Expectations for the Upcoming Federal Reserve Meeting Minutes: The minutes from this week’s Federal Reserve meeting are likely to be hawkish.
The board members may debate the appropriateness of the current interest rate level.
Content:
New Historical Levels for Gold
Death of the Iranian President and Foreign Minister in a Helicopter Crash
Expectations for the Upcoming Federal Reserve Meeting Minutes
New Historical Levels for Gold
Global gold prices witnessed a historic rise during Monday’s trading session.
The slowdown in U.S. inflation boosted expectations that the Federal Reserve would soon implement its first interest rate cut.
Meanwhile, silver prices surged to their highest levels in more than 11 years.
Data released last week showed signs of slowing inflation in the United States,
leading traders to expect a 65% chance of a U.S. interest rate cut by September.
Due to the weakening dollar index, gold priced in the U.S. currency has become more attractive to buyers holding other currencies.
Death of the Iranian President and Foreign Minister in a Helicopter Crash
Iranian President Ebrahim Raisi and Foreign Minister Hossein Amir-Abdollahian died in a helicopter crash.
The accident occurred after President Raisi visited Azerbaijan,
where the “Qiz Qalasi” dam was inaugurated in collaboration with Azerbaijani President Ilham Aliyev.
The helicopter crashed while returning to Tabriz, in the Dizmar forests between
the towns of Ouyi and Bir Davood in East Azerbaijan Province.
On Monday, the Iranian government issued an official statement mourning President Raisi,
the Foreign Minister, and all other helicopter passengers.
Expectations for the Upcoming Federal Reserve Meeting Minutes
The minutes from the upcoming Federal Reserve meeting, scheduled to be held this week,
are likely to have a hawkish tone,
with a potential debate among the board members on the appropriateness of the current interest rate level.
The minutes are expected to be more hawkish in tone than
the press conference held by Federal Reserve Chairman Jerome Powell.
During the May Open Market Committee meeting,
Federal Reserve members decided to keep interest rates unchanged.
Powell indicated in the press conference following the decision that raising interest rates was not the next expected step.
Expectations for the Upcoming Federal Reserve Meeting Minutes