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 US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of six major currencies, is remaining below 99.50 during the early European hours on Friday. The Greenback remains subdued amid growing concerns over the economic impact of tariffs on the United States (US). Market participants are closely monitoring developments in US trade negotiations, although trading activity is expected to be subdued due to the Good Friday holiday. However, the US Dollar gained some support after hawkish remarks from Federal Reserve Chair Jerome Powell, who cautioned that a sluggish...
USD/CHF edged lower during Asian trading hours on Friday (4/18), hovering around 0.8180, after posting gains in the previous session. The currency pair came under pressure as the US dollar weakened amid growing concerns over the economic impact of US tariffs. Market activity remained subdued due to the Good Friday holiday. Federal Reserve Chairman Jerome Powell warned that persistent inflation coupled with a slowing economy could jeopardize the Fed's dual mandate, raising the specter of stagflation. Sentiment was further dented after former President Trump criticized Powell's recent...
West Texas Intermediate (WTI), the US crude benchmark, was trading around $63.50 during the Asian session on Friday (4/18). WTI prices rose to a two-week high amid hopes for a trade deal between the United States and the European Union and new US sanctions on Iran. Trading volumes are likely to be light on Good Friday. US President Donald Trump and Italian Prime Minister Giorgia Meloni met in Washington, signaling hopes for a resolution to the trade dispute that has strained US-European relations. "We're not going to have much trouble making a deal with Europe or anybody else, because we...
Gold prices (XAU/USD) held steady on Friday (4/18) after falling from an all-time high of $3,358 as investors booked profits during the long Easter holiday. Significant uncertainty over US President Donald Trump's tariffs on imports into the US and ongoing geopolitical tensions could support gold prices, which are known as safe-haven assets. On the other hand, Federal Reserve (Fed) Chairman Jerome Powell was hawkish, reducing the chances of a Fed rate cut in June. This, in turn, could lift the Greenback and weigh on USD-denominated commodity prices. Powell said that a weak economy and high...
The EUR/USD pair attracted some buyers near 1.1370 during the early Asian session on Friday (4/18). Concerns over the economic impact of tariffs continued to drag the US Dollar (USD) lower against the Euro (EUR). Traders will be closely monitoring developments surrounding the US trade talks. Trading volumes are likely to be thin on Good Friday. The European Central Bank (ECB) cut interest rates for the third time this year on Thursday, bringing its main rate to 2.25% in response to slowing growth and US President Donald Trump's tariffs. ECB President Christine Lagarde said during a press...
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...