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 EUR/USD pair attracts some sellers to near 1.1375 during the Asian session on Tuesday. The Euro weakens against the Greenback amid rising expectations of further rate cuts from the European Central Bank in June and mixed signals on US-China trade relations.The EUR/USD pair hovers around 1.1350 on Monday, extending its consolidative phase for a second consecutive day. At least, investors pared US Dollar (USD) selling and recovered some optimism amid hopes of easing trade war tensions. Additionally, the latest comments from United States (US) Federal Reserve (Fed) officials were tilted to...
Oil prices fell in Asian trade on Tuesday amid persistent uncertainty over U.S. trade tariffs dampened the economic outlook and sparked persistent concerns over slowing demand. Oil was also pressured by Russia unexpectedly announcing a three-day ceasefire with Ukraine, which could help pave a path towards a bigger agreement. Brent oil futures for June fell 0.4% to $65.63 a barrel, while West Texas Intermediate crude futures fell 0.3% to $61.64 a barrel by 21:43 ET (01:43 GMT). Oil markets were also skittish before an OPEC+ meeting next week, where the cartel is widely expected to increase...
Silver price (XAG/USD) is depreciating after registering gains in the previous day, trading around $33.00 per troy ounce during the Asian hours on Tuesday. The safe-haven demand for precious metals, including Silver, continues to weaken as trade-war concerns ease. At the same time, dollar-denominated Silver loses its appeal, with the strengthening US Dollar (USD) making it more expensive for buyers using other currencies. The USD is gaining support as optimism grows over improving US-China trade relations. US President Donald Trump recently signaled a willingness to roll back tariffs on...
The dollar barely recouped its heavy losses on Tuesday as investors were no clearer on whether a de-escalation of the Sino-U.S. trade war was underway with Treasury Secretary Scott Bessent suggesting the onus was on China to start negotiations. Bessent said in an interview on Monday that it was up to China to de-escalate on tariffs - the latest in a slew of conflicting signals over progress on trade talks between the world's two largest economies. While Trump insists there has been progress and that he has spoken with Chinese President Xi Jinping, Beijing has denied such assertions. The...
The Gold price (XAU/USD) loses ground to around $3,335 during the early Asian session on Tuesday. The yellow metal edges lower amid a modest rebound of the US Dollar (USD) and a softening in tensions between the United States and China. China exempted some US imports from its 125% tariffs on Friday, raising hopes that the trade war between the US and China is nearing an end, although China quickly knocked down US President Donald Trump's assertion that negotiations between the two countries were underway. US Treasury Secretary Scott Bessent said on Monday that the US government is in...
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...