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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

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The main events by the morning: August 1


August, 01 2024
watermark Economic news

  • The US Federal Reserve has kept the key rate at the same level of 5.25%-5.5%. At a press conference, the head of the regulator Jerome Powell hinted that if inflation falls in line with expectations, and the labor market remains at the current level, a rate cut in September will be possible. This is good news in the long term for commodity markets and crypto. 


  • Gold has reached a new historical high. The price of the September gold futures on the Comex exchange rose by 1.65% this night, reaching $2,501 per troy ounce. The precious metal showed growth for three days amid expectations of a softening of the Fed's rhetoric. These expectations were met when Powell hinted at a possible interest rate cut.


  • The United States, Britain and France have blocked Israel's conviction for the assassination of the head of the Hamas politburo. Russia submitted a press statement condemning the country, but it was rejected by Israel's key allies. Iran's representative to the UN Security Council said that «Israel should not avoid responsibility.»


  • ACRA predicts that the key rate in Russia at the end of 2024 will be 18-20%. Analysts believe that inflation by the end of 2024 will be at the level of 6.5-7.5%, and in 2025 it will decrease to 4-6%. The key rate at the end of next year is expected to be in the range of 12.5-14.5%, and it will return to neutral values only in 2027.


  • The EU plans to impose sanctions against Russian fish in the next package of measures. Earlier, Brussels had already banned the import of seafood, caviar and crustaceans from Russia. The Baltic countries insist on banning fish supplies. Meanwhile, 70% of pollock imported into the EU is supplied from Russia, and it will be difficult to replace it in case of a ban.

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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.