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 the early Asian session amid weak U.S. economic data and signs of easing U.S.-China tensions. Thursday's data, showing rising jobless claims and a sharp decline in imports, raised the prospect of slowing economic growth. Meanwhile, President Trump said his conversation with Chinese leader Xi Jinping was productive and both sides agreed to meet soon. Investors could remain cautious ahead of tonight's U.S. nonfarm payrolls report, Kudotrade's Konstantinos Chrysikos says. "A strong reading could challenge the current rate-cut narrative and weigh on gold, while any...
EUR/USD held onto earlier gains of more than 0.20% after the European Central Bank (ECB) made headlines, cutting interest rates but leaving open the possibility of a pause at its upcoming July 24 meeting. At the time of writing, the pair was trading at 1.1441 after bouncing off a daily low of 1.1404. The ECB decided to cut interest rates to 2%, as expected by market participants, although it had left open the possibility of a pause. The decision was not unanimous, with one dissenter, most likely Robert Holzmann, who, ahead of the meeting, had favored a cut after the June or July...
Oil prices rose on Thursday, recovering from the previous day's decline, on news that the US and China agreed to further trade talks after a phone call between US President Donald Trump and Chinese leader Xi Jinping. Brent crude futures were up 48 cents, or 0.7%, at $65.34 a barrel. US West Texas Intermediate crude futures were up 52 cents, or 0.8%, at $63.37 a barrel. "If we move away from the brink of a major trade war, that would raise expectations for oil demand both in the US and China," said Phil Flynn, senior analyst at Price Futures Group. The official Xinhua news agency reported...
Gold prices pared earlier gains after the latest news revealed that the phone call between US President Donald Trump and his Chinese counterpart, Xi Jinping, was positive, with the two mainly discussing trade, according to Trump. At the time of writing, XAU/USD was trading at $3,350, down 0.72%. Trump took to his social media to say that the call was positive, adding, "There should be no more questions about the complexity of the Rare Earth product." He said that the US and Chinese teams will meet at a location to be determined. The news sent bullion prices lower, as risk appetite improved...
Gold prices held firm on Thursday (05/06), supported by easing geopolitical tensions, dovish central bank signals and continued weakness in US labor market data, factors that continued to boost demand for safe-haven assets. After testing the key psychological level of $3,400 during the European session, prices eased slightly but remained elevated as markets digested positive developments. US President Donald Trump announced via Truth Social that he had a productive and positive 90-minute phone call with Chinese President Xi Jinping, where they discussed details of a recently concluded trade...
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...