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 USD/JPY pair faced heavy selling pressure, dropping to the 142.00 zone during North American trading hours on Monday (4/28). Investor caution has returned as broader trade optimism has eroded, boosting demand for the safe-haven Japanese yen. A temporary recovery in risk sentiment last week had pushed USD/JPY back to 144.00, but the start of the week has seen renewed yen strength ahead of key domestic and US events. Japanese markets remain closed on Monday for Showa Day, but attention is on the upcoming BoJ meeting where policymakers are expected to keep interest rates at 0.50%. However,...
The US Dollar (USD) weakened slightly on Monday (4/28) as markets kicked off a busy week, overshadowed by skepticism surrounding US trade policy. While US officials hinted at ongoing talks with Asian partners and "daily conversations" with China, Beijing reiterated that it was not engaged in negotiations, stressing the lack of winners in the tariff war. Against this backdrop, the US Dollar Index (DXY) traded slightly lower, around 99.33 at the time of writing. Optimism that US trade policy could eventually ease global tariffs is increasingly being viewed as misplaced. Analysts at Standard...
Brent crude oil prices fell more than $1 a barrel on Monday as economic concerns over the U.S.-China trade war weighed on demand. Brent crude futures settled at $65.86 a barrel, down $1.01, or 1.51%. U.S. West Texas Intermediate crude futures settled at $62.05 a barrel, down 97 cents, or 1.545%. Brent crude prices edged up in the previous two sessions, but ended Friday with a weekly loss of more than 1%. The U.S.-China trade war is dominating investor sentiment in driving oil prices, said analyst John Evans of brokerage PVM, overtaking nuclear talks between the U.S. and Iran and...
Gold prices reversed course and rose on Monday (4/28) as bargain hunting began, while market focus turned to developments in the U.S.-China trade war and a slew of economic data. Spot gold was up 0.4% at $3,332.59 an ounce by 12:09 p.m. ET (1609 GMT) after falling as much as 1.8% earlier in the session. U.S. gold futures were up 1.4% at $3,344.0. "We are starting to see the first signs of selling exhaustion," said TD Securities commodity strategist Daniel Ghali, adding that downside risks to gold are limited. "Western investors, particularly discretionary or macro funds, have been...
Gold prices dipped for a second straight session on Monday as U.S.-China trade tensions eased, and the market awaited data due this week. Spot gold was down 0.6% at $3,297.10 an ounce as of 09:27 a.m. ET (1327 GMT). U.S. gold futures rose 0.3% to $3,307.80. "Gold prices are still dealing with the improved optimism over a U.S.-China trade deal even though there is a lack of clarity," Zain Vawda, analyst at MarketPulse by OANDA, said. The hopes that tariff damage was being contained also kept global equity markets at their highest over three weeks. U.S. President Donald Trump says progress...
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...