The Federal Reserve needs more evidence to confirm that the path to cooling inflation is unlikely to cut interest rates in the short term

This week, Federal Reserve officials received evidence that inflation continues to fall (albeit fluctuating), but policymakers are unlikely to change their positions where more evidence is needed. The Zhitong Finance App learned that government data released on Friday showed that the basic inflation index preferred by the Federal Reserve cooled down last month, and the growth rate was the slowest since this year. Additionally, consumers cut spending in April as the economy grew slower than expected in the first quarter. These reports paint a picture of a moderate economic slowdown, which is what policymakers want to see, and dispels concerns about a renewed acceleration in price growth. But officials may look for it after the next few weeks of meetings

Zhitong Finance50minutes ago

EUR/USD Snaps Four-Month Losing Streak As Weak US Data Provide Propulsion

InvestingCubeMay 31 10:58 ET

Buy EUR/USD, Target 1.1074, Says Spectra Markets' Brent Donnelly

Traders should buy EUR/USD and target a move up to 1.1074 because the disinflation trend in Europe has stalled and this is likely to see the euro benefit from higher bond yields in the near-term, acco

MT NewswiresMay 31 10:27 ET

Euro Inflation Consistent With Directionless, Range-bound Trend in EUR/USD

The news Friday that euro-area inflation increased in May reflects that the waning disinflation trend in Europe is consistent with a directionless and broadly range-bound EUR/USD, as the single curren

MT NewswiresMay 31 06:43 ET

Oil prices fall as Federal Reserve officials hint they won't cut interest rates

Remarks by Federal Reserve officials about keeping interest rates stable led to a drop in oil prices. U.S. gasoline inventories increased by 2 million barrels, indicating a decline in demand. OPEC+ negotiations will extend sharp production cuts to 2025 and stabilize the market.

FX678 FinanceMay 31 06:31 ET

Eurozone CPI rebounds to 2.6% year on year in May as ECB considers cutting interest rates next week

Expectations of interest rate cuts declined further after the data was released. The Eurozone money market now prices that the ECB will cut interest rates by less than 55 basis points in 2024, while before the inflation data was released, it was about 57 basis points.

wallstreetcnMay 31 05:39 ET