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 edges higher in early Asian trade amid lingering geopolitical tensions that typically enhance the safe-haven allure of the precious metal. Russia launched a missile-and-drone attack on Ukraine at the end of last week, killing at least three people in Kyiv and igniting fires across the capital. "Gold has been showing strength for some time now," Commerzbank Research's Barbara Lambrecht says in a recent research report. The commodity analyst cites drivers including the threat of escalation of the Russia-Ukraine conflict. Spot gold is 0.1% higher at $3,313.90/oz. Source : Dow Jones...
WTI crude oil futures climbed 1.9% to settle at $64.60 per barrel on Friday, marking their first weekly gain in three weeks with a rise of over 6.5%. The rebound was fueled by renewed optimism after trade talks resumed between US President Donald Trump and China's President Xi Jinping, raising hopes for stronger global demand. Sentiment was further lifted by news that Canada had also entered direct trade discussions with the US. Despite the gains, the oil market remains volatile amid geopolitical tensions, including the potential for increased US sanctions on Venezuela and the risk of...
Gold prices slipped more than 1% on Friday after a stronger-than-expected U.S. jobs report dampened hopes for imminent Federal Reserve rate cuts this year, while silver soared to its highest level since 2012. Spot gold fell 1.1% to $3,316.13 an ounce, as of 02:28 p.m. ET (1828 GMT), but rose 0.8% for the week so far. U.S. gold futures settled 0.8% lower at $3,346.60. A U.S. Labor Department report showed non-farm payrolls increased 139,000 in May, compared with estimates for a rise of 130,000, according to economists polled by Reuters. The unemployment rate stood at 4.2%, in line with...
Gold firmed on Friday and was poised for a weekly rise after U.S. data this week boosted hopes of interest rate cuts by the Federal Reserve, while silver hit a more than 13-year high. Spot gold was up 0.28% at $3,360.60 an ounce. Bullion has gained 2% for the week so far. U.S. gold futures climbed 0.29% to $3,384.87. "The disappointing jobless claims data, indicating potential labour market weakness, has had a more substantial impact on gold prices than the optimism stemming from President Trump's call with President Xi," said Alexander Zumpfe, a precious metals trader at Heraeus Metals...
The dollar rose versus all Group-of-10 currencies as traders trim exposure and await US non-farm payrolls data for fresh insights into the health of the world's largest economy. The Bloomberg Dollar Spot Index rises 0.2% and is down 0.5% on a weekly basis; data later on Friday is likely to show that US hiring moderated further in May, which could weigh on the greenback given higher FX sensitivity to data releases lately. EUR/USD drops 0.3% to 1.1411, erases Thursday's advance; it's up 0.6% this week. The ECB should take a break from lowering...
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...