The Fed will be in the spotlight this week, as markets are now all but certain that the central bank will slash interest rates at the end of its latest two-day gathering on Wednesday. Underpinned by signs of a softening U.S. labor market, policymakers are widely anticipated to back the first rate cut since an easing cycle was paused in December. Bringing down rates can, in theory, help spur investment and hiring. However, a reduction can risk pushing up inflationary pressures at the same time. Last week, a monthly U.S. consumer price index reading accelerated slightly due to an uptick in...
Oil prices hit multi-week highs on Monday, buoyed by a weaker U.S. dollar, while investors awaited news from U.S.-China trade talks in London in hopes a deal could boost the global economic outlook and subsequently fuel demand. Brent crude futures settled 57 cents higher, or 0.9%, to $67.04 a barrel. During the session, the benchmark rose to $67.12 a barrel, the highest since April 28. U.S. West Texas Intermediate crude rose 71 cents, or 1.1%, to $65.29. The contract reached $65.38 a barrel during the session, the highest since April 4. A weaker U.S. dollar gave some support to oil...
Gold prices posted solid gains on Monday as the US Dollar weakened during the North American session despite positive news regarding US-China trade talks. A retracement of US Treasury bond yields underpins the golden metal, which trades at $3,329 a troy ounce at the time of writing. An improvement in risk appetite was not an excuse for Bullion buyers to extend the XAU/USD uptrend despite the reduced demand for safe haven assets. A Wall Street Journal article mentioned that US President Donald Trump granted some flexibility on export controls to US Treasury Secretary Scott Bessent as talks...
The dollar fell against all major currencies on Monday, as cheer over a better-than-expected U.S. jobs report turned to caution ahead of crucial U.S.-China trade talks due in London later in the day. The talks come at a crucial time for both economies, with China grappling with deflation and trade uncertainty sapping sentiment among U.S. businesses and consumers, prompting investors to reassess the dollar's safe-haven status. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer are expected to represent the U.S. at the talks, while...
Oil prices were little changed on Monday as investors awaited US-China trade talks in London in hopes that a deal could improve the global economic outlook and further boost demand. Brent crude futures were up 4 cents at $66.51 a barrel by 0940 GMT while US West Texas Intermediate crude was down 1 cent at $64.57. Brent rose 4% last week and WTI 6.2% as the prospect of a US-China trade deal boosted risk appetite for some investors. US President Trump and Chinese leader Xi Jinping spoke by phone on Thursday before US and Chinese officials meet in London on Monday in a bid to ease trade...
EUR/USD started the week on a fairly positive note on Monday (09/06), following a significant decline on Friday. The currency pair is currently trading at 1.1415, having bottomed at 1.1370 on Friday, supported by a weaker US dollar (USD) and aggressive comments from European Central Bank member Peter Kazimir. The Eurozone economy still faces downside risks, Kazimir said, but inflationary pressures are rising, which according to the ECB official, suggests that the bank is done with monetary easing, "if not at the end of the cycle." In the absence of relevant releases, these comments have...
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...