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 US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades lower, roughly 0.60% on Thursday. The knee-jerk reaction originates from United States (US) President Donald Trump and US Treasury Secretary Scott Bessent. Both individually said that no unilateral offer was made to China from the US to lower tariffs, while Trump said that reciprocal tariffs could be revisited if negotiations are not going the way the Trump administration wants them to go, Bloomberg reports. On the economic calendar front, Durable Goods is painting a very...
Oil rose as investors weighed the prospect of more OPEC+ supply and the fallout from trade tensions between the US and China. Brent climbed toward $67 a barrel after sliding 2% on Wednesday, while West Texas Intermediate was around $63. The dollar weakened, making commodities priced in the currency more appealing. Growing strain within OPEC+, particularly with perennial overproducer Kazakhstan, has stoked fears that output will continue to rise at a faster-than-advertised pace over the coming months. The Organization of the Petroleum Exporting Countries and its allies will hold...
Britain's fiscal challenges are mounting, with the latest data revealing a wider-than-expected budget deficit and deteriorating growth indicators. As government spending faces further cuts and the services sector slips into contraction, pressure is building on the Bank of England to loosen policy—potentially weighing further on the pound, Commerzbank's FX analyst Michael Pfister notes. UK budget deficit widens amid weak growth"Yesterday's figures showed once again why the UK is in a difficult situation at the moment. It started with the net borrowing figures for March, which were again...
Silver fell nearly 1% to around $33.3 per ounce on Thursday in a likely technical correction after surging more than 3% in the previous session to a three-week high. The white metal continued to diverge from gold, reflecting its hybrid nature as both a precious and industrial metal—making it more sensitive to shifts in macroeconomic sentiment and trade developments. Recent market moves were shaped by evolving U.S.-China trade signals. While the Trump administration is reportedly considering tariff cuts pending talks with Beijing, China has conditioned its participation on a pause in U.S....
Oil prices recovered some losses on Thursday after falling nearly 2% in the previous session, with investors weighing a potential OPEC+ output increase against conflicting tariff signals from the White House and ongoing U.S.-Iran nuclear talks. Brent crude futures were up 53 cents, or 0.8%, to $66.65 a barrel at 0706 GMT, while U.S. West Texas Intermediate crude was up 55 cents, or 0.88%, to $62.82 a barrel. Prices had settled down 2% in the previous trading session after Reuters reported that several OPEC+ members would suggest the group accelerate oil output increases for a second month...
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...