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...
Oil prices ticked up on Tuesday supported by rising geopolitical tensions as Russia and Ukraine ramped up the war and Iran was set to reject a U.S. nuclear deal proposal that would be key to easing sanctions on the major oil producer. Crude had gained nearly 3% on Monday after the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, kept its July output hike at 411,000 barrels per day, the same as earlier months and less than some in the market had feared. Brent crude futures gained 43 cents, or 0.7%, to $65.06 a barrel by 0807 GMT. U.S. West Texas Intermediate...
EUR/USD trades with moderate losses, following a strong performance on the previous day. The pair is moving around 1.1420 at the time of writing, with investors focusing on the preliminary Eurozone Consumer Prices Index (CPI) numbers, due later on Tuesday. Consumer prices are expected to have cooled in May, with the headline inflation returning to a 2% year-over-year (YoY) growth rate, from the 2.2% reading seen in April. Likewise, the core CPI is seen moderating to 2.5% from April's 2.7% reading. These figures are likely to be welcomed by the European Central Bank (ECB), which is widely...
Oil prices ticked up on Tuesday on concerns about supply, with Iran set to reject a U.S. nuclear deal proposal that would be key to easing sanctions on the major oil producer, while weakness in the dollar also supported prices. Brent crude futures gained 21 cents, or 0.32%, to $64.84 a barrel by 0437 GMT. U.S. West Texas Intermediate crude was up 27 cents, or 0.43%, to $62.79 a barrel, after rising about 1% earlier in the session. The oil market surged higher on Monday as rising geopolitical risks and a supply hike from OPEC+ that fell short of expectations provided a boost, said ING...
The GBP/USD pair attracts some sellers during the Asian session on Tuesday and erodes a part of the overnight strong move up to the 1.3560 area, or a multi-day peak. Spot prices drop to the 1.3515 area, or a fresh daily low in the last hour amid a modest US Dollar (USD) uptick, though the fundamental backdrop warrants some caution for bearish traders. The USD Index (DXY), which tracks the Greenback against a basket of currencies, rebounds from a six-week trough touched on Monday and turns out to be a key factor exerting downward pressure on the GBP/USD pair. Any meaningful USD appreciation,...
Gold price (XAU/USD) retreats from the vicinity of the $3,400 round-figure mark, or a nearly four-week peak touched during the Asian session on Tuesday and erodes a part of the previous day's strong gains. A modest US Dollar (USD) recovery from the lowest level since April 22 is seen as a key factor exerting some pressure on the commodity. Apart from this, a generally positive tone around the equity markets seems to undermine demand for the safe-haven precious metal. However, persistent trade-related uncertainties and rising geopolitical tensions might keep a lid on any optimism in the...
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...