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US President Donald Trump has crossed the wires saying that he is “Very happy with  Fed Chair Powell’s performance”.

He declines to say whether he would pick him for a new term.

“Although the rates implied by federal funds futures contracts settling next year had fallen to slightly negative levels in May, survey respondents attached very little probability to the possibility of negative policy rates,” the FOMC Minutes of June meeting showed on Wednesday.

  • FOMC Minutes: Negative interest rates not an attractive policy tool

Meanwhile, markets are fixated on the price of gold as spot prices shy away from the $1,800 key level.

  • Gold Price Analysis: XAU/USD remains vulnerable to downside extension