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 fluctuated after a two-day decline as markets remained in wait-and-see mode despite data showing improving economic sentiment and signs of progress in trade talks. Bullion fell as much as 0.3% after earlier rising as much as 0.7%, while the dollar wavered and Treasury yields edged higher. Investors weighed improving trade relations between Washington and Brussels. The European Union's trade chief, Maros Sefcovic, said he planned to speak with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer on Thursday, as the EU has sought to speed up negotiations...
The U.S. dollar rose for a second day on Wednesday on optimism that a trade deal will brighten the U.S. economic outlook, while the Japanese yen weakened after the government saw weak demand for 40-year bonds. Pessimism about the U.S. economy has eased after Trump delayed plans to impose 50% tariffs on European Union imports over the weekend and following a deal with China earlier this month to reduce tariffs imposed on each other. "The quick reversal of tariff threats against Europe over the weekend has improved risk appetite and reduced negative perceptions about the U.S. growth...
The dollar index edged up to 99.7 on Wednesday, extending a nearly 0.4% gain from the previous session, as traders awaited fresh catalysts while continuing to monitor trade tensions and fiscal developments under the Trump administration. Despite the recent uptick, the greenback remains near its 2023 lows reached in April and is down more than 7% year-to-date. On Sunday, President Trump postponed the implementation of a planned 50% tariff on EU imports to July 9th, just days after announcing the sweeping measure. Meanwhile, his so-called "big beautiful bill" narrowly passed the House of...
Oil prices inched up on Wednesday, with the U.S. barring Chevron (CVX.N), opens new tab from exporting crude from Venezuela and production shut-ins from Canada, while markets eyed an expected production increase from OPEC+. Brent crude futures rose 54 cents, or 0.8%, to $64.63 a barrel by 1050 GMT, while U.S. West Texas Intermediate crude gained 64 cents, or 0.9%, to stand at $61.45 a barrel. The Trump administration has issued a new authorisation for U.S.-major Chevron (CVX.N), opens new tab that would let it keep assets in Venezuela but not export oil or expand activities, Reuters...
Gold firmed on Wednesday as investors bought the dip after prices declined in the previous session, while markets awaited minutes of the Federal Reserve's latest policy meeting and economic data for insights on the U.S. interest rate outlook. Spot gold was up 0.6% to $3,319.61 an ounce, as of 1029 GMT. Bullion fell below the $3,300 level and hit a low of $3,285.19 in the previous session. U.S. gold futures rose 0.6% to $3,318.60. "Gold is rebounding mainly due to bargain hunting after a sharp drop in the previous session," said Jigar Trivedi, senior commodity analyst at Reliance...
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...