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...
EUR/USD strengthened after hitting a weekly low of 1.1210, up more than 0.70% on Thursday (5/29) as weak US jobs data weakened the US dollar, which was also hit by falling US yields. At the time of writing, the pair was trading at 1.1376. The US economic report revealed that Americans filing for unemployment benefits increased in the week ending May 24, as reported by the US Department of Labor. Moreover, confirmation of a contraction in Gross Domestic Product (GDP) figures for Q1 2025 weighed on the greenback and lifted EUR/USD above the 1.1300 mark. Following the release of the data,...
Oil prices fell more than 1% on Thursday, retreating from earlier gains, as investors weighed the potential impact of a US court ruling blocking President Donald Trump's most sweeping tariffs. The market was also watching for potential new US sanctions curbing Russian crude flows and a decision by OPEC+ to raise output in July. Brent crude futures settled down 75 cents, or 1.2%, at $64.15 a barrel. U.S. West Texas Intermediate crude fell 90 cents, or 1.5%, to $60.94 a barrel. Prices had earlier risen after a US court ruled Wednesday that Trump had exceeded his authority by imposing...
Gold prices rebounded from a weekly low of $3,245 and climbed past $3,300 on Thursday, helped by a weaker US jobs report, as markets cheered a US court's decision to block US President Donald Trump's tariffs. At the time of writing, XAU/USD was trading at $3,318, up 0.94%. The US Labor Department revealed that the number of Americans filing for unemployment benefits exceeded estimates and the previous week's report. The report adds pressure on the Federal Reserve (Fed) to ease policy as the risk of high unemployment has increased. This, along with confirmation of a contraction in US Gross...
Oil fell as weak U.S. economic data and concerns about rising supplies eroded risk sentiment from a court ruling blocking most Trump administration tariffs. West Texas Intermediate fell as much as 2.1% to trade near $61 a barrel after Interfax quoted Kazakhstan as saying OPEC+ would raise output at its meeting on Saturday, with the size of the increase still to be decided. The broader market eased from earlier highs on data showing the U.S. economy shrank at the start of the year, further pressuring commodities. Crude had earlier rallied after a trade court blocked a range of President...
Gold rose as the dollar gave up short-lived gains from a court ruling that struck down President Donald Trump's global tariff agenda. Bullion rose as much as 1.3%, erasing losses suffered during a brief rally in the U.S. currency as a weaker dollar made the precious metal more attractive to buyers in other countries. The dollar gauge fell 0.4%. The dollar initially gained after the U.S. Court of International Trade ruled that many of Trump's tariffs were illegal. But strategists warn that there are many alternative routes the president can take to ensure his signature economic policies are...
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...