Fed Chair Nomination
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Gold Price Forecast – Fed Chair Nomination Triggers Reset Before Next Rally
FX Empire· 2026-02-01 11:55
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Dollar Gains on Positive US Jobless Claims News
Yahoo Finance· 2025-12-04 20:35
Group 1 - The dollar index rose by +0.17% after recovering from a 5-week low, driven by a drop in US weekly initial unemployment claims to a 3-year low, indicating a stronger labor market [1][4] - The dollar initially fell due to a rally in the yen and expectations of a Fed interest rate cut at the upcoming FOMC meeting [2][5] - The markets are pricing in a 91% chance of a 25 basis point cut in the fed funds target range at the next FOMC meeting on December 9-10 [5] Group 2 - US November Challenger job cuts increased by +23.5% year-on-year to 71,321, which is the highest for November in three years, but lower than the expected +48.0% [4] - US weekly initial unemployment claims unexpectedly fell by -27,000 to a 3-year low of 191,000, contrasting with expectations of an increase to 220,000 [4] - US September factory orders rose by +0.2% month-on-month, slightly below the expected +0.3% [4] Group 3 - President Trump plans to announce his selection for the new Fed Chair in early 2026, with Kevin Hassett seen as a likely candidate, which could be bearish for the dollar due to his dovish stance [3] - Comments from ECB Executive Board member Cipollone indicated that the Eurozone economy remains resilient, with balanced risks around inflation [6]