US President Trump says new Fed Chair should support interest rate cuts - Politico

Sagar Dua FXStreet

United States (US) President Donald Trump criticizes Federal Reserve (Fed) Chair Jerome Powell, in an interview with Politico during the European trading session on Tuesday, for not reducing interest rates, calling him "not a smart person". Trump also talked about the current status of truce discussions with Russia and Ukraine.

Additional remarks

Would make support for immediately slashing interest rates as a litmus test in the choice of a new Fed chair (well, duh).

Ukraine hasn't had an election in a long time.

No question Russia has a stronger position.

On Ukraine: Europe is not handling it well.

Europe nations are 'decaying, leaders are 'weak'.

Trump denies pledging a bailout for Hungary.

Trump may make tariff changes to lower some prices.

Trump declined to rule out troops in Venezuela.

Could extend anti-drug military operations to Mexico and Colombia.

Market reaction

US President Trump's comments seem ineffective on the US Dollar (USD). The US Dollar Index (DXY) remains steady around 99.00 as of writing.

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 Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.02%	-0.02%	0.11%	-0.10%	-0.19%	-0.23%	-0.02%
EUR	0.02%		-0.00%	0.13%	-0.07%	-0.16%	-0.18%	-0.00%
GBP	0.02%	0.00%		0.17%	-0.07%	-0.16%	-0.18%	0.00%
JPY	-0.11%	-0.13%	-0.17%		-0.22%	-0.31%	-0.34%	-0.15%
CAD	0.10%	0.07%	0.07%	0.22%		-0.09%	-0.12%	0.07%
AUD	0.19%	0.16%	0.16%	0.31%	0.09%		-0.02%	0.16%
NZD	0.23%	0.18%	0.18%	0.34%	0.12%	0.02%		0.18%
CHF	0.02%	0.00%	-0.00%	0.15%	-0.07%	-0.16%	-0.18%

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

Sagar Dua

FXStreet

Sagar Dua is associated with the financial markets from his college days. Along with pursuing post-graduation in Commerce in 2014, he started his markets training with chart analysis.

GBP/USD trims gains; back to 1.3450-ish

The persistent weakness hurting the Greenback lends support to the British Pound and the rest of the risk-linked assets, sending GBP/USD to new two-day tops past 1.3480 on Wednesday. Indeed, Cable advances for the second day in a row helped by the constant optimism around a potential US-Iran deal.

EUR/USD hovers around two-month peaks near 1.1560

EUR/USD advances for the second day in a row, challenging multi-week highs in the 1.1560 zone on Wednesday. The persistent weakness hitting the US Dollar underpins the move higher in spot while market participants continue to closely follow developments from the Middle East and gear up for upcoming key data releases in the US jobs market. On Thursday, all the attention will be on the release of weekly Claims alongside Challenger Job Cuts.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

Gold vs Bitcoin Price Prediction: Breakout momentum builds on Strait of Hormuz deal hopes

Gold (XAU/USD) is accelerating its rebound near $4,250 at the time of writing on Wednesday amid easing geopolitical tensions after United States (US) President Donald Trump said that a deal to reopen the Strait of Hormuz was imminent. Bitcoin (BTC) mirrors the metal’s near-term bullish bias, edging higher toward the resistance at $65,000.

Taking out the lines in the sand

Good Day... And a Wonderful Wednesday to you! Well, just as I suspected, my beloved Cardinals' bats went silent last night in the Bronx, and they lost 0-2... The Yankees' bats were exactly a murderer's row, but they hit 2 homers and won. I said yesterday that the song : Just Once In My Life, could be the Cardinals' song after hitting 5 home runs the previous night!

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.