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...
Silver (XAG/USD) continues its winning streak for the third straight session, trading around $31.30 during Friday's Asian session. The precious metal is gaining traction as the US Dollar weakens, with the US Dollar Index (DXY) dipping to around 100.20 at the time of writing. Investor demand for safe-haven assets like Silver is also being fueled by escalating US-China trade tensions. On Thursday, the US announced a sharp increase in tariffs on Chinese imports—raising them to 145% with a new 125% levy on top of an existing 20% duty. This move overshadowed US President Donald Trump's 90-day...
The U.S. dollar index fell to around 100 on Friday, approaching its lowest level in three years as economic concerns and fading confidence in U.S. assets continued to weigh on the currency. Investors remain wary of the potential fallout from President Trump's tariff policies, which have raised fears of slower economic growth despite a 90-day reprieve meant to allow for trade negotiations. Trump's move to raise tariffs on Chinese imports to 145% has escalated the trade war with Beijing, further denting sentiment. Meanwhile, the European Union has paused the implementation of countermeasures...
West Texas Intermediate (WTI) crude oil price fell for a second straight session, trading around $59.30 per barrel during Asian hours on Friday. The decline comes amid rising US-China trade tensions, which are clouding the demand outlook. On Thursday, the US announced that tariffs on Chinese imports had surged to 145%, with a new 125% levy added on top of an existing 20% duty. This move overshadowed US President Donald Trump's 90-day pause on tariff hikes for most other countries and heightened concerns about fuel demand from China, the world's largest Oil importer. A prolonged US-China...
The Gold price (XAU/USD) holds positive ground around $3,215 after hitting an all-time high of $3,219 during the Asian trading hours on Friday. The weakening of the US Dollar (USD) and escalating trade war between the United States (US) and China provides some support to the precious metal, a traditional safe haven asset. Data released by the US Bureau of Labor Statistics (BLS) on Thursday revealed that US consumer prices unexpectedly fell in March, but inflation risks are tilted to the upside after US President Donald Trump doubled down on China tariffs. The US CPI inflation eased to 2.4%...
Gold rose to a new record high as concerns about the impact of tariffs on the global economy drove investors to safe havens. Bullion edged higher in early Asian trade on Friday to above $3,190 an ounce. That surpassed a previous record set in the previous session, when it closed more than 3% higher for a second straight day. Gold's safe-haven status has been underscored this week, with President Donald Trump's fluctuating messaging on his tariff agenda triggering panic selling in stocks, bonds and the U.S. dollar, as fears of a global recession hit Wall Street. Risks and uncertainty remain...
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...