US President Donald Trump seized the opportunity to lash out at Federal Reserve Chairman Jerome Powell on Tuesday during a meeting with Philippine President Bongbong Marcos. After spending weeks normalizing the White House by publicly criticizing the Fed and attempting to undermine the US central bank's political autonomy, President Trump is working hard to justify his efforts to circumvent US laws that prevent him from having a say in who runs the Fed and what they do. Donald Trump nominated Jerome Powell to take over the Fed's top job in 2018 and has been very vocal about his displeasure...
Gold extended its recent decline to around $3,360 per ounce on Thursday, as a cautious outlook on US interest rates weighed on the appeal of the non-yielding asset. The Federal Reserve held its benchmark rate steady as expected and warned of rising risks of both inflation and unemployment, reinforcing its cautious stance on future rate changes. Fed Chair Jerome Powell also stated that the central bank is not considering a preemptive rate cut in response to potential economic fallout from tariffs. Meanwhile, uncertainty surrounding US-China trade talks helped limit further losses. President...
Oil prices rose on Thursday after falling more than $1 in the previous session, supported by hopes for a breakthrough in upcoming trade talks between the US and China, the world's two largest oil consumers. Brent crude futures rose 51 cents, or 0.8%, to $61.63 a barrel, while U.S. West Texas Intermediate crude futures rose 57 cents, or 1%, to $58.64 a barrel by 0420 GMT. "Optimism surrounding the US-China trade talks later this week is a major factor supporting the oil market recovery," said independent market analyst Tina Teng. "Signs of an easing trade war have boosted market sentiment,...
Silver prices rose more than 1% to near $33 an ounce on Thursday (08/05), recovering losses from the previous session as investors sought refuge in safe-haven assets amid ongoing economic and trade uncertainty. The recovery followed the Federal Reserve's decision on Wednesday to keep interest rates steady, as expected. However, Chairman Jerome Powell was cautious, highlighting rising risks to inflation and employment, and downplaying the possibility of a preemptive rate cut to mitigate the potential economic impact of new tariffs. On the trade front, President Donald Trump announced via...
EUR/USD held its mid-point on Wednesday, holding near the 1.1300 level after the Federal Reserve's (Fed) latest interest rate announcement came in line with traders' expectations, albeit with a fresh set of "wait and see" warnings from Fed Chair Jerome Powell. The economic calendar on the European side remains mid-level this week, leaving Fiber traders to sit back and digest the increasingly cautious Fed. Fed's Powell: The right thing to do is to wait for more clarity The Fed's recent interest rate announcement highlighted that while US employment and economic activity remain strong,...
The AUD/USD pair moved higher in Asia on Thursday (08/05), trading around 0.6440 after falling more than 1% in the previous session. The pair had previously touched a five-month high of 0.6514 on Wednesday, but fell amid the prospect of cautious Federal Reserve (Fed) policy. As expected, the Fed kept interest rates unchanged at 4.25%–4.50%, but its statement acknowledged rising risks related to inflation and unemployment, which added new uncertainty to the market. Market sentiment was further hit after Fed Chairman Jerome Powell's press conference, where he noted that US trade tariffs could...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
Indonesia's sovereign wealth fund, Danantara, plans to sign a USD 8 billion engineering, procurement, and construction (EPC) contract with US engineering firm KBR Inc. to build 17 modular...