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 prices traded with a positive tone on Tuesday, following Monday's drop of over 2.70%, exchanged hands at around $3,250, up by 0.42%. A softer-than-expected US inflation report and the trade truce between China and the US may keep Gold prices capped beneath the $3,300 figure. US inflation data for April was slightly softer than expected by market participants on a monthly basis. Annual basis figures were aligned with projections, indicating that the tariff effect has not been reflected so far in the "hard data." Meanwhile, analysts at a major US commercial bank revealed that tariffs...
Gold prices rose on Tuesday as the dollar crept lower and initial optimism over a trade truce between the United States and China ebbed, while investors looked forward to U.S. inflation data due later in the day. Spot gold was up 0.6% at $3,255.09 an ounce, as of 1144 GMT, after dropping more than 2% in the previous session. U.S. gold futures were up 0.9% at $3,258.40. The dollar index (.DXY), opens new tab slipped 0.2% after a sharp rise in the previous session. A weaker greenback makes gold less expensive for those holding other currencies. "The uncertainty around the trade tariffs...
Oil continued its recovery as attention moved from the deescalation of the US-China trade war towards the Middle East. Brent rose above $65 a barrel, after gaining more than 6% in the previous three sessions. President Donald Trump, who signaled progress in nuclear talks with Iran, started his trip to the Middle East on Tuesday with a stop in Saudi Arabia, OPEC+'s de-facto leader. The kingdom has pushed for the cartel to increase production to punish non-compliant members, contributing to a recent drop in prices. The 90-day truce on tariffs between the...
The dollar index fell to 101.5 on Tuesday after weaker-than-expected inflation data suggested only a modest impact from President Donald Trump's recently imposed tariffs. According to the Bureau of Labor Statistics, consumer price inflation eased to 2.3% in April—its lowest level since February 2021 and slightly below market expectations of 2.4%. On a monthly basis, CPI rose 0.2%, rebounding from a 0.1% decline in March but still missing the forecasted 0.3% increase. Core inflation held steady at 2.8% year-over-year, marking a four-year low. Markets also continued to weigh the implications...
Silver prices surged nearly 2% to above $33 per ounce on Tuesday, rebounding from losses in the previous session as initial enthusiasm over the US-China trade agreement began to wane, giving way to broader market caution. The rally followed weekend negotiations in Switzerland, where Washington and Beijing agreed to reduce their respective tariffs to 10% and 30% for a 90-day period—marking a significant, though temporary, de-escalation in trade tensions. While officials from both countries are expected to reconvene in the coming weeks to pursue a broader trade accord, uncertainty remains...
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...