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...
EUR/USD continued to decline for the second straight session, trading near 1.1350 during Asian hours on Tuesday (4/15). The pair weakened as the US dollar (USD) tried to regain stability amid growing concerns over stagflation. Early on Tuesday, Atlanta Fed President Raphael Bostic commented that the Federal Reserve still has a long way to go to bring inflation down to its 2% target. His remarks dampened market expectations for further rate cuts in the near term. In a shift from its previous outlook, Deutsche Bank now anticipates a 25 basis point rate cut in December—the first cut forecast...
Oil prices edged up in Asian trade on Tuesday, helped by the prospect of a temporary halt to President Donald Trump's auto tariffs and a pick-up in Chinese crude imports, as markets eyed U.S.-Iran nuclear talks for clues on the demand outlook. At 10:05 p.m. ET (02:05 GMT), Brent crude futures expiring in June were up 0.2% at $65.02 a barrel, while West Texas Intermediate crude futures rose 0.3% to $61.25 a barrel. Both contracts closed little changed on Monday and remained near four-year lows hit last week. "The market is digesting fast-moving policy developments on the tariff front,...
Gold gained on Tuesday amid continued uncertainty over US President Donald Trump's tariff plans and their impact on the global economy. Spot gold was up 0.4% at $3,221.70 an ounce, as of 0245 GMT. Bullion hit a record high of $3,245.42 on Monday. US gold futures were up 0.4% at $3,237.60. "Gold continues to strengthen today… on continued investor demand for defensive assets to reduce portfolio volatility as the US appears to be setting the stage for more tariffs to come," said IG market strategist Yeap Jun Rong. The US is continuing its probe into pharmaceutical and semiconductor imports...
The dollar was steady on Tuesday but remained close to a three-year low against the euro and a six-month low versus the yen hit last week as investors struggled to make sense of a flurry of U.S. tariffs. However, currency markets were much calmer in early Asian hours after last week's turmoil that hit the dollar hard despite a surge in Treasury yields, highlighting shaky investor confidence in the greenback and U.S. assets. The dollar was up 0.27% at 143.53 yen but remained close to a six-month low of 142.05 hit on Friday. The euro was down 0.22% at $1.1324, just below a three-year high of...
The Japanese Yen (JPY) moved lower during the Asian session on Tuesday (4/15), which, along with a modest uptick in the US Dollar (USD), lifted the USD/JPY pair closer to the mid-143.00s. US President Donald Trump's suspension of tariffs on major consumer electronics and hints that he may temporarily exempt the auto industry from the 25% levy remained supportive of the upbeat market mood. This, in turn, was seen denting demand for traditional safe-haven assets, including the JPY. However, the rapidly escalating US-China trade war and persistent concerns about the potential economic impact...
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...