Page 22 - Fomc News Today

Currency appreciates 0.52% in inter-bank market

The Fed said it will continue to "assess" whether further hikes are necessary.

Fed officials announced another 25 basis point increase in the federal funds rate today, placing further upward pressure on borrowing costs.

In an expected move, the Federal Reserve raised interest rates by a quarter of a percentage point (25 bps) at its Federal Open Market Committee (FOMC) meeting on Wedne...

KUALA LUMPUR: The ringgit opened lower against the US dollar today ahead of Wednesday's Federal Open Market Committee (FOMC) interest rate announcement.

Major June quarter earnings are lined up for this week. Tata Steel, Bajaj Auto, Asian Paints, SBI Life Insurance Company, Tata Motors, Larsen & Toubro, Tata Consumer Products, Bajaj Finance, Tech Mahindra, Dr Reddys Laboratories, Cipla, Axis Bank, Nestle India, Bajaj Finserv, among others will declare their Q1 earnings.

Gold prices were supported by lower-than-expected inflation in the US, UK, New Zealand and Australia, which could result in central banks pausing their interest-rate increase plans. However, after the narrative of a "peak rate" pushed US yields lower, rising yields allowed a US dollar index recovery

Markets have high confidence that the Federal Reserve will raise rates 0.25-percentage-points at their next decision on July 26. The key question is whats next.

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The ringgit is expected to trade range-bound this week as investors remained cautious ahead of the United States Federal Open Market Committee (FOMC) meeting.