The Federal Reserve Building stands in Washington April 3, 2012. REUTERS/Joshua Roberts/File Photo Purchase Licensing Rights

Shares gain, oil slips as Fed readies rate cuts

by Tom Wilson and Tom Westbrook.August 22, 2024 3:21 PM GMT+73
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LONDON/SINGAPORE, Aug 22 (Reuters) - European stocks ticked higher, oil fell for a fifth straight day and the dollar remained subdued on Thursday after Federal Reserve minutes signalled U.S. interest rate cuts were set to begin in a few weeks' time.
The minutes said the "vast majority" of policymakers felt that, if data came in as expected, a September cut was likely to be appropriate - validating market expectations. Stocks, after a phenomenal rebound from early-month lows plumbed after a bout of volatility, strove for gains.

"The relationship between Bitcoin (BTC) and the EUR/USD pair has evolved over recent years. Above, you can see the Bitcoin/USD and EUR/USD charts from 2017 to 2024. It shows both Bitcoin and the Euro demonstrating resilience against the US Dollar at key support levels.

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