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...
Gold prices hit an all-time high on Wednesday as a weaker dollar, rising trade tensions and concerns over global economic growth boosted demand for safe-haven bullion. Spot gold rose 1.3% to $3,270.12 an ounce, as of 0319 GMT. It peaked at $3,275.20 an ounce earlier in the session. U.S. gold futures rose 1.4% to $3,286.30. "A combination of factors such as a weaker dollar and continued risk aversion are working in gold's favor," said Tim Waterer, chief market analyst at KCM Trade. The dollar index (.DXY), opens a new tab , fell 0.4% against its rivals, making gold more attractive to...
Silver (XAG/USD) prices moved higher after a recent decline, trading around $32.30 per troy ounce during the Asian session on Wednesday (4/16). The rise came as lingering uncertainty over US trade policy continued to fuel safe-haven demand for the precious metal. A weaker US Dollar (USD) also supported Silver prices, making the dollar-denominated asset more attractive to foreign buyers. The US Dollar Index (DXY), which measures the Greenback against a basket of six major currencies, was trading lower near 99.80 at the time of writing. Market attention now turns to the upcoming US Retail...
The Australian dollar (AUD) continued its uptrend against the US dollar (USD) for the sixth straight session on Wednesday (16/4), with the AUD/USD pair holding firm after the release of the Westpac Leading Australia Index. The index's six-month annualized growth rate, which estimates economic momentum relative to trend over the next three to nine months, eased to 0.6% in March from 0.9% in February. China's economy grew at an annualized rate of 5.4% in the first quarter of 2025, matching the pace seen in Q4 2024 and beating market expectations of 5.1%. On a quarterly basis, GDP rose by 1.2%...
Oil prices were flat on Wednesday morning, as changes in U.S. trade policy fueled uncertainty as markets assessed the potential impact of the U.S.-China trade war on economic growth and energy demand. Brent crude futures rose 5 cents, or 0.1%, to $64.72 a barrel by 0039 GMT, while U.S. West Texas Intermediate crude futures rose 3 cents, or 0.1%, to $61.36. Both benchmarks fell 0.3% on Tuesday. Global oil demand is expected to grow at its slowest rate in five years in 2025 and U.S. production growth is also set to ease, due to U.S. President Donald Trump's tariffs on trading partners and...
The GBP/USD pair continued its uptrend that began on April 8, trading around 1.3250 during the Asian session on Wednesday (4/16). Earlier in the day, the pair touched a fresh six-month high of 1.3256. The pair has maintained its strong momentum, boosted by improving global risk sentiment after US President Donald Trump announced exemptions for major technology products from his new "reciprocal" tariffs. In the UK, labor market data showed on Tuesday that the unemployment rate held steady at 4.4% in February, in line with expectations. However, wage growth remained strong, maintaining...
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...