The Federal Reserve is likely to start a series of interest-rate cuts next week and keep going through the end of the year, traders bet on Wednesday after tamer-than-expected producer price inflation last month calmed worries that price pressures would hold the central bank back from policy easing. Traders stuck to bets the Fed will start with a quarter-point reduction at its meeting next week, and continue with same-sized cuts through year-end, based on pricing of futures contracts that settle to the Fed's policy rate. The producer price index increased 2.6% in August from a year earlier,...
Gold prices pared earlier losses on Monday, as some safe-haven demand filtered through and as strong central bank buying supported prices after they dropped to an over three-week low, while analysts continued to see a bullish outlook for bullion. Spot gold was down 0.6% at $3,019.63 an ounce, as of 0745 GMT. Earlier in the session, gold dropped around 2% to its lowest point since March 13, as jittery investors offloaded the precious metal to offset losses elsewhere, amid fears of a global recession, fuelled by an intensifying trade war. U.S. gold futures firmed 0.1% to $3,037.30. Gold...
The Japanese Yen (JPY) reverses an intraday dip against its American counterpart and climbs back closer to the top end of the daily range heading into the European session on Monday. Investors remain worried that US President Donald Trump's tariffs would trigger an all-out global trade war and undermine economic growth around the world. Moreover, persistent geopolitical tensions lead to an extended sell-off in equity markets and offer some support to the safe-haven JPY. Meanwhile, signs of broadening inflation in Japan keep the door open for further interest rate hikes by the Bank of...
The Silver price (XAG/USD) recovers to around $30.05 during the early European trading hours on Monday. The white metal edges higher as the fear of tariff wars and the potential global recession boost the safe-haven demand. Silver price has witnessed heightened volatility since last week in response to the US imposing reciprocal trade tariffs on key trading partners. Mounting fears of recession over the impact of a global trade war triggered by US President Donald Trump's reciprocal tariffs dampen market sentiment and undermine the precious metals. Furthermore, strong industrial demand,...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $60.30 during the early Asian session on Monday. The WTI price falls to its lowest point since April 2021 amid the fears that US President Donald Trump's global tariffs would push the United States (US) into a recession. Traders worry about an escalating trade war from Trump's global tariffs, which will sharply slow economic growth and raise fears of a slowdown in economic activity both in the US and globally. This, in turn, continues to undermine the WTI price. The tariffs, which are set to take effect this week,...
Gold price (XAU/USD) stages a goodish intraday bounce from a three-week low, around the $2,972-2,971 region, touched during the Asian session on Monday – and spikes to a fresh daily high, around the $3,055 area in the last hour. Data published earlier today showed that the People's Bank of China (PBOC) increased its state Gold reserves for the fifth consecutive month. Adding to this, the prevalent risk-off mood, recession fears, bets that a tariffs-driven US economic slowdown might force the Federal Reserve (Fed) to resume its rate-cutting cycle soon, and geopolitical risks act as a tailwind...
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...