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...
The Japanese yen weakened past 144.5 per dollar on Wednesday, marking its third straight session of losses as investors digested recent comments from top policymakers and developments in the bond market. BOJ Governor Kazuo Ueda noted that ongoing trade negotiations with the US are contributing to a highly uncertain outlook. He previously reiterated the central bank's willingness to adjust monetary policy as needed to ensure inflation targets are achieved. Finance Minister Katsunobu Kato added that authorities are closely monitoring conditions in the bond market. On Tuesday, both the yen...
The US dollar index rose to around 99.7 on Wednesday, extending gains from the previous session as improving US consumer confidence bolstered sentiment toward the greenback. Market optimism was further supported by President Trump's decision to delay a planned 50% tariff on the EU, easing concerns over escalating trade tensions and improving the outlook for US assets. Meanwhile, European leaders have reportedly asked top companies and CEOs to outline their US investment plans ahead of upcoming trade negotiations with Washington. On the monetary policy front, Minneapolis Fed President Neel...
Gold edged up 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 prices were trading near $3,309 an ounce after falling 1.3% on Tuesday as U.S. consumer confidence rose sharply in May from a near five-year low, signaling a more positive outlook for the economy and labor market. The dollar rose after the data, making bullion more expensive for most buyers. Investors also weighed improving trade relations between Washington and Brussels, with U.S. President Donald Trump saying he...
The EUR/USD pair dipped below 1.1400 for the second straight day, boosted by the recovery of the US Dollar (USD) following an upbeat Consumer Confidence report. Additionally, weak inflation data in France weakened the common currency, which was trading on Tuesday at 1.1335, down more than 0.40%. Risk appetite improved as market participants digested news that US President Donald Trump said trade talks between the United States (US) and the European Union (EU) were gaining strength following his threat of 50% tariffs last Friday. Although he backed off, leaving some room for negotiations, it...
Oil prices fell 1% on Tuesday as investors worried about a supply glut after Iranian and U.S. delegates made progress in their talks and expectations that OPEC+ would decide to raise output at a meeting this week. Brent crude futures settled down 65 cents, or 1%, at $64.09 a barrel, while U.S. West Texas Intermediate crude fell 64 cents, or about 1.04%, to $60.89 a barrel. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, are not expected to change policy at a meeting on Wednesday. However, another meeting on Saturday is likely to agree on a further...
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...