It's been a very boring session with no data or important news releases. Understandably, the price action has been rangebound throughout the session as markets await US labour market data to influence interest rates expectations.
Today's main news was Trump's attempt at firing Fed Governor Cook, although he has no authority to do that. This is the usual Trump-Fed noise that the markets learnt to ignore.
I don't know anything about laws in this particular case but reading opinions from experts it looks like Trump is not going anywhere with Cook. First, the alleged fraud happened before her nomination and it would therefore disqualify her from being fired "for cause". Second, the Supreme Court back in May (if I recall correctly) already said that the President's authority to fire the Fed Chair or Governors is limited.
This morning, Fed's Cook said that Trump has no authority to fire her and she won't quit. I would personally ignore this latest attempt to fire a Governor and focus on what really matters: US labour market data ahead of the crucial NFP report next week. That's what's going to influence interest rates expectations and move the markets.
This article was written by Giuseppe Dellamotta at investinglive.com.Hence then, the article about investinglive european fx news wrap lack of catalysts keeps markets rangebound was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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