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 eased to hit its lowest level in two weeks on Thursday as the dollar's strength and easing trade tensions dulled the metal's safe-haven allure, while investors awaited the U.S. non-farm payrolls report. Spot gold was down 1.6% at $3,235.55 an ounce as of 0629 GMT, after hitting its lowest level since mid-April. The dollar (.DXY), opens new tab rose 0.4% against its peers, making bullion more expensive for overseas buyers. U.S. President Donald Trump said he has "potential" trade deals with India, South Korea and Japan as he sought to convert his tariff policy into trade...
Gold price (XAU/USD) extends its downtrend for the third successive day and drops to over a two-week low, around the $3,221 region during the Asian session on Thursday. Signs of easing trade tensions between the US and China – the world's two largest economies – continue to undermine demand for traditional safe-haven assets and exert downward pressure on the precious metal. Furthermore, the US Dollar (USD) climbs to a two-week top and further contributes to driving flows away from the commodity and the intraday downfall. Meanwhile, the surprise contraction in the US GDP and signs of easing...
The Australian Dollar (AUD) is facing headwinds against the US Dollar (USD) as traders adopt caution ahead of the Institute for Supply Management's (ISM) Manufacturing Purchasing Managers Index (PMI) data from the United States (US) release due later on Thursday. However, the AUD/USD pair received support after the release of Trade Balance data from Australia. The Australian Bureau of Statistics reported a trade surplus of AUD 6.9 billion for March, significantly surpassing expectations of AUD 3.13 billion and the revised February figure of AUD 2.85 billion (down from AUD 2.97 billion). The...
Silver remains under heavy selling pressure for the third straight day on Thursday.Silver (XAG/USD) drifts lower for the third straight day also marking the fourth day of a negative move in the previous five and drops to over a two-week low during the Asian session on Thursday. The white metal, however, shows some resilience below the $32.00 mark, though the technical setup supports prospects for an extension of a one-week-old downtrend.Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's....
The dollar sloughed off weak U.S. data to steady on Thursday as investors focused on signs the trade war may be cooling down, and looked ahead to U.S. jobs data due on Friday. The yen ticked about 0.2% lower to 143.29 per dollar after the Bank of Japan left interest rates at 0.5%, as expected. The dollar notched its largest monthly fall for 2-1/2 years through April, as President Donald Trump's flip-flopping tariffs hit growth expectations and rattled confidence. But it has come off lows as Trump has suspended much of the hit and hinted at deals, including with China, which has the highest...
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...