Daily digest market movers: USD gains after FOMC's decision, Powell’s presser
The Federal Reserve has decided to hold the target range for the federal funds rate at 5.25% to 5.5%.
The statement mentioned that economic activity continues to expand albeit with moderated job gains and a slight increase in unemployment.
The bank stated that inflation has eased, but that it remains elevated.
Markets await Powell’s presser for further guidance
The odds of a September cut remain high, but they will depend on incoming data. Hence Weekly Jobless Claims and Nonfarm Payrolls at the end of the week will be closely relied on for direction.
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