Fed Evans favors very gradual policy normalization to ensure inflation goal

FXStreet (Córdoba) - Chicago Fed President Charles Evans said the Fed should hike rates more gradually than what the forecast envision.

He sees inflation slowly reaching 2% within the next 3 years, but he is “less optimistic about the inflation outlook than most of my colleagues”.

Evans stated that rates equal to 1% at the end of 2016 will support the bank’s inflation goal. He said he is a little nervous about relative strength of US dollar.

Oil posts fourth daily loss in a row

Crude oil prices kept falling on Thursday, with West Texas Intermediate crude oil futures hitting an intraday low of $32.08 a barrel. The commodity recovered some ground during the American session on broad dollar's weakness, but ended in the red for a fourth day in a row.
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GBP/CAD ends flat around 2.0600

Closing the day unchanged around 2.0600, the GBP/CAD cross presents a doji candle in the daily chart, with long shadows extending both ways of a non-existent body. Crude oil prices edged lower for one more day, weighing on the Canadian dollar, yet the Pound fell to a fresh 5 ½-year low against the greenback on increasing concerns over a possible Brexit.
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