Federal Reserve (Fed) President Jerome Powell said that the Fed may delay its first rate cut due to the lack of progress in cooling inflation following a rapid decline observed by the end of last year. The US yields rose and the dollar gained a further bullish support as the major peers in Europe insisted on the diverging inflation dynamics that would allow them to lower their interest rates regardless of how long the Fed remains on hold.
Elsewhere, the barrel of US crude remains offered on geopolitical news, or the lack thereof, after Iran attacked Israel this weekend but risks remain tilted to the upside, while gold attracts buyers near record despite rising US yields as investors are looking for a safe harbour in the midst of rising geopolitical tensions, hawkish shift from the Fed and uncertainty regarding the upcoming earnings season.
Watch the full episode to find out more!
0:00 Intro
0:28 Fed Powell says ‘delay’
3:29 US dollar to extend gains on diverging inflation dynamics
6:26 Oil risks tilted to the upside
8:22 Risk averse investors seek refuge in gold
Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.
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I'm supportive
I wann the podcast to continue
Your analysis on the Biden administration’s approach to the Middle East crisis is absolutely correct, dear Ipek !
Hi and thank you Ipek
The IMF announcement seems strange…does it carry any weight?
The Fed were on a decent footing last December. Their dumb forward guidance led to a inflation redux. Powell is clearly an idiot.
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