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Gold retreat despite the US Federal decision to cut interest rates

2019-09-19 09:25 am | Resource: News | No Views : 16

 Gold retreat despite the US Federal decision to cut interest rates

Gold fell after rising yesterday for the third straight session, after the Federal Reserve cut interest rates for the second time this year as expected.

US stocks fall ahead of market after rate cuts

US stocks fell in pre-market trading on Thursday as investors digested the Federal Reserve's decision to cut interest rates.

The divided Federal Reserve cut interest rates by 25 basis points to a target range of 1.75% -2%, with seven voting members favoring such a move, two policymakers wanted to keep prices, and James Pollard wanted to cut rates further. . US President Donald Trump initially criticized the central bank for "failing again," but later described the decision as "good."

Trump: The Fed made some mistakes

US President Donald Trump told reporters in San Diego that the Fed "made some mistakes", but today the rate cut is fine. Speaking of Federal Reserve Chairman Jerome Powell, Trump pointed out that he "did very quickly, but fell very slowly," reiterating that the US economy should enjoy the same "advantages" as Europe.

However, companies are doing well, and the US economy is better than anything else, so this "doesn't matter" much.
  • The Dow lost 0.20% at 10:39 am CET.
  • And at the same time the Nasdaq 100 fell 0.20%
  • The S&P 500 fell 0.19% at 10:40 am CET.

The dollar index, which tracks the performance of the greenback versus a basket of six currencies, fell 0.12% to 98.44 points. The euro rose 0.28% against the dollar to trade against 1.10602 at 10:40 CET.

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