The U.S. central bank, to President Donald Trump's chagrin, will likely leave interest rates unchanged at a policy meeting this week, but that's not to say there won't be a vigorous debate, with one if not two Federal Reserve governors possibly casting a rare dissent in support of lower borrowing costs. The majority of Fed policymakers, though, remain concerned that Trump's tariffs could undo progress on bringing inflation back to the central bank's 2% goal, outweighing for now worries about the labor market. The trade deal struck between the U.S. and Japan last week, with tariffs set at...
Gold futures rose on Wednesday morning as the dollar and yields fell after a report showed U.S. inflation eased last month. Gold for August delivery was last seen up $16.40 at $3,359.80 an ounce. The U.S. Bureau of Labor Statistics reported the Consumer Price Index rose 0.1% in May from April, down from a 0.2% pace in the previous month and below the consensus estimate for a 0.2% increase, according to Marketwatch. Core CPI, which excludes volatile food and energy costs, rose 0.1% on a month-over-month basis, down from 0.2% in April, while the consensus estimate was for a 0.3%...
The US Dollar Index fell to 98.7, near a three-year low of 98.0 last seen in April, after weaker-than-expected inflation data dampened market sentiment. US consumer prices rose 2.4% year-on-year in May, up from 2.3% in April but slightly below market consensus of 2.5%. Energy prices have fallen 3.5% over the past year, while food prices rose 2.9%. Core inflation—which excludes food and energy—held steady at 2.8%, slightly below forecasts of 2.9%. Despite the weaker data, inflation remains above the Federal Reserve's 2.0% target, reinforcing expectations that policymakers are unlikely to...
The USD/JPY pair trades in a calm manner around 145.00 during European trading hours on Wednesday (6/11). The pair is oscillating in a tight range, as investors await the US Consumer Price Index (CPI) data for May, which will be published at 12:30 GMT. Ahead of the US inflation data, the US Dollar Index (DXY) is fluctuating around 99.00. Investors will be watching the US inflation data as it will influence market expectations on the Federal Reserve's (Fed) monetary policy outlook. As measured by the CPI, headline inflation is expected to grow at a faster pace of 2.5% annually, compared to...
Gold prices rose on Wednesday as investors remained cautious as uncertainty over a US-China trade truce lingered ahead of key inflation data that could provide clues on the Federal Reserve's next policy move. Spot gold was up 0.7% at $3,344.93 an ounce, by 0808 GMT. US gold futures were up 0.7% at $3,366.40. US and Chinese officials said on Tuesday they had agreed on a framework to get their trade truce back on track and remove restrictions on China's rare earth exports. However, the talks have provided little sign of a lasting resolution to long-running trade differences. In April, the...
USD/CHF offered the latest gains recorded in the previous session, trading around 0.8220 during European hours on Wednesday (6/11). However, the pair may regain some ground as the Swiss Franc (CHF) may weaken on weaker haven demand, driven by improved risk sentiment amid easing tariff tensions between the United States (US) and China. US Commerce Secretary Howard Lutnick suggested, on Tuesday, a potential resolution with China, noting that the two countries have reached a framework to implement the Geneva Consensus. Meanwhile, Chinese Vice Commerce Minister Li Chenggang said that 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.
It...
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...
The United States and European Union have reached a landmark trade agreement that includes a 15% tariff on EU goods entering the U.S., President Donald Trump announced Sunday while in Scotland.
The...