.