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 price (XAU/USD) extends its consolidative price move around the $3,350 region through the first half of the European session on Wednesday and remains close to a nearly four-week high touched the previous day. Traders now seem reluctant and opt to wait for potential talks between US President Donald Trump and Chinese President Xi Jinping before placing fresh directional bets. In the meantime, persistent trade-related uncertainties and geopolitical risks might continue to act as a tailwind for the safe-haven precious metal. Meanwhile, expectations that the Federal Reserve (Fed) will...
EUR/USD moves little after registering losses in the previous session, trading around 1.1380 during the Asian hours on Wednesday. The pair may appreciate as the US Dollar (USD) struggles due to traders' caution amid rising tariff uncertainty and its potential to hurt growth in the US economy. Job Openings and Labor Turnover Survey (JOLTS) Job Openings posted 7.39 million new positions in April, higher than March's 7.2 million openings. This figure surprisingly came in above the market expectation of 7.1 million. Traders await the US Nonfarm Payrolls (NFP) report for May, which is expected...
USD/CHF remains stronger for the second successive session, trading around 0.8240 during the Asian hours on Wednesday. The US Dollar continues to gain ground against its peers, potentially due to a technical correction. However, the "Sell America' trend may limit the upside of the Greenback and the pair. Traders await the potential meeting of US President Donald Trump and Chinese President Xi Jinping to resolve trade disputes. Any positive development surrounding the US-China trade disputes could improve the market sentiment. However, the two world's largest economies have recently accused...
Gold price (XAU/USD) attracts some intraday sellers following an Asian session uptick to the $3,372-3,373 area, though it lacks follow-through and holds above the overnight swing low. The US Dollar (USD) looks to build on the previous day's bounce from a six-week low, which, along with a generally positive risk tone, exerts some downward pressure on the commodity. However, a combination of factors warrants some caution before positioning for an extension of the overnight pullback from a nearly four-week high. Investors seem convinced that the Federal Reserve (Fed) will lower borrowing...
GBP/USD edges higher after registering losses in the previous session, trading around 1.3520 during the Asian hours on Wednesday. The pair may appreciate as the US Dollar (USD) attracts sellers under the "Sell America" trend amid rising tariff uncertainty, which could hurt growth in the US economy. Job Openings and Labor Turnover Survey (JOLTS) Job Openings posted 7.39 million new positions in April, higher than March's 7.2 million openings. This figure surprisingly came in above the market expectation of 7.1 million. Traders await the US Nonfarm Payrolls (NFP) report for May, which is...
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...