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 futures slide, under pressure from a stronger U.S. dollar and profit taking. Futures are down 2.65% at $3,231.0 a troy ounce, though they remain up 20% in the year-to-date. Prices have now fallen nearly 7.9% since setting a fresh record high of $3,509.90/oz on April 22. Market risk appetite has grown and reduced demand for safe-haven assets amid rising hopes for President Trump's administration signing trade deals in the near-term. China, currently the largest consumer of gold given economic concerns, has also begun the May Day holiday. This has further reduced upward pressure on gold...
The Pound Sterling (GBP) recovers early losses and turns slightly positive to near 1.3340 against the US Dollar (USD) during European trading hours on Thursday. The GBP/USD pair attracts bids as the US Dollar (USD) faces pressure, while extending its two-day recovery, a move that is driven by hopes that fears of global disruption due to the imposition of additional tariffs by United States (US) President Donald Trump have peaked. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, struggles to break above the fortnightly high around 100.00. The USD...
A sliding yen boosted the dollar on Thursday as the Bank of Japan lowered growth forecasts in light of U.S. tariffs and left rates on hold, while investors watched for signs of the trade war cooling and awaited U.S. labour market data. The yen dropped by as much as 1.1% to 144.74 per dollar, its weakest since April 10. It was last at 144.33 per dollar. The central bank's hold on interest rates was unanimous and anticipated, but investors saw the downgraded outlook as reducing the likelihood of future hikes. "It was no surprise that they revised both the growth and inflation down but both...
Silver prices fell over 1% toward $32 per ounce on Thursday, marking a third consecutive session of decline, as easing global trade tensions dampened demand for safe-haven assets. Sentiment shifted after US President Donald Trump signaled potential trade agreements with India, Japan, and South Korea, and voiced optimism about a deal with China. At the same time, silver's industrial demand outlook came under pressure amid weaker economic data from major economies. The US economy unexpectedly contracted by 0.3% on an annualized basis in the first quarter—its first negative growth in three...
Oil prices steadied on Thursday a day after a steep decline triggered by signs that Saudi Arabia, the world's biggest crude exporter, may raise output and data showing a contraction in the economy of the U.S., the world's biggest oil consumer. Brent crude futures fell 6 cents, or 0.1%, to $61 a barrel as at 0730 GMT. U.S. West Texas Intermediate crude futures fell 12 cents or 0.2%, to $58.09. WTI closed at its lowest since March 2021 on Wednesday. "In the near term, the path of least resistance remains tilted to the downside," said Sugandha Sachdeva, founder of SS WealthStreet, a New...
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...