KEY POINTS: The dollar slightly fell ahead of the Fed’s statement. Gold remained stable after an expected decision. Oil rose by 0.4% amid regional tensions. The WSJ Dollar Index dropped 0.03% to 95.47, with a monthly loss of 0.38% and a yearly decline of 7.09%. Markets anticipate Jerome Powell’s moderate tone, with potential rate cuts starting September, though geopolitical uncertainty limits selling pressure on the dollar. The euro stayed at 1.0760, while the pound hovered around 1.2715. The Japanese yen remained at 157.50, and the Canadian dollar showed stability. Gold edged up 0.1% to $3,389.80 per ounce after the Fed kept rates unchanged, projecting two cuts in 2025. Investors awaited Powell’s message, keeping gold in a sideways trend. WTI oil rose 0.4% to $75.14 per barrel, and Brent increased 0.3% to $76.70, amid uncertainty over Iran and regional tensions. Capital Economics noted that prices do not yet reflect a severe escalation scenario, as global supply remains sufficient.
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