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 U.S. dollar fell further Wednesday, continuing to head lower on uncertainty over President Donald Trump's tax bill, while sterling jumped after a hot inflation report. At 04:30 ET (08:30 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, fell 0.4% to 99.595, extending a 1.3% two-day decline. U.S. tax bill, G7 meeting in focus President Donald Trump's tax cut and spending bill has apparently run into opposition from several dissenting lawmakers, and faces a critical stress test on Wednesday as Republicans in the U.S. House of Representatives...
Oil prices gained more than 1% on Wednesday after reports of Israel preparing a strike on Iranian nuclear facilities raised fears that a conflict could upset supply availability in the key Middle East producing region. Brent futures for July rose 68 cents, or 1.04%, to $66.06 a barrel, by 0630 GMT. U.S. West Texas Intermediate crude futures for July climbed 70 cents, or 1.1%, to $62.73. New intelligence obtained by the United States suggests that Israel is preparing to strike Iranian nuclear facilities, CNN reported on Tuesday, citing multiple U.S. officials familiar with the matter. It...
Gold prices rose nearly 1% on Wednesday, hitting their highest levels in more than a week, as a weaker dollar and U.S. fiscal uncertainty amid Congressional debate on a sweeping tax bill spurred demand for safe-haven assets. Spot gold was up 0.9% at $3,319.51 an ounce, as of 0643 GMT. Earlier in the session, bullion touched its highest level since May 12. U.S. gold futures gained 1.1% to $3,320.30. The dollar opens new tab retreated to its lowest level since May 7, making greenback-priced gold cheaper for holders of overseas currency. "The general dollar index lost more than a full point...
Gold rose to around $3,300 on Wednesday, nearing a two-week high and building on a more than 2% gain from the last session, supported by geopolitical risks and persistent weakness in the US dollar. Reports that Israel is planning a strike on Iranian nuclear sites have raised concerns that the Middle East conflict could escalate, as such an attack might provoke retaliation from Iran. Adding to geopolitical concerns, President Trump said Russia and Ukraine would begin ceasefire talks immediately, but he appeared to signal that he would step back from mediating the three-year...
Oil prices jumped more than 1% on Wednesday after reports Israel is preparing a strike on Iranian nuclear facilities, raising fears that a conflict could upset supply availability in the key Middle East producing region. Brent futures for July rose 97 cents, or 1.5%, to $66.35 a barrel by 0330 GMT. U.S. West Texas Intermediate crude futures for July climbed 96 cents, or 1.6%, to $62.99. The June WTI contract expired on Tuesday at $62.56. New intelligence obtained by the United States suggests that Israel is preparing to strike Iranian nuclear facilities, CNN reported on Tuesday, citing...
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...