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) traded near the 101 area on Thursday (10/4), continuing to decline after failing to maintain the recovery momentum from the beginning of the week. This movement occurred as new tariff measures confirmed by the White House raised the effective tariff on Chinese imports to 145%. Federal Reserve (Fed) officials, including President Jeff Schmid and Lorie Logan, warned that this trade action risks worsening inflation and labor market dynamics. On the technical side, the MACD continues to signal selling pressure, while the Relative Strength Index hovers just above the...
The Australian dollar (AUD) continued its rally on Thursday (10/4), climbing towards the 0.6240 zone during the American session. The currency pair built on its recent strength as the US Dollar Index (DXY) slumped further towards multi-month lows near the 101 area. The move came after the market digested the White House's confirmation of a 145% tariff on Chinese goods, combined with the Federal Reserve's (Fed) cautious tone. Despite the greenback's decline, the technical backdrop for AUD/USD remains tilted to the downside, with several key indicators continuing to flash bearish signals,...
Oil prices fell more than $2 a barrel on Thursday, erasing the last session's rally, as investors reassessed a planned pause in broad U.S. tariffs and turned their attention to the deepening trade war between Washington and Beijing. U.S. West Texas Intermediate crude fell $2.28, or 3.7%, to settle at $60.07 a barrel. Brent crude fell $2.15, or 3.3%, to settle at $63.33 a barrel. Both contracts had risen more than $2 a barrel on Wednesday after U.S. President Donald Trump halted the heavy tariffs he had announced on dozens of U.S. trading partners a week ago, marking an abrupt change of...
Gold prices surged above $3,172 an ounce on Thursday, hitting a new record high, as a weaker dollar and escalating trade tensions between the U.S. and China boosted demand for the safe-haven metal. The surge followed President Trump's decision to raise tariffs on Chinese goods to 125%, up from 104%, even as he temporarily eased duties on other countries. The dollar index fell more than 1%, making gold more affordable for buyers using other currencies. Meanwhile, U.S. consumer prices unexpectedly fell in March, but inflation concerns remained high amid the new tariffs. As a result, traders...
Gold prices rose more than 1% on Thursday, extending the previous session's sharp gains, as a weaker dollar and escalating trade tensions between the US and China prompted investors to turn to the safe-haven appeal of the precious metal. Spot gold rose 1.6% to $3,132.29 an ounce by 9:29 a.m. ET (1329 GMT), after rising more than 3% on Wednesday. US gold futures rose 2.3% to $3,150.20. US President Donald Trump said on Wednesday he would temporarily lower tariffs on dozens of countries, but raised tariffs on China to 125% from 104%. "Gold is regaining its appeal as a safe haven and is back...
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...