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 dollar fell on Tuesday while the Australian and New Zealand dollars rose after U.S. President Donald Trump announced a ceasefire between Israel and Iran, in news that cheered investors and sparked a risk rally across markets. Trump said a "complete and total" ceasefire between Israel and Iran would go into effect with the aim of ending the 12-day conflict between the two countries, moments after both sides threatened new attacks. An Iranian and Qatari official confirmed that Tehran had agreed to the ceasefire, while Israel's Channel 12 reported that Prime Minister Benjamin Netanyahu...
Gold fell as safe-haven demand waned after U.S. President Donald Trump announced that Israel and Iran had agreed to a ceasefire that would begin around midnight Monday in Washington. Bullion fell as much as 0.6% to below $3,350 an ounce in early Asian trade. Trump, who made the surprise announcement on his Truth Social platform days after ordering airstrikes on Iran's nuclear facilities, said the deal was aimed at ending the fighting permanently. There was no immediate comment from Iran or Israel. Rising safe-haven demand as geopolitical tensions escalate has been one of the main catalysts...
The Euro (EUR) advances against the US Dollar (USD) on Monday, despite the market mood remaining downbeat amid the Middle East crisis. Worse than expected HCOB Flash PMIs in the Eurozone barely weighed in the shared currency, while German PMIs showed a slight improvement, though they remained in contractionary territory. At the time of writing, EUR/USD trades at 1.1567, up 0.40%. Geopolitics are the primary driver on Monday, as we head into the latest trading week in June. Last Saturday, the US delivered an attack on the three most critical nuclear facilities in Iran, following failed...
Gold prices remain bid during the North American session as breaking news revealed Iran's attack on US bases in Qatar, in retaliation for the over-the-weekend attack on Iran's nuclear installations by the White House. Meanwhile, US economic data was overlooked mainly as geopolitical tensions in the Middle East intensified. At the time of writing, XAU/USD trades at $3,385, up 0.39%. Macroeconomic data has been pushed aside as geopolitics grabs most headlines. Iran reported the launch of missiles at US bases in Qatar, Kuwait and Iraq, according to Al Arabiya, citing Israeli media. Alongside...
Oil prices fell 1% on Monday after touching a five-month high as markets tried to gauge the impact on transit of oil and gas via the Strait of Hormuz after U.S. airstrikes against Iran at the weekend. Brent crude futures were down 70 cents, or 0.9%, at $76.31 a barrel by 10:46 a.m. ET (1446 GMT). U.S. West Texas Intermediate crude (WTI) fell 76 cents, or 1%, to $73.09. Earlier in the session, Brent and WTI touched five-month highs of $81.40 and $78.40 respectively, before seesawing between positive and negative territory throughout the European trading session. U.S. President Donald Trump...
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...