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 fell below $33 per ounce on Monday, extending losses from the previous session as easing US-China trade tensions strengthened the dollar and dampened demand for safe-haven metals. Last week, US President Donald Trump signaled openness to lowering Chinese tariffs, while Beijing exempted certain US goods from its 125% levies. Washington is also holding further trade talks with other major economies this week including Japan and South Korea. Meanwhile, China expressed confidence in meeting its full-year growth target of around 5% but refrained from introducing immediate...
Gold price (XAU/USD) maintains its offered tone through the Asian session on Monday and currently trades below the $3,300 round-figure mark, down 0.75% for the day. Despite mixed signals from the US and China, investors remain hopeful over the potential de-escalation of tensions between the world's two largest economies. Moreover, a fall in China's gold consumption in the first quarter of 2025 turns out to be a key factor undermining demand for the traditional safe-haven bullion. Meanwhile, prospects for more aggressive policy easing by the Federal Reserve (Fed) fail to assist the US Dollar...
The Australian Dollar (AUD) is extending loses for the second successive session on Monday. The AUD/USD pair is under pressure as the US Dollar (USD) strengthens amid signs of easing tensions between the US and China. China exempted certain US imports from its 125% tariffs on Friday, according to business sources. The move has fueled hopes that the prolonged trade war between the world's two largest economies might be drawing to a close. However, Reuters cited a Chinese embassy spokesperson on Friday, who firmly denied any current negotiations with the US, stating, "China and the US are...
The Japanese Yen (JPY) oscillates in a narrow range during the Asian session on Monday and stalls the recent pullback from a multi-month high touched against its American counterpart last week. US Treasury Secretary Scott Bessent did not back President Donald Trump's assertion that tariff talks with China were underway. This keeps a lid on the optimism over a quick resolution of trade tensions between the world's two largest economies and lends some support to the safe-haven JPY. Meanwhile, traders have pushed back expectations for an immediate interest rate hike by the Bank of Japan (BoJ)...
Silver price (XAG/USD) continues to lose ground for the second straight day, hovering around $32.80 per troy during Asian trading hours on Monday. The precious metal faces pressure as improving trade relations between the United States (US) and China diminish its safe-haven appeal. On Friday, reports indicated that China had exempted certain US imports from its steep 125% tariffs, raising hopes that the long-running trade dispute between the world's two largest economies could be nearing a resolution. Further boosting sentiment, US Agriculture Secretary Brooke Rollins said on Sunday,...
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...