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...
Silver prices hovered around $33 per ounce on Tuesday, stabilizing after a recent pullback as investors awaited clarity on US-China trade relations and key US economic releases. China reiterated that it is not engaged in trade talks with the US, countering claims made by President Donald Trump. Meanwhile, US Treasury Secretary Scott Bessent said several major trading partners have made "very good" tariff proposals, and a trade agreement with India could be announced soon. Bessent also noted that China's move to exempt certain US goods from retaliatory tariffs signaled a willingness to ease...
The dollar recouped some of its losses on Tuesday, supported by reports that the U.S. administration may ease planned tariffs, although investor caution lingered over whether a meaningful de-escalation in the U.S.-China trade conflict was in motion. The administration of U.S. President Donald Trump is set to take steps on Tuesday to soften the impact of his automotive tariffs. The United States and China in recent days seemed to have softened their respective stances, with Washington signalling openness to reducing tariffs and Beijing exempting some U.S. imports from its 125%...
Gold prices dropped on Tuesday as softening trade tensions between the U.S. and its trading partners dulled the metal's safe-haven appeal, while investors awaited U.S. economic data to assess the Federal Reserve's policy path. Spot gold was down 0.8% at $3,314.65 an ounce, as of 0619 GMT. U.S. gold futures lost 0.7% to $3,324.20. "The risk environment has clearly improved recently, with market participants buoyed by optimism that the worst of the trade tensions may be behind us amid encouraging rhetoric around trade deals," said IG market strategist Yeap Jun Rong. U.S. Treasury Secretary...
Crude oil prices fell on Tuesday as investors lowered their demand growth expectations due to the ongoing trade war between the United States and China, the world's two biggest economies. Brent crude futures fell by 51 cents, or 0.8%, to $65.35 per barrel by 0635 GMT. U.S. West Texas Intermediate crude futures fell 50 cents, or 0.8%, to $61.55 a barrel. Both benchmarks fell more than $1 on Monday. "Markets are closely monitoring the U.S.-China trade negotiations, understanding that deteriorating trade relations between the world's two largest economies could lead the global economy towards...
Gold price (XAU/USD) extends its steady intraday descent through the Asian session on Tuesday and drops back closer to the $3,300 mark as hopes for the potential de-escalation of US-China trade tensions undermine demand for safe-haven assets. Apart from this, the emergence of some US Dollar (USD) buying further contributes to driving flows away from the commodity. That said, a combination of factors assists the precious metal to hold comfortably above the $3,265-3,260 pivotal support. Investors remain on the edge amid the uncertainty over US President Donald Trump's trade policies and...
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...