United States (US) President Donald Trump and his administration have formally asked the federal appeals court to pause a federal order that would allow Lisa Cook to remain at her post at the Federal Reserve (Fed) pending an official probe into accusations of mortgage fraud. According to the Trump administration, potential mortgage fraud is so damaging to the Fed's credibility that Lisa Cook must be removed from the Fed's Board of Governors immediately and should not be allowed to remain in her position without waiting for the results of an official inquiry. Donald Trump, a sitting...
The Japanese Yen (JPY) jumps to a fresh seven-month high against a broadly weaker US Dollar (USD), dragging the USD/JPY pair closer to the 140.00 psychological mark during the Asian session on Tuesday. Fears that US President Donald Trump's tariffs and the escalating US-China trade war would dent global economic growth continue to boost demand for traditional safe-haven assets, including the JPY. Apart from this, the growing acceptance that the Bank of Japan (BoJ) will continue raising interest rates in 2025 turns out to be another factor underpinning the JPY. The USD, on the other hand,...
Gold price continues to build on its record rally, closing in on the $3,500 mark in Asian trading on Tuesday. Investors continue to flock to safety in the traditional store of value, the Gold price, amid no confidence in the US Dollar and Trump's attacks on Fed Chairman Powell.ust as the US-China trade war-led US recession fears weren't enough to sap investors' confidence, US President Donald Trump doubled down on his criticism of Federal Reserve (Fed) Chairman Jerome Powell since last Friday, negatively impacting the already beleaguered US Dollar (USD), lifting the traditional safe-haven...
The Australian Dollar (AUD) extends its gains against the US Dollar (USD) on Tuesday. The AUD/USD pair appreciates as investor sentiment took a hit following renewed criticism from US President Donald Trump directed at Federal Reserve (Fed) Chair Jerome Powell, raising fresh concerns about the Fed's independence. White House economic advisor Kevin Hassett said on Friday that Trump is exploring whether he has the authority to dismiss Powell. Trump also warned in a Truth Social post that the economy could slow down unless Powell acts swiftly to lower interest rates. Adding to the market...
Silver price (XAG/USD) dips slightly during Tuesday's Asian session, trading around $32.60 per troy ounce, after posting gains in the previous session. The grey metal is under pressure as the US Dollar (USD) regains strength. The US Dollar Index (DXY), which measures the Greenback against six major currencies, hovers near 98.30, supported by a rebound in the 2-year US Treasury yield, now at 3.77%. However, Silver could regain momentum as safe-haven demand persists amid ongoing economic uncertainty. The DXY recently fell to a three-year low after US President Donald Trump intensified...
Oil prices rose in Asian trading on Tuesday, recovering from a sharp 2% drop, as markets remained cautious amid global economic uncertainty driven by U.S. trade tariffs and President Trump's efforts to overhaul the Federal Reserve. As of 21:55 ET (01:55 GMT), Brent Oil Futures expiring in June rose 0.8% to $66.80 per barrel, while West Texas Intermediate (WTI) crude futures jumped 1% to $63.02 per barrel. Both contracts had settled more than 2% lower on Monday after Iran and the U.S. agreed to commence expert-level discussions to design a framework for a potential nuclear deal. Trump's...
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...