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 on Monday, supported by a weaker U.S. dollar ahead of U.S.-China trade talks aimed at easing tensions, while platinum extended gains for a sixth straight session to hit a four-year peak. Spot gold was up 0.4% at $3,323.71 an ounce, by 0806 GMT, after dropping earlier in the session to $3,293.29, its lowest since June 2. U.S. gold futures were steady at $3,344.70. The dollar (.DXY), down 0.3% against a basket of major currencies, made bullion cheaper for holders of other currencies. Investors are realizing that gold's key drivers, such as trade and geopolitical tensions,...
Silver (XAG/USD) prices extended their gains for the third straight session, hitting a fresh 13-year high of $36.42 per troy ounce on Monday (09/06). The grey metal gained on rising demand for safe-haven assets amid concerns over global economic and trade uncertainties. Non-yielding assets, including Silver, may have found support after Citigroup released its forecasts on Monday, which predicted the Fed would cut interest rates by 25 basis points each in September, October, and December. The firm also predicted the central bank would cut rates by 25 basis points each in January and March...
Oil prices dipped a few cents on Monday but held onto most of last week's gains as investors watched for U.S.-China trade talks in London later in the day supported by some hopes a deal could boost the global economic outlook and fuel demand. Brent crude futures slipped 6 cents to $66.41 a barrel by 0450 GMT. U.S. West Texas Intermediate crude fell 4 cents to $64.54. The prospect of a U.S.-China trade deal have boosted some investors' risk appetite and supported oil prices as three of Donald Trump's top aides were set to meet with counterparts in the first meeting of the U.S.-China...
The Australian Dollar (AUD) edges higher against the US Dollar on Monday, recovering its losses from the previous session. The AUD/USD pair remains stronger following the release of China's key economic data. Any economic update from China could impact AUD as China and Australia are close trade partners. The National Bureau of Statistics of China reported that the Consumer Price Index (CPI) dropped at an annual pace of 0.1% in May, following April's 0.1% decline. However, the market consensus was for a 0.2% decrease in the reported period. Meanwhile, China's CPI inflation declined by 0.2%...
Gold prices edged down on Monday as optimism over possible easing of U.S.-China trade tensions dampened bullion demand, while an outsized U.S. jobs report tempered expectations of interest rate cuts by the Federal Reserve. Spot gold edged 0.1% lower to $3,310.68 an ounce, as of 0400 GMT. U.S. gold futures lost 0.5% to $3,330.10. Three top aides of U.S. President Donald Trump will meet with their Chinese counterparts in London later in the day to discuss the trade disputes between the two economies, a standoff that has kept global markets on edge. "Short-term traders do not want to take...
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...