Trump Supports Expanding the Possibility of Asking Fed Chair to Resign – How Will the Financial Markets React?
Politics
Trump Supports Expanding the Demand for Fed Chair Powell’s Resignation
Donald Trump recently stated that if re-elected, he might ask Fed Chair Jerome Powell to resign. Trump also mentioned he is considering replacing Powell with someone who has a more lenient policy. This could lead to significant political turbulence and market sentiment volatility, as the independence of the Fed might be at risk.
Economy
U.S. Faces Risk of Recession
The U.S. is facing the risk of an economic recession, with the probability increasing by up to 45% in the next 12 months, the highest since the beginning of the year. The main causes are the trade dispute with China and Trump’s tariff policies. The professional forecast on the U.S. economy’s development faces the risk of “economic recession” – high potential growth but low actual growth.
European Central Bank Cuts Interest Rates by 0.25%
The ECB continues its monetary policy with a rate cut to the lowest level in over a year. This move aims to stimulate consumption and economic growth within the Eurozone. However, the Euro immediately depreciated following this news. Will this continue to negatively impact the region’s economy?
Global Affairs
Hamas Proposes Full Hostage Exchange for Ongoing Fire
Amid tensions in Gaza, Hamas has proposed releasing all Israeli hostages in exchange for a continuous ceasefire. However, Israel has opposed this and stated it will continue its military campaign. This tense situation has kept gold and oil prices elevated.
U.S. and Ukraine Agree to Support Strategic Products
The U.S. and Ukraine have signed a cooperation agreement for extracting strategic minerals, particularly rare earth metals and lithium. This agreement encourages reducing dependence on supplies from Russia and China and will have a significant impact on the global industrial raw materials race.
Financial Markets
Gold Prices Exceed 120 Million VND per Ounce
Gold prices today surpassed 120 million VND per ounce, reaching a new record. Increased hidden demand, geopolitical instability, and concerns about a global recession continue to drive gold prices higher. Investors are shifting towards gold as a safe haven.
Oil and Agricultural Products Prices
Brent oil prices have surpassed 90 USD per barrel, while prices for agricultural products like soybeans, corn, and wheat have dropped due to abundant production and reduced demand from China. The commodities market continues to show strong divergence, creating a critical need for advisors in adjusting investment strategies.
That’s all the hot financial news for today! Stay tuned to LiveTrade Pro so you won’t miss any updates that could impact your investment strategies.
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