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 (XAU/USD) prices jumped over 2%, or more than $70, on Monday as the Greenback was battered, although positive economic data from the United States (US) suggests the economy remains solid. XAU/USD trades at $3,309 after bouncing off daily lows of $3,237. Market mood improved following a report by the Institute for Supply Management (ISM) that service providers reassured the robustness of the US economy. The data hinted that prices are rising, ignited by US President Donald Trump's tariffs Over the weekend, Trump announced 100% duties on foreign-produced movies while saying that the...
The U.S. dollar was mostly lower against major currencies, including the yen and the euro, on Monday as markets weighed continued uncertainty from President Donald Trump's policies and their impact on the economy. The greenback slid to a fresh record low against the Taiwan dollar to 28.8150 amid speculation that Taiwan was letting its currency appreciate as part of a trade deal with the U.S., or at least was unwilling to intervene to stop it rising alongside sharp inflows in capital. Trump doubled down on tariff-driven policies during an interview on Sunday, reiterating that the duties on...
Gold advanced amid ongoing trade war risks following US President Donald Trump's latest tariff comments, while investors await a Federal Reserve interest-rate decision later this week. While Trump suggested his administration could strike trade deals with some countries as soon as this week, he signaled no imminent accord with China. Meanwhile, the Fed is widely expected to hold rates steady when policymakers conclude their meeting on Wednesday, despite Trump ratcheting up pressure on Chair Jerome Powell, saying last week's surprisingly strong...
The British pound (GBP) surged higher to near 1.3330 against the US dollar (USD) during North American trading hours on Monday (05/05), rebounding from a fresh weekly low around 1.3260 earlier in the day. The GBP/USD pair moved higher as the US dollar (USD) faced strong selling pressure ahead of the Federal Reserve's (Fed) monetary policy decision, which is due to be announced on Wednesday. According to the CME FedWatch tool, the market is almost fully pricing in the central bank to keep interest rates unchanged in the range of 4.25%-4.50%. Therefore, the main trigger for the US dollar will...
Gold (XAU/USD) rose more than 1% on Monday (05/05) as traders turned to safe assets after an eventful weekend in the geopolitical sphere. Houthi attacks on Ben Gurion airport this weekend and Israel's pledge to fulfill its promises while preparing for a broad ground offensive in Gaza have again raised risks in the region. Meanwhile, US President Donald Trump said that military action could be an option for the US to take control of Greenland. Gold's appeal increased as traders prepared for the Federal Reserve's interest rate decision on May 7. Over the weekend, Trump again expressed his...
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...