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...
EUR/USD is hovering near the 1.1300 level to start the new trading week. Fiber has been stuck in an uncertain consolidation phase as Euro traders struggle to initiate a fresh push in either direction. European data remains limited this week: final Purchasing Managers' Index (PMI) data due later this week is unlikely to produce any surprises, and pan-European Retail Sales figures due Wednesday morning are already expected to disappoint markets, poisoning the water supply and leaving Fiber traders focused on this week's key Federal Reserve (Fed) interest rate decision. The Fed is widely...
Oil prices steadied after a sharp decline with the prospect of more OPEC+ supply weighing on the outlook, as the U.S.-China trade war continues. West Texas Intermediate crude futures were trading above $57 a barrel after falling 2% on Monday, with Brent crude settling near $60. Saudi Arabia has warned of further output increases if the group's overproducing members don't follow suit, following its decision to significantly increase output in June, delegates said. Read More: Saudi Raises Oil Prices to Asia Despite More OPEC+ Supply The supply increases by OPEC and its allies have added to...
Gold edges lower in early Asian trade on a likely technical correction after front-month gold futures closed 2.5% higher on Monday. However, support has been found at the 20-day simple moving average, and the precious metal's momentum has realigned with the well-established bullish trend on the daily chart, says Matt Simpson, market analyst at FOREX.com and City Index, in an email. Market participants will probably now monitor whether gold's latest rally can extend beyond short-covering and stabilize above key support and resistance levels, Simpson adds. Spot gold is 0.1% lower at...
The AUD/USD pair surged on Monday, reaching a fresh five-month high near the 0.6500 level. The Australian Dollar (AUD) benefits from a range of factors, including the US Dollar's (USD) weakness, a solid economic report from the US and the strengthening of global risk sentiment. The Australian Dollar's performance also mirrors broader optimism stemming from the victory of Anthony Albanese's Labor Party in Australia's parliamentary elections, signaling the continuation of stable economic policies. Meanwhile, ongoing trade talks, particularly between the US and China, have contributed to a...
Crude Oil prices are clawing back near-term losses sparked by a planned OPEC output increase.WTI briefly plunged below $65 per barrel as global glut fears resurface.OPEC is poised to reverse its self-imposed two-year production cut beginning in June.West Texas Intermediate (WTI) Crude Oil prices are stabilizing on Monday, clawing back near-term losses after the Organization of the Petroleum Exporting Countries (OPEC) announced it would begin stepping up its internal production quotas beginning in June. The move is broadly seen as a way to punish smaller OPEC member nations that flouted...
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...