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 GBP/USD pair started the new week on a weaker note and reversed part of Friday's modest recovery from the vicinity of the 1.3200 level, or over three-week lows. The spot prices traded around the 1.3280-1.3275 region during the Asian session, down 0.20% for the day amid a broadly stronger US Dollar (USD). The US announced on Sunday that a trade deal with China has been reached following high-stakes trade talks in Switzerland over the weekend. This, in turn, helped ease market concerns about a recession in the US. Moreover, the Federal Reserve's (Fed) hawkish pause earlier this month...
EUR/USD eased from the previous session's gains, trading near 1.1240 during the Asian session on Monday (5/12). The euro (EUR) faced pressure as European Central Bank (ECB) official Olli Rehn indicated last week that the ECB may consider cutting interest rates at its next meeting—noting that upcoming forecasts confirm a persistent deflationary trend and slowing economic growth. Nonetheless, the EUR/USD pair gained support from optimism surrounding the US-China trade talks held in Geneva. Both sides reported "substantial progress" after two days of negotiations aimed at defusing the ongoing...
The dollar rose in early Asian trade on Monday after weekend talks between the United States and China eased fears of a trade war between the world's two largest economies while global hot spots appeared to cool. The dollar, government bonds and equities have been battered since massive tariffs announced by US President Donald Trump last month shook confidence in American assets. After talks in Geneva, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer said Sunday a deal had been reached with China to cut the US trade deficit. More details are expected on Monday....
Gold prices fell in Asian trade, dragged down by weaker safe-haven demand triggered by weekend developments. Officials from the U.S. and China concluded their trade talks over the weekend, with Beijing saying the two sides agreed to begin a formal negotiation process and Washington touting progress toward a deal. Also, India and Pakistan on Saturday agreed to a ceasefire after what President Trump described as a U.S.-brokered deal. Profit-taking could halt gold's rally, but it could also boost consumers, the World Gold Council said in a recent commentary. Spot gold was down 1.3% at...
Oil edged higher after the US and China reported "substantial progress" in two days of talks aimed at easing a trade war, signaling a possible resolution of the conflict that has threatened demand in the world's two largest crude consumers. Brent rose above $64 a barrel, after last week posting its first weekly gain in three, while West Texas Intermediate neared $61. After two days of negotiations in Geneva, US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer said they were optimistic about progress and would share more information on Monday, with their Chinese...
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...