US Fed Meeting Outcome today: Analysts expect a status quo in the Fed's benchmark rate, which is hovering at a 23-year high of 5.3 per cent, after three straight higher-than-expected inflation reports
Steve Englander predicts Fed rate cuts reduced to twice in 2019, with first cut likely in July. Market uncertainty prevails due to inflation concerns, affecting risk trade performance amid slow rate cut expectations. Englander says: "If you were to tell the market right now, cutting rates is out of the picture, we would see the risk trade a lot more poorly than it has so far."
With March CPI prints above expectations, chances of a US Federal Reserve rate cut are low. Fed officials stick to 2 per cent inflation target, won t rush on rate cuts.
Gold Prices: Rajesh Kalyanraman, executive director of Kalyan Jewellers said, “.We have seen multiple challenges.as some states have cut gold rates. I don’t know if undercutting gold rates is legally possible. But we need to stress on transparent jewellery business to grow together. Our customers need to feel the transparency.”