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 Australian Dollar (AUD) strengthened for the fifth straight session against the US Dollar (USD) on Tuesday (15/4). The AUD/USD pair continued to gain momentum after US President Donald Trump exempted key technology products from his new "reciprocal" tariffs, boosting global risk sentiment. The exemptions covered goods largely manufactured in China—such as smartphones, computers, semiconductors, solar cells, and flat-panel displays—which provided a boost to the AUD, as China remains Australia's largest trading partner and a major consumer of its commodities. The minutes from the Reserve...
Gold edged higher in Asia this morning as traders digested mixed signals. On one hand, Fed Governor Waller said overnight that interest rates may have to be cut soon if President Trump's massive tariffs remain in place, which supported the appeal of the non-interest-bearing precious metal. On the other hand, Trump said Monday that he is considering temporarily suspending some tariffs to help automakers, which could dampen gold's appeal as a safe-haven asset. "In the short term, gold once again appears a bit stretched and a period of consolidation may be needed," Fawad Razaqzada, market...
Oil was steady after a sluggish session on Monday, with traders monitoring the latest U.S. moves in the trade war and the prospect of easing curbs on Iranian crude. West Texas Intermediate held near $62 a barrel, with Brent settling just below $65. A degree of calm returned to Wall Street on Monday, with stocks and bonds gaining after a tumultuous week in the grip of President Donald Trump's disruptive tariff policies. Oil has fallen about $10 this month as the trade war stoked fears of a global recession that would hurt energy demand, especially in the U.S. and China — the biggest...
AUD/USD maintained its constructive outlook well and sound, advancing for the fourth day in a row and surpassing the key barrier at 0.6300 the figure with certain conviction.The Australian Dollar (AUD) extended Friday's momentum, pushing AUD/USD above the key 0.6300 level at the beginning of the week. This advance was largely driven by a modest pullback in the US Dollar (USD) amid steady US-China trade tensions. Trade war effervescenceThe latest round of tariff moves has intensified fears of a global trade war. President Trump's announcement of tariffs ranging from 10% to 50% has sparked...
The US Dollar Index (DXY) recovered slightly in Monday's North American session after dropping to its lowest point since 2022. Trading around the 99.60 area, the index attempted to stabilize as investors reacted to signs of rising stagflation risks. The rebound came despite fresh US Dollar (USD) selling pressure that had driven EUR/USD and GBP/USD toward multi-month highs earlier in the day. While the market saw some relief after expanded exemptions on US reciprocal tariffs, concerns over inflation, consumer sentiment, and global trade frictions continued to dominate the landscape....
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...