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...
Oil prices rose on Wednesday, holding just above a four-year low, as investors focused on US-China trade talks and signs of declining US output. Brent crude futures were up 44 cents a barrel, or 0.7%, at $62.59 a barrel by 0400 GMT, while US West Texas Intermediate crude futures were up 50 cents, or 0.9%, at $59.59 a barrel. Both benchmarks have slumped to four-year lows recently after OPEC+ decided to accelerate output increases, stoking concerns about oversupply at a time when US tariffs have raised concerns about demand. "News that the US and China will start trade talks later this...
Gold prices fell on Wednesday as optimism over potential US-China trade talks dampened demand for safe-haven assets, while investors braced for the Federal Reserve's policy decision due later in the day. Spot gold fell 1.3% to $3,383.88 an ounce, as of 0432 GMT. The metal rose nearly 3% in the previous session. US gold futures fell about 1% to $3,391.80. "Gold appears to be weakening amid the broad risk-on movement across the market… this is a pro-cyclical configuration that may echo optimism amid hints that the US and China have begun real trade negotiations," said Ilya Spivak, global...
The GBP/USD pair attracted some sellers during the Asian session on Wednesday and eroded a part of its weekly gains recorded over the past two days, to the 1.3400 mark. The intraday downtick was sponsored by a modest US Dollar (USD) strength that dragged the spot prices below mid-1.3300s in the last hour. From a technical perspective, the GBP/USD pair started the week showing some resilience near the 1.3250-1.3245 support and bounced off the 100-period Exponential Moving Average (SMA) on the 4-hourly chart. Moreover, oscillators on the daily/hourly charts are holding in the positive...
EUR/USD retraced recent gains from the previous session, holding near 1.1360 during the Asian session on Wednesday (07/05). Technical analysis on the daily chart continues to show a bullish bias, with the currency pair remaining within an ascending channel pattern. The EUR/USD pair remains marginally above the nine-day Exponential Moving Average (EMA), signaling strong near-term bullish momentum. The 14-day Relative Strength Index (RSI) is also holding above the 50 mark, further supporting the prevailing bullish bias. On the upside, the EUR/USD pair could retest the April 21 high of 1.1573...
Silver (XAG/USD) weakened on Wednesday (07/04) during Asian trading hours, hovering around $33.00 an ounce after two consecutive days of gains. The decline came as safe-haven demand weakened following news that US and Chinese officials will meet this week to discuss trade, raising hopes of a de-escalation. In a key development, US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are scheduled to meet Chinese Vice Premier He Lifeng in Geneva over the weekend. This marks the first high-level dialogue since the US imposed tariffs that sparked a global trade conflict....
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...