The Pound Sterling (GBP) retreated after posting back-to-back days of gains versus the US Dollar (USD).
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Pound Sterling Price News and Forecast: GBP/USD pauses rally as traders eye Fed, BoE’s decisions
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FOREX NEWS & BLOG
Watch live: Powell holds a press conference following the May 7 FOMC rate decision
It’s almost showtime.
The initial FOMC statement was hawkish in my reading as it conceded nothing on a softening economy or jobs market while noting higher risks on both sides of its mandate. It also explained away the GDP report.
This article was written by Adam Button at www.forexlive.com.
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A comparison of the March 2025 statement to the May 2025 statement
March 19May 07,
2025
Federal Reserve issues FOMC statement
For release at 2:00 p.m. EDT
- RecentShare
Although swings in net exports have affected the
data, recent indicators suggest that economic activity has
continued to expand at a solid pace. The unemployment rate has stabilized at a
low level in recent months, and labor market conditions remain solid. Inflation
remains somewhat elevated.
The Committee seeks to achieve maximum employment and
inflation at the rate of 2 percent over the longer run. Uncertainty aroundabout
the economic outlook has increased further.
The Committee is attentive to the risks to both sides of its dual mandate
and judges that the risks of higher unemployment and higher inflation have
risen.
In support of its goals, the Committee decided to maintain
the target range for the federal funds rate at 4-1/4 to 4-1/2 percent. In
considering the extent and timing of additional adjustments to the target range
for the federal funds rate, the Committee will carefully assess incoming data,
the evolving outlook, and the balance of risks. The Committee will continue
reducing its holdings of Treasury securities and agency debt and agency
mortgage‑backed securities. Beginning in
April, the Committee will slow the pace of decline of its securities holdings
by reducing the monthly redemption cap on Treasury securities from $25 billion
to $5 billion. The Committee will maintain the monthly redemption cap on agency
debt and agency mortgage-backed securities at $35 billion. The
Committee is strongly committed to supporting maximum employment and returning
inflation to its 2 percent objective.
In assessing the appropriate stance of monetary policy, the
Committee will continue to monitor the implications of incoming information for
the economic outlook. The Committee would be prepared to adjust the stance of
monetary policy as appropriate if risks emerge that could impede the attainment
of the Committee’s goals. The Committee’s assessments will take into account a
wide range of information, including readings on labor market conditions,
inflation pressures and inflation expectations, and financial and international
developments.
Voting for the monetary policy action were Jerome H. Powell,
Chair; John C. Williams, Vice Chair; Michael S. Barr; Michelle W. Bowman; Susan
M. Collins; Lisa D. Cook; Austan D. Goolsbee; Philip N. Jefferson; Neel
Kashkari; Adriana D. Kugler; Alberto G. Musalem; and Jeffrey
R. Schmid. Voting against this action was Christopher J. Waller,
who supported no change for the federal funds target range but preferred to
continue the current pace of decline in securities holdings..
Neel Kashkari voted as an alternate member at this meeting.
This article was written by Greg Michalowski at www.forexlive.com.
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Trump says he isn’t open to lowering China tariffs to get them to the negotiating table
A reporter asked Trump:
“Are you open to pulling back your tariffs in order to get China to the negotiating table?” Trump replied : “No.”
I wouldn’t take this at face value. What’s he going to say? Yes he is? Before the meeting in Switzerland on the weekend?
You don’t have to have studied The Art of the Deal to know that you shouldn’t make an offer through the media before a meeting.
He talked about Gaza and India as well and the only other comments on the trade war were:
- Says he doesn’t know on tariff exemptions
- Will take a look at tariff exemptions
These comments and the more-hawkish lines from the Fed are weighing on stock markets.
This article was written by Adam Button at www.forexlive.com.
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USD/JPY struggles as Fed policy decision and US-China trade talks loom
The USD/JPY pair is trading in a tight range as markets await the US Federal Reserve’s (Fed) policy decision on Wednesday. Investors widely expect the central bank to keep its policy rate unchanged in the 4.25%-4.50% range for the third consecutive meeting, despite rising economic uncertainties.
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Dow Jones Industrial Average holds steady ahead of Fed rate call
The Dow Jones Industrial Average (DJIA) trimmed into the midrange during early Wednesday trading, treading water just above the 41,000 major handle as investors await the latest rate call from the Federal Reserve (Fed).
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FINOM Tops $200 Million in Funding With New General Catalyst Deal
The Dutch
banking provider Finom has secured $105 million (€92 million) in growth funding
from General Catalyst’s Customer Value Fund, the company announced today
(Wednesday). The investment will support FINOM’s customer acquisition strategy
across Europe without diluting existing shareholders.
FINOM Raises $105 Million to
Fuel European Expansion
This
funding comes more then a year after
FINOM’s $54 million (€48 million) Series B round in February 2024, which
was co-led by General Catalyst and Northzone. The Amsterdam-based fintech has
now raised approximately $200 million since its 2020 launch.
Unlike
conventional growth equity, General Catalyst’s Customer Value Fund takes on
downside risk, allowing FINOM to finance customer acquisition efforts while
preserving equity and autonomy.
“Having
General Catalyst as our partner is a huge win for FINOM,” said Kos
Stiskin, FINOM’s Chairman
and Co-Founder. “They understand our business deeply and are funding
growth in a way that preserves our equity. With their support, we can
aggressively expand across Europe.”
100K
Clients and Higher Revenue
General
Catalyst has been involved with FINOM since its founding. “With strong
growth, impressive customer retention, and support from the CVF round, we
believe FINOM is well-positioned to push ahead with ambitious expansion plans
across Europe,” said Zeynep Yavuz, Partner at General Catalyst.
The fintech
platform currently serves over 100,000 small and medium-sized businesses across
Germany, France, Spain, the Netherlands, and Italy. FINOM has introduced local
IBAN accounts in several key European markets and reports positive unit
economics across all territories.
Despite
challenging macroeconomic conditions, FINOM doubled its revenue in 2024 and
projects similar growth for 2025. The company plans to use the new funding to
enter additional EU markets and enhance localization efforts, with a goal of
achieving full Eurozone coverage by the end of the year.
FINOM’s
platform offers European SMEs and entrepreneurs digital banking, payments,
invoicing, and expense tracking solutions through a streamlined interface. The
company operates under an Electronic Money Institution license valid throughout
Europe.
Fintech Investment Slumps
to Seven-Year Low
While FINOM
managed to secure additional capital for another consecutive year, broader
fintech investment trends paint a less optimistic picture. Global fintech
funding dropped to $95.6 billion across 4,639 deals in 2024—its
lowest level since 2017, according to KPMG’s Pulse of Fintech report. The
decline reflects continued investor caution amid global economic uncertainty
and geopolitical tensions.
Investment
levels steadily decreased over the year, falling from $51.7 billion in the
first half to $43.9 billion in the second. However, the fourth quarter brought
a modest recovery, with funding rising to $25.9 billion from $18 billion in the
previous quarter, hinting at a potential shift toward market stabilization.
Regionally,
the Americas led global fintech activity, accounting for $63.8 billion across
2,267 deals. The United States was responsible for $50.7 billion of that total.
Europe, the Middle East and Africa (EMEA) followed with $20.3 billion over
1,465 transactions, while Asia-Pacific (APAC) posted $11.4 billion across 896
deals.
This article was written by Damian Chmiel at www.financemagnates.com.
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WSJ: Tariffs could lift laptop and phone prices by some 30%
The WSJ is reporting that tariffs could lift laptop and phone prices by some 30% according to some forecasts.
I don’t know…. Rising prices by 30% is still a threat to cost-push inflationinfluences. The line that inflation from tariffs will only be a one time price increase may not be that.
This article was written by Greg Michalowski at www.forexlive.com.
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European major indices closing lower on the day
The major European indices are shutting down for the day, and closing lower for the day. A snapshot of the markets currently shows:
- German DAX, -0.57%.
- Frances CAC, -0.98%
- UK’s FTSE 100, -0.53%
- Spain’s Ibex, -0.37%
- Italy’s FTSE MIB, -0.46%.
The Euro Stoxx index is down -0.50%.
As European traders had for the exits, US indices are mixed:
- Dow industrial average +203 points or 0.50% at 41034.57
- S&P index unchanged at 5607
- NASDAQ index -75.90 points or 0.43% at 17612.99.
US yields are mixed ahead of the FOMC rate decision at 2 PM ET:
- 2 year yield 3.805%, +1.6 basis points
- 5-year yield 3.892%, -0.5 basis points
- 10 year yield 4.288%, -2.9 basis points
- 30 year yield 4.773%, -3.9 basis points.
This article was written by Greg Michalowski at www.forexlive.com.
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Apple VP of services: Apple is exploring adding AI to search browser
Apple VP of services Eddie Cue is saying that Apple is exploring adding AI to search browsers. The comments seem to have turned the stock market. The NASDAQ is now down around -59 points or -0.33% at 17631. The S&P is also dipping into negative territory..
Shares of Google have been impacted by the announcement. It’s shares are down -$7.61 or -4.5% to $156.00. Microsoft shares are down -1 dollar or -0.25% to $432.65.
Apple pays Google a fee every time a user clicks on Google. Hence the decline in Google shares.
This article was written by Greg Michalowski at www.forexlive.com.
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US Treasury Secretary Bessent: China trade talks to begin Saturday
United States (US) Treasury Secretary Scott Bessent reaffirmed that US-China trade talks will begin on neutral ground when delegates from the two countries meet in Switzerland this weekend.
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NZD/USD corrects below 0.6000 ahead of Fed’s monetary policy
The NZD/USD pair retraces to near 0.5980 during North American trading hours on Wednesday after revisiting the six-month high of 0.6025 earlier in the day.
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