The Federal Reserve is expected to deliver its first interest-rate cut this year at its September 16-17 meeting, as it moves to counter a cooling labor market even as inflation remains above target. The anticipated quarter-point reduction may not satisfy President Donald Trump, who wants a bigger cut and has named his White House economic advisor, Stephen Miran, in time to be on the Fed Board at the September meeting, pending Senate confirmation. Here is a look at Fed officials' comments since their last policy meeting, sorting them under the labels "dove" and "hawk" as shorthand for their...
Gold prices rose more than 1% on Tuesday as investors sought safe-haven assets after US President Donald Trump's "big, beautiful bill" passed the Senate, ahead of a July 9 trade tariff deadline. Spot gold rose 1.1% to $3,338.24 an ounce, as of 2:25 p.m. EDT (1825 GMT), its highest since June 24. US gold futures settled 1.3% higher at $3,349.8. The Republican-controlled US Senate voted on Tuesday to pass a sweeping tax-cut and spending bill demanded by Trump, which would slash some social service programs. "The budget bill that passed is encouraging as it looks to contribute to a $3...
Oil prices edged higher on Tuesday as investors weighed positive demand indicators while also remaining cautious ahead of an OPEC+ meeting to decide the group's output policy in August. Brent crude rose 18 cents, or 0.3%, to $66.92 a barrel by 11:36 a.m. ET (1536 GMT), while U.S. West Texas Intermediate crude rose 27 cents, or about 0.4%, to $65.38 a barrel. The gains were likely driven by supportive data from a private sector survey in China, which showed factory activity picked up again in June, said Randall Rothenberg, risk intelligence strategist at U.S. oil broker Liquidity...
Gold rose for a second day as investors weighed President Donald Trump's tax bill, which is expected to widen the US deficit. Bullion rose as much as 1.7%, paring losses from the past two weeks, while US stocks weakened and the dollar hovered near a three-year low. The US Senate passed a bill that combines $4.5 trillion in tax cuts with $1.2 trillion in spending cuts. The US government's push for a spending bill means that "fiscal risks are likely to come to the fore," analysts at Commerzbank AG said in a note, potentially benefiting bullion's safe-haven appeal. Gold's gains eased...
The US Dollar (USD) continues to face selling pressure, with the US Dollar Index (DXY) dropping as low as 96.38, its weakest level since February 2022, during early trading on Tuesday (01/07). However, the greenback rallied during the American session, with the DXY last seen trading around 96.85, supported by better-than-expected US economic data. A stronger ISM Manufacturing PMI and a strong JOLTS jobs report helped ease some of the bearish momentum, although the overall sentiment remains cautious amid ongoing concerns over US fiscal stability, tariff uncertainty, and increasing political...
The EUR/USD pair keeps marching higher for the tenth consecutive day. The pair is trading with minor gains around the 1.1800 level at the moment of writing on Tuesday, ahead of the Fed Chairman's speech on the central bankers' meeting in Sintra, Portugal and US Manufacturing and Job Openings figures. The common currency appreciated earlier today, fuelled by an unexpected improvement in the Eurozone preliminary HCOB Manufacturing PMI and better-than-expected German Unemployment figures, while June's Consumer Prices Index (CPI) remained fairly steady. The Greenback remains on the defensive,...
President Donald Trump said he would fire Lisa Cook from the Federal Reserve's Board of Governors if she does not resign her post over mortgage-fraud accusations from a top...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...