The decision drew a dissent from Fed Governor Michelle Bowman, who wanted just a quarter-point cut
The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 68,490
In emerging markets, the Fed's half percentage point cut offers reduced pressure on exchange rates
A half-percentage-point cut - now given more than a 60% probability in rate futures markets - would signal a commitment to sustaining the current economic expansion and the job growth
The probability of a 50-basis-point cut has more than quadrupled to 59% from just 14% last week, with a total of 119 bps in cuts now expected in 2024
The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 66,690
Stocks to watch on August 26: GQG Partners Emerging Markets Equity Fund purchased a 0.69 per cent stake in Ambuja Cement via a bulk deal
Nifty rises 0.75% to reclaim 25,000
Most Asian currencies also gained, aided by broad-based weakness in the greenback, as market participants positioned for the start of interest rate cuts in the United States
The yield on the benchmark 10-year government bond is expected to open around 4 basis points lower on Monday. It had settled at 6.86 per cent on Friday
Swaps traders held roughly steady in their pricing, with the total rate cuts they foresee through the end of 2024 at about 102 basis points
Powell instead could provide some background for the public and markets to understand how the Fed will respond as the economy evolves
Bouts of Japanese interventions and the interest rate hike in July tripped up investors who unwound the popular carry trade, in which traders borrowed yen to finance high-yielding assets
The rupee has been a laggard in Asia, not benefitting from the increased confidence of the Fed cutting rates at each of the remaining three meetings this year
The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 66,790
On Friday, Powell will again deliver his most important policy speech of the year from that closely watched stage
The hotly anticipated speech at the Fed's annual gathering in Jackson Hole, Wyoming, comes at a high stakes moment for the US central bank and the $27 trillion Treasury market
The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 66,590
Investors largely expect Powell to acknowledge the case for a rate cut and will parse his words for cues
Financial markets had a turbulent start to August after a slew of softer-than-expected US economic data