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...
US President Donald Trump's global reciprocal kick in on Wednesday, fuelling a fresh risk-aversion wave across the financial markets, spiking up the demand for the traditional safe haven Gold. China is hit hardest with 104% tariffs by the US, heighening US-Sino trade tensions. Gold price is underpinned by US tariffs-inspired global flight to safetyThe White House press secretary Karoline Leavitt confirmed that the US will proceed with a sweeping 104% tariff on Chinese imports starting this Wednesday. This continues to fuel worries that an all-out trade war would push the global economy into...
The EUR/USD pair rises to near 1.1065 during the early European session on Wednesday. The US Dollar weakens against the Euro after US President Donald Trump's tariff policy takes effect. Later on Wednesday, traders will take more cues from the release of the FOMC Minutes. The Euro (EUR) gathered balance and prompted EUR/USD to leave behind two daily drops in a row and refocus on the upside, briefly flirting with the psychological 1.1000 hurdle. In fact, the US Dollar (USD) succumbed to the resurgence of the selling pressure on Tuesday as hopes of some negotiation surrounding US tariffs seem...
The GBP/USD pair advances for a second straight session, trading near 1.2820 during Asian hours on Wednesday. The pair's uptick is supported by easing trade tensions after US President Donald Trump signaled openness to negotiations with global partners, fueling hopes of a potential de-escalation in trade conflicts. US Customs and Border Protection confirmed on Tuesday that it is prepared to begin collecting country-specific tariffs from 86 trade partners. While President Trump maintained his broader tariff plans despite requests for exemptions, he indicated a willingness to engage in...
The Australian Dollar (AUD) halts its three-day losing streak against the US Dollar (USD) on Wednesday, supported by comments from US President Donald Trump suggesting a willingness to negotiate with trade partners. Trump's remarks boosted optimism for a potential easing of global trade tensions. US Treasury Secretary Scott Bessent revealed that nearly 70 countries have reached out to the White House seeking to negotiate tariffs. Despite this, market volatility is expected to remain elevated after Trump threatened to impose an additional 50% tariff on Chinese imports if Beijing does not...
Oil prices fell to a four-year low on Wednesday in its worst five-day losing streak in three years, while several commodities, including base metals, tumbled as the trade war between China and the U.S. is set to intensify. Stocks in Asia extended a slide on Wall Street as U.S. President Donald Trump looked set to press ahead with whopping 104% duties on Chinese goods as global recession fears gripped financial markets. "Crude oil extended losses amid signs of escalation in the trade war," ANZ said in a note. "Copper has lost nearly 10% since Trump announced his reciprocal tariffs on major...
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...