Why is the Federal Reserve still dragging its feet when the global market is eagerly awaiting an interest rate cut?

The Federal Reserve is waiting for more data to show that inflation is steadily decreasing, but excessive delays may lead to economic decline. Analysts believe that if the Federal Reserve continues to hold steady in July, a rate cut in September will be a "done deal".

wallstreetcn06:03 ET

AUD/USD: To Breach Below 0.6660 – UOB Group

There is scope for the Australian Dollar (AUD) to drop below 0.6660; it is too early to determine if 0.6640 is within reach, UOB Group FX strategists Quek Ser Leang and Peter Chia note.

FXStreet05:00 ET

Forex Today: Mixed Opening to Week as Markets Assess US Political Developments

The US Dollar (USD) struggles to find demand at the beginning of the week, while US stock index futures trade in positive territory. Federal Reserve Bank of Chicago's National Activity Index for June will be the only data featured in the US economic calendar on Monday. Meanwhile, investors will keep a close eye on political developments in the US after President Joe Biden announced on Sunday that he is withdrawing from the 2024 Presidential election.

FXStreet03:39 ET

Sentiment On The USD Fluctuates Amid Political Uncertainties

Recent developments in financial markets have significantly impacted the outlook for the USD.

Business Today22:16 ET

President Biden Dropping Out Unlikely to Materially Shift Markets -- Market Talk

In the near term, President Biden's not seeking re-election and endorsing Vice President Kamala Harris is unlikely to shift markets materially, says Piers Bolger, CIO at Infinity Asset Management.

WSJ22:16 ET

Asian Currencies Consolidate as Traders Assess Fed's Outlook, Possible Trump Victory -- Market Talk

Asian currencies consolidate as traders assess Fed's monetary policy outlook and a possible victory by Donald Trump in the U.S. presidential elections.

WSJ21:54 ET