Powell still sees rate cuts this year, ECB enters the spotlight
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Federal Reserve Chair Jerome Powell stated that rate cuts may be appropriate this year, while the European Central Bank (ECB) is in focus. The US dollar has declined against major currencies, with the yen rebounding on speculation of the Bank of Japan (BoJ) exiting negative interest rates. The Canadian dollar gained after the Bank of Canada (BoC) decided to keep interest rates unchanged but expressed concerns about high underlying price pressures. The ECB is expected to maintain its current rates despite economic slowdown and inflation concerns. Wall Street rebounded and gold reached a new record high following Powell's remarks. The market is closely watching Friday's jobs data for further clarity on the timing of rate cuts. The gold rally may continue even if the dollar rebounds. The article provides market analysis and opinions on the potential impact of rate cuts and central bank decisions.

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https://www.investing.com/analysis/powell-still-sees-rate-cuts-this-year-ecb-enters-the-spotlight-200646642