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...
The USD/CHF pair remained pressured for the second straight day and dropped to its lowest level in over a week during the Asian session on Tuesday (6/24) amid a weaker US Dollar (USD). However, the spot prices lacked any follow-through selling and managed to hold above the 0.8100 mark. Traders increased their bets for a potential interest rate cut by the Federal Reserve (Fed) in July following the release of mixed US PMIs and dovish-sounding remarks from influential FOMC members on Monday. Moreover, optimism led by US President Donald Trump's announcement that Israel and Iran have agreed to...
The GBP/USD pair gained traction around 1.3560 during the early European session on Tuesday, supported by a weaker US Dollar (USD). Traders will be eyeing Bank of England (BoE) Governor Bailey's speech, along with Federal Reserve (Fed) Chairman Jerome Powell's semi-annual testimony later on Tuesday. Federal Reserve (Fed) Governor Michelle Bowman said on Monday that she would support a rate cut at the next policy meeting in July as long as inflationary pressures remain contained. Bowman's comments echoed those of Fed Governor Christopher Waller, who said on Friday that he believes the US...
The Australian dollar (AUD) strengthened against the US dollar (USD) on Tuesday (6/24), extending its gains for the second straight session. The AUD/USD pair strengthened after US President Donald Trump said a ceasefire had been agreed between Iran and Israel. Trump said that a "complete and total" ceasefire between Israel and Iran would be in place to end the conflict between the two countries. Iran fired missiles at Al Udeid Air Base in Qatar on Monday. Qatari officials said the missiles were intercepted and the base had been evacuated in advance. Trump announced Saturday night that he...
Silver (XAG/USD) prices pared intraday losses, trading around $36.10 per troy ounce during Asian hours on Tuesday (6/24). Precious metals prices, including Silver, depreciated as a ceasefire agreement between Israel and Iran reduced demand for safe havens. President Trump said on Monday that a "complete and total" ceasefire between Israel and Iran would go into effect to end the conflict between the two countries. He also added that Iran would begin the ceasefire immediately, followed by Israel after 12 hours. Trump's comments came shortly after Iran fired missiles at the Al Udeid Air Base...
Oil prices plunged on Tuesday to their lowest in more than a week as U.S. President Donald Trump said a ceasefire had been agreed between Iran and Israel, easing concerns about supply disruptions in the region. Brent crude futures fell $2.69, or 3.76%, to $68.79 a barrel by 0006 GMT, after falling more than 4% earlier in the session and hitting their lowest since June 11. U.S. West Texas Intermediate crude fell $2.7, or 3.94%, to $65.46 a barrel, after hitting its weakest since June 9 earlier in the session and dropping about 6%. Trump announced on Monday that Israel and Iran had fully...
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...