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Hello everyone, today XM Forex will bring you "[XM Forex]: The US government prioritizes allocating funds to ensure military pay, or it may touch on sensitive issues." Hope this helps you! The original content is as follows:
On October 14, spot gold was trading around US$4,114.42 per ounce. Gold prices once again hit a new all-time high of US$4,116.87 per ounce on Monday, affected by renewed tensions in trade relations and expectations of a U.S. interest rate cut. U.S. crude oil was trading around US$59.65 per barrel. Oil prices rose on Monday as trade tensions eased.
Eugene Epstein, head of trading and structured products at Moneycorp in New Jersey, said, "This is a bit like a repeat of what happened after Liberation Day. Traditionally, when there is any kind of risk aversion or stress across asset classes or markets, the dollar strengthens, and like Liberation Day, due to Trade tensions between the United States and its trading partners are exactly the opposite, and people will actually sell the dollar once a similar situation occurs. "
U.S. Treasury Secretary Bessant said on Monday that U.S. President Trump still plans to meet at the end of October and the two sides are working to ease tensions caused by tariff threats and export controls.
Foreign exchange and rates strategist Thierry Wizman said in an investor note that trade tensions may affect the Federal Reserve's interest rate decision at its next meeting.
He said: "If the prospect of imposing high tariffs again on October 29 still exists, the FOMC will not feel edoyoko.comfortable, especially if U.S. inflation remains 'sticky'. If anything, the prospect of higher tariffs may make the Fed less willing to cut interest rates, or more inclined to "hawkish" interest rates again."
The French presidential palace announced the new cabinet lineup of Prime Minister Sebastien Lecornu on Sunday and re-appointed the president.Macron's close ally Roland Lescure is Finance Minister. European markets were generally unaffected.
The market is assessing the future path of Sanae Takaichi, the new president of the Liberal Democratic Party of Japan, as the Komeito Party withdrew from the ruling coalition last Friday, dealing a blow to her hopes of becoming Japan's first female prime minister.
The minutes of the Reserve Bank of Australia's September meeting confirmed the prudent attitude of policy, with members concluding that there was "no immediate need to reduce" the cash rate. The board agreed that economic data and forecasts since August support maintaining current restrictive levels, while emphasizing that decisions will remain "cautious and data-dependent."
The discussion mainly focused on inflation risks, especially after the monthly CPI indicator strengthened in July and August. While acknowledging that the data were partial and volatile, members noted that unexpected upside in market services and housing costs suggested that September quarter CPI could be higher than expected in the August forecast.
The meeting minutes showed growing concern that if this pattern continues, the Bank's assumptions about the balance of aggregate supply and demand may be too optimistic. Members also cited lessons from abroad, namely stubbornly high service sector inflation, as a warning for domestic policy adjustments.
Nonetheless, the board acknowledged that the risks remain "two-sided." On the bright side, consumption may recover faster than expected, or capacity pressure may be stronger. On the downside, members highlighted the drag of weak consumer confidence, slowing job growth and weak wage indicators.
The balance of views suggests the RBA will proceed cautiously in the edoyoko.coming months, awaiting confirmation of the third-quarter inflation report before deciding at its November meeting whether further easing of policy is still justified.
BoE policymaker Meghan Green struck a hawkish tone today, warning that interest rates may need to remain high for an extended period of time to ensure inflation is adequately contained. Monetary policy is "less restrictive than before," she said, a worrying sign given that price growth has shown new momentum over the past year.
While Green believes the deflation process "remains intact," she expressed concern that it is slowing down, adding that an earlier spike in inflation above 11% could reshape consumer and business behavior.
Ahead of key UK wage and employment data on Tuesday, Green said the labor market appeared to be stabilizing after a modest slowdown, avoiding the sharp deterioration that some feared earlier this year. This resilience, coupled with lingering inflationary pressures, supports the case for patience before cutting rates again.
To ensure inflation is adequately defeated, Green believes the bank rate should be "more restrictive than the market curve" but cannot damage the BoE's credibility by alternating rate hikes and cuts. Instead, she said the preferable path would be to "maintain higher levels for a longer period of time", and "skip some rounds of interest rate cuts."
In her first speech, new Philadelphia Fed President Anna Paulson called for a balanced monetary policy as the economy copes with rising labor market risks and uncertain inflation dynamics.
Policy should move to a "more neutral stance," she said, emphasizing that the Fed must weigh both sides of its mandate. While she noted that the job market generally remains solid, she warned that things were "moving in the wrong direction" and risks were "clearly" increasing.
Paulson said she supports a measured pace of rate cuts consistent with the Fed's latest forecasts, which outlined a 25 basis point cut last month and an additional 50 basis points of easing by the end of 2025, followed by further cuts in subsequent years.
On the inflation front, Paulson acknowledged that recent tariff increases could provide a modest boost to prices, but said she did not expect those effects to last. Still, she warned against rushing into significant rate cuts given the uncertainty about where the neutral rate truly is.
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