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 U.S. dollar eased on Thursday, surrendering some of the previous day's big gains after U.S. President Donald Trumpbacked down from threats to fire the head of the Federal Reserve and appeared to soften his stance on China. It caught an extra boost when Treasury Secretary Scott Bessent said the U.S. did not have a specific currency target in mind, ahead of talks with his Japanese counterpart. Bessent has also said the current de facto embargo on U.S.-China trade was unsustainable, while cautioning that the U.S. would not move first in lowering its levies of more than 100% on Chinese...
Gold price (XAU/USD) retreats around $50 from the daily swing high and trades just below the $3,320 level heading into the European session, still up for the first time in three days. US Treasury Secretary Scott Bessent tempered expectations for a quick resolution to the US-China trade standoff, which, in turn, helps revive demand for the safe-haven bullion. Apart from this, the growing acceptance that the Federal Reserve (Fed) will resume its rate-cutting cycle soon and the emergence of some US Dollar (USD) selling turns out to be other factors lending support to the non-yielding Gold...
Gold price (XAU/USD) trims a part of intraday gains, though it retains positive bias for the first time in three days and holds comfortably above the $3,300 mark through the Asian session on Thursday. Hopes for a possible US-China trade deal, along with easing fears about the Federal Reserve's (Fed) independence, remain supportive of a positive risk tone. This, in turn, is seen as a key factor acting as a headwind for the safe-haven bullion. Meanwhile, US Treasury Secretary Scott Bessent tempered expectations for a quick resolution to the US-China trade standoff. Apart from this, a modest...
The Japanese Yen (JPY) sticks to its positive bias through the Asian session on Thursday as fading hopes for a quick resolution to the US-China tradeoff underpin demand for traditional safe-haven assets. Furthermore, expectations that Japan will strike a trade deal with the US and bets for more interest rate hikes by the Bank of Japan (BoJ) turn out to be other factors that lend some support to the JPY. Apart from this, a modest US Dollar (USD) downtick keeps the USD/JPY pair depressed below the 143.00 round-figure mark. Meanwhile, signs of receding trade tensions between the US and China,...
The USD/CHF pair fails to capitalize on a two-day-old recovery from the lowest level since September 2011 and attracts some sellers during the Asian session on Thursday. Spot prices, however, lack bearish conviction and currently trade just below the 0.8300 mark, down 0.25% for the day and close to a nearly two-week high touched on Wednesday. Despite easing fears about the Federal Reserve's (Fed) independence, the US Dollar (USD) bulls remain on the sidelines amid the weakening confidence in the US economy on the back of the uncertainty about US President Donald Trump's trade policies....
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...