Odaily reported that GMX 🫐 said in a post on X that the Federal Open Market Committee, or FOMC, will release its rate decision at 14:00 Eastern Time on Oct. 28, with Warsh scheduled to hold a press conference at 14:30. According to the post, markets are assigning about a 90% probability to the Fed keeping rates unchanged in the 3.75% to 4.00% range. The same post said the probability of a rate hike in December is about 80%.
GMX 🫐 also said oil prices have pulled back, but energy-driven inflation is still persisting. In that context, a more hawkish stance in December would typically lift the U.S. dollar and bond yields while putting pressure on gold. The post added that gold is currently around $4,000. The information was cited by Odaily in a policy and regulation newsflash.
Odaily reported that GMX 🫐 said in a post on X that the Federal Open Market Committee (FOMC) will announce its rate decision at 14:00 Eastern Time on Oct. 28, and that Warsh will hold a press conference at 14:30.
According to the post, markets see about a 90% chance that the Fed will keep rates unchanged in the 3.75% to 4.00% range. The probability of a December rate hike is put at about 80%.
GMX 🫐 also said oil prices have fallen back, but energy-driven inflation remains in place. If the Fed takes a more hawkish stance in December, that would typically push up the U.S. dollar and yields, while weighing on gold. Gold is currently around $4,000, according to the post.
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