President Donald Trump locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday, criticizing the cost of renovating two historical buildings at its headquarters and pressing the case for lower interest rates. Trump, who called Powell a "numbskull" earlier this week for failing to heed the White House's demand for a large reduction in borrowing costs, wrapped up his visit to the Fed's $2.5 billion building project in Washington by saying he did not intend to fire Powell, as he has frequently suggested he would. "To do so is...
Gold is edging lower in early European trade as markets exercise caution ahead of a busy week between the U.S. presidential election and the Federal Reserve's monetary policy decision. Futures trade 0.2% lower at $2,743.00 a troy ounce, but are still up nearly 3% on the month and more than 30% year-to-date. Uncertainty around the election outcome--with the latest opinion polls showing a neck-and-neck race between Vice President Harris and former President Trump--has stoked demand for the safe-haven asset in recent days. Meanwhile, traders expect the Fed to cut rates by 25 basis points,...
Oil advanced after OPEC+ agreed to push back its December production increase by one month and tensions escalated again in the Middle East. Brent rose as much as 2.5% to more than $74 a barrel, while West Texas Intermediate climbed above $71. Saudi Arabia and its allies delayed a series of monthly output hikes until early next year, a move anticipated by many traders amid fragile market conditions. Meanwhile, Iran escalated its rhetoric against Israel with supreme leader Ayatollah Ali Khamenei warning of a "crushing response" in a speech on Saturday. The Wall...
The rise in silver prices could be attributed to a weaker US Dollar (USD) amid lower Treasury yields. A weaker dollar generally boosts demand for dollar-denominated commodities like silver, making it more attractive to buyers using other currencies. The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of six major currencies, was trading around 103.80 with the 2-year and 10-year US Treasury yields at 4.17% and 4.31%, respectively, at the time of writing. Silver prices may remain volatile as traders also brace for the upcoming monetary policy decision from...
EUR/USD surged around the key resistance of 1.0900 during the European session on Monday. The major currency pair surged as the US dollar (USD) slumped amid rising uncertainty ahead of the US presidential election on Tuesday and the Federal Reserve's (Fed) monetary policy meeting on Thursday. The US dollar started the week on a bearish note, with the US Dollar Index (DXY) falling below 103.70 as market participants expected a tight race between former President Donald Trump and current Vice President Kamala Harris. The sharp sell-off in the US dollar came after the release of the Des...
The dollar slipped in Asia on Monday as investors braced for a potential pivot this week for the global economy as the United States chooses a new leader, and as it likely cuts interest rates again with major implications for bond yields. The euro rose 0.4% to $1.0884 but faces resistance around $1.0905, while the dollar fell 0.7% on the yen to 151.81 yen . The dollar index eased 0.1% to 103.79. Treasury futures rallied 10 ticks, recovering some of the losses suffered on Friday. Democratic candidate Kamala Harris and Republican Donald Trump remain virtually tied in opinion polls and the...
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...
President Donald Trump locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday, criticizing the cost of renovating two historical...