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 plunged more than 1% on Friday, posting their biggest weekly loss since late March, as traders remained cautious ahead of an OPEC+ meeting to decide the group's output policy for June. U.S. West Texas Intermediate crude futures settled down 95 cents, or 1.6%, at $58.29 a barrel. Brent crude futures settled down 84 cents, or 1.4%, at $61.29 a barrel. For the week, Brent was down more than 8% and WTI was down about 7.7%. The OPEC+ meeting was moved up to Saturday from Monday, three sources told Reuters on Friday, although it was not clear why it was rescheduled. Members of the...
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, weakened on Friday (02/05) after briefly moving above the 100.00 level. Despite stronger-than-expected US Nonfarm Payrolls data, the greenback came under pressure from dovish interpretations and emerging trade headlines involving China. Daily market movers: Not as expected The US Bureau of Labor Statistics reported that Nonfarm Payrolls rose by 177,000 in April, beating the consensus of 130,000 but lower than the revised 185,000 in March. The Unemployment Rate remained at 4.2%, while...
Gold fell on Friday and headed for a second straight weekly decline as easing trade tensions between the U.S. and China and a strong jobs report kept prices pressured. Spot gold fell 0.4% to $3,228.50 an ounce by 1:41 p.m. ET (1741 GMT). Prices were down 2.6% for the week, after hitting a record $3,500.05 on April 22. They hit their lowest since April 14 on Thursday. U.S. gold futures settled 0.6% higher at $3,243.30. China's commerce ministry said the U.S. has repeatedly expressed its willingness to negotiate on tariffs and that Beijing's door is open for talks. "Gold looks like $3,500...
Gold edged higher on Friday, after hitting a two-week low in the previous session, but easing trade tensions and a strong jobs report kept prices on track for a second consecutive weekly loss. Spot gold was up 0.5% at $3,255.01 an ounce as of 9:41 a.m. ET (1341 GMT), after hitting its lowest since April 14 on Thursday. Prices were down 2.1% for the week, after hitting a record high of $3,500.05 on April 22. U.S. gold futures rose 1.3% to $3,262.10. China's commerce ministry said the U.S. has repeatedly expressed its willingness to negotiate on tariffs and that Beijing's door is open for...
Oil headed for a second weekly loss as OPEC+ prepared to weigh further production increases, while traders assessed the latest developments in the US-China trade standoff. Global benchmark Brent futures traded near $62 a barrel on Friday, with the July contract down about 6% this week on expectations that Saudi Arabia will steer OPEC+ to announce another supply boost on Monday. West Texas Intermediate held below $60. Prices pared some of their losses after US government data showed that job growth was robust in April and the unemployment rate held...
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...