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 strengthened to around 1.3290 during the early European session on Monday (05/05). The US dollar (USD) weakened against the British pound (GBP) amid rising economic uncertainties following US President Donald Trump's erratic trade policies. According to the daily chart, the bullish outlook for GBP/USD remains intact, as the price is holding above the key 100-day Exponential Moving Average (EMA). The upside momentum is supported by the 14-day Relative Strength Index (RSI), which is above the midline near 55.60, indicating the path of least resistance is to the upside. The...
Gold prices rose on Monday, supported by a weaker dollar, as investors awaited further details on U.S.-China trade relations, along with a Federal Reserve policy meeting later this week. Spot gold was up 0.5% at $3,256.85 an ounce, by 0416 GMT. U.S. gold futures were up 0.7% at $3,265.10. The dollar (.DXY), opens in a new tab, fell 0.3% against a basket of currencies, making gold more attractive to holders of other currencies. "The U.S. dollar appears to be weakening ahead of this week's Fed meeting, which could allow gold to gain a bit," said Tim Waterer, chief market analyst at KCM...
The Japanese Yen (JPY) traded with a mild positive bias against its US counterpart for the second straight day on Monday (05/05) amid renewed safe-haven demand, although the gains lacked strong conviction. Despite signs of easing US-China trade tensions, US President Donald Trump's rapidly changing stance on trade policy kept investors cautious. Further, geopolitical risks weighed on investor sentiment and provided little support to the JPY. Moreover, a modest US Dollar (USD) weakness dragged the USD/JPY pair back closer to the 144.00 mark during the Asian session. However, the Bank of...
EUR/USD is kicking off the week on a weaker note, trading near 1.1320 during the Asian session on Monday. US President Donald Trump confirmed he would not seek to remove Federal Reserve (Fed) Chair Jerome Powell before his term ends in May 2026. While Trump criticized Powell, calling him "a total stiff," he reiterated that interest rates should eventually be lowered. Additionally, the EUR/USD pair faces headwinds possibly from potential trade tensions. Trump announced plans to direct the US Trade Representative and Commerce Department to begin the process of imposing a 100% tariff on...
The dollar was struggling to hold its ground on Monday even as concerns about a U.S. recession eased just a little, while investors awaited actual evidence of a thaw in Sino-U.S. trade relations, as opposed to just hints from officials. The solid March payrolls report had offered the dollar support by lengthening the odds on a Federal Reserve rate cut in June, and making it more likely the central bank will lean hawkish at its policy meeting this week. "The labor report leaves little doubt that the FOMC will keep rates on hold this week, and the bar for cutting is now even higher for...
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...