After a nine-month pause, the US Federal Reserve is expected to resume its cycle of interest rate cuts this week. The big question is how far will it go? US President Trump has already made it clear that he wants to see cuts to a key interest rate of around 1% (from the current 4.25-4.50%), and probably as quickly as possible. Given the risk of stagflation in the wake of US tariffs, such a sharp easing of monetary policy would be disastrous for the US Dollar (USD), Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes. Trump wants the Fed to help the Treasury finance the...
Oil surged as much as 13% after Israel carried out waves of military strikes against Iran, raising fears of a wider war in a region that accounts for a third of global crude production. Brent topped $78 a barrel in the biggest intraday gain since March 2022, following Russia's invasion of Ukraine. Gold was a beneficiary as investors flocked to havens , rising as much as 1.7% near a record. Israeli Prime Minister Benjamin Netanyahu said the attacks targeted Tehran's nuclear program and military, and would last until the threat was removed....
Gold prices climbed on Friday to their highest point in more than a month, on track for a weekly gain, as investors sought safe-haven assets after Israel's strike on Iran heightened Middle East tensions. Spot gold was up 1.3% at $3,428.28 an ounce, as of 0134 GMT, after hitting its highest level since May 7 earlier in the session. Bullion has gained more than 3.5% so far this week. Geopolitical tensions escalated after Israel struck Iran as tensions mounted over U.S. efforts to halt Iran's production of atomic bomb materials. "This latest spike in hostilities in the Middle East has taken...
The Australian Dollar (AUD) declines against the US Dollar (USD) on Friday, with over 1% losses. The AUD/USD pair depreciates due to escalating tensions in the Middle East. Israeli Minister of Defense Israel Katz warned his country to face a missile and drone attack following Israel's preemptive attack on Iran. Katz declared a special state of emergency in the country, per Axios. Israeli military officials said that Israel attacked dozens of sites across Iran, as the Iranian nuclear program is an existential threat to Israel. Reuters reported that US President Donald Trump expanded steel...
Oil surged following reports of an Israeli airstrike in Iran, heightening tensions in the region that accounts for a third of global crude production. Brent rose as much as 5.7%, jumping above $73 a barrel, while West Texas Intermediate also rallied. The Israeli Air Force conducted a strike in Iran on Thursday, Axios reported, citing two unidentified people with knowledge of the operation. Earlier, US President Donald Trump said Israel "could very well" strike Tehran. President Donald Trump said Israel "could very well" strike Iran but that he had advised against an attack while...
Gold rose a third day on reports that Israel struck targets in Iran. Bullion jumped as much as 0.8% — after gaining 0.9% on Thursday. The Israeli Air Force conducted a strike in Iran on Thursday, Axios reported, citing two unidentified people with knowledge of the operation. Spot gold traded at $3,406.61 an ounce as of 8:12 a.m. in Singapore. The Bloomberg Dollar Spot Index was down 0.1%. Silver, platinum and palladium also advanced. Source : Bloomberg
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...