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 USD/CHF pair rose near 0.8340 during the early European session on Monday (5/12). The Swiss Franc (CHF) weakened against the Greenback amid easing fears of a trade war between the United States (US) and China, the world's two largest economies. China and the US have said that they have made progress in trade talks in Switzerland, weighing on safe-haven currencies such as the CHF and providing some fresh air for the pair. US Treasury Secretary Scott Bessent described the discussions as "productive and constructive," while Chinese Vice Premier He Lifeng said trade talks with US officials...
Gold fell on Monday as positive US-China trade talks eased market concerns, prompting investors to shift from safe-haven assets to riskier investments. Spot gold fell 1.4% to $3,277.34 an ounce, as of 0432 GMT. US gold futures fell 1.9% to $3,281.70. "The dollar index has strengthened as the Trump administration touted progress in trade negotiations, with China joining talks over the weekend in Switzerland weighing on gold prices," said Jigar Trivedi, senior commodities analyst at Reliance Securities. The US and China ended high-stakes trade talks on a positive note on Sunday, with US...
Oil prices rose on Monday after both sides in U.S.-China trade talks over the weekend touted progress, lifting market sentiment that the world's two largest crude users may be moving toward resolving their trade dispute. Brent crude futures rose 43 cents, or 0.67%, to settle at $64.34 a barrel by 0500 GMT. U.S. West Texas Intermediate (WTI) crude futures were trading at $61.50 a barrel, up 48 cents, or 0.79%, from Friday's close. Both benchmarks rose more than $1 on Friday and gained more than 4% last week for their first weekly gain since mid-April, after a U.S. trade deal with Britain...
The Japanese Yen (JPY) remained weaker against its American rival through the Asian session on Monday (May 12) as fresh optimism over a US-China trade deal continued to undermine the safe-haven asset. Moreover, concerns about Japan's growth outlook amid US tariff uncertainty seemed to weigh on the JPY. The US Dollar (USD), on the other hand, held steady near multi-week highs amid a hawkish Federal Reserve (Fed) pause and easing fears of a recession in the US, which further acted as a tailwind for the USD/JPY pair. Upbeat Japanese Household Spending data released on Friday boosted the case...
The Australian dollar (AUD) continued to strengthen against the US dollar (USD) for the second straight session on Monday (5/12). The AUD/USD pair benefited from growing optimism surrounding the US-China trade talks being held in Geneva. As Australia maintains strong economic ties with China, developments in the Chinese economy often have a direct impact on the AUD. After two days of negotiations aimed at easing trade tensions, both the US and China reported "substantial progress." Chinese Vice Premier He Lifeng described the talks as an "important first step" toward stabilizing bilateral...
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...