Jerome Powell Attends Supreme Court Hearing on Trump Effort to Fire Fed Governor, Calling It Historic 
MAS Holds Monetary Policy Steady as Strong Growth Raises Inflation Risks 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Bank of England Expected to Hold Interest Rates at 3.75% as Inflation Remains Elevated 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
ECB’s Cipollone Backs Digital Euro as Europe Pushes for Payment System Independence 
BOJ Rate Decision in Focus as Yen Weakness and Inflation Shape Market Outlook 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Bank of Japan Signals Cautious Path Toward Further Rate Hikes Amid Yen Weakness 
Bank of Canada Holds Interest Rate at 2.25% Amid Trade and Global Uncertainty 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Market should listen!
Several policymakers in past several days, weeks have warned about June meeting being alive and there could be two or three rate hikes on the table. Names include, Boston FED chief Rosengren, Kansas city FED Chief Esther George, San Francisco FED President Williams and Atlanta city FED supreme Lockhart. Now Bill Dudley, President of New York city FED, and a permanent voting member in FOMC joined these relative hawks in tabling the summer hikes.
Like his colleagues, Mr. Dudley felt too that market is over pessimistic in their hike expectations. While the members are warning two or three hikes, Market is still pricing one and that in July and marginally. He expects second quarter to be stronger compared to first one, which will be sufficient for FED to hike in summer.
However, he maintained Federal Reserve’s official position that any hike will be data dependent and in regard to that policymakers will have to gauge the impact of British referendum over financial markets and economy over the coming weeks.
Dollar index is currently trading at 95.3, up 0.02% so far today.
