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 Silver (XAG/USD) price trades in positive territory around $36.00 during the Asian session on Monday. The white metal edges higher despite the stronger-than-expected US employment data for May. Later on Monday, investors will closely watch the developments surrounding US-China trade talks. Geopolitical and economic uncertainty could provide some support to the Silver price as investors seek more holdings in safe-haven assets. US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer are set to speak with Chinese officials about...
The Japanese yen appreciated past 144.5 per US dollar on Monday, rebounding after two consecutive days of losses, as revised data showed the country's first-quarter GDP was flat—an improvement from the previously estimated 0.2% contraction. Despite the upward revision, the result still reflects a sharp deceleration from the 0.6% growth recorded in the prior quarter. Separately, Japan's current account surplus narrowed in April and fell short of market expectations, adding a mixed note to the economic outlook. Last week, Bank of Japan Governor Kazuo Ueda reaffirmed the central bank's...
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. 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% MoM, against April's 0.1% increase. China's Producer Price Index (PPI) continues to weaken with...
The US dollar index edged lower to around 99 on Monday, trimming gains from the previous session as investors braced for a busy week of key economic data and trade developments. Sentiment was influenced by renewed hopes for progress in US-China trade relations as President Donald Trump announced that officials from both countries would meet in London later today, following a recent phone call with Chinese President Xi Jinping. On the data front, markets are awaiting several major economic releases. The Consumer Price Index is due Wednesday, followed by the Producer Price Index and the...
Oil prices held on to last week's gains early on Monday as investors waited for U.S.-China trade talks to be held in London later in the day. Brent crude futures were flat at $66.47 a barrel at 0008 GMT. U.S. West Texas Intermediate crude was trading up 1 cent at $64.59. The prospect of a U.S.-China trade deal supported prices as three of Donald Trump's top aides were set to meet with counterparts in London on Monday for the first meeting of the U.S.-China economic and trade consultation mechanism. The announcement on Saturday followed a rare Thursday call between the two countries' top...
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...