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,...
Oil prices were down nearly 2% on Friday, and on track for the worst week in months over U.S. President Donald Trump's new tariffs, stoking concerns that a global trade war could hurt oil demand. Brent futures fell $1.28 to $68.86 a barrel by 0703 GMT, while U.S. West Texas Intermediate crude futures fell $1.29 to $65.66. Brent was on course for its biggest weekly loss in percentage terms since the week ended October 14, and WTI since the week ended January 21. While the highly anticipated tariff announcement by Trump on Wednesday sank crude prices, the impact was more severe elsewhere....
Silver prices dropped to around $31.50 per ounce on Friday, bringing weekly losses to nearly 8% as global trade and economic worries triggered a widespread selloff across financial markets. The decline followed US President Donald Trump's announcement of a 10% baseline tariff on all imports, with higher levies targeting major economies including China (54%), the EU (20%), Japan (24%), and India (27%). Affected nations have vowed to retaliate, stoking fears of a tariff-driven global economic slowdown. Equities and commodities bore the brunt of the selloff, while investors shifted toward...
Gold price (XAU/USD) struggles to capitalize on the previous day's late rebound from the $3,054 area, or a one-week low, and attracts fresh sellers during the Asian session on Friday. However, the risk-off mood, fueled by growing market concerns that US President Donald Trump's reciprocal tariffs could dent global economic growth and trigger a recession in the US, helps limit losses for the safe-haven precious metal.Meanwhile, expectations that the Federal Reserve (Fed) will resume its rate-cutting cycle soon on the back of a tariffs-driven US economic slowdown keep the US Dollar (USD)...
The EUR/USD pair trades in positive territory for the third consecutive day around 1.1080 during the early European session on Friday bolstered by the broader US Dollar weakness. Investors await the German Factory Orders and US employment report, which will be published later on Friday. US President Donald Trump on Wednesday unveiled sweeping global tariffs of at least 10% on goods imported from most US trading partners. The Trump administration plans to impose a 20% tariff on EU goods and higher duties on some of the country's biggest trading partners. The tariffs will take effect on April...
The U.S. dollar sank on Friday and the safe-haven yen strengthened towards a six-month peak, as traders weighed the fallout from President Donald Trump's aggressive and far-reaching new tariff measures. The dollar slipped toward a six-month trough against the euro prior to the release of a crucial monthly U.S. payrolls report later in the day that will offer clues to the health of the economy and the outlook for monetary easing. Traders now predict four quarter-point interest rate cuts from the Federal Reserve in the remainder of this year, and reduced the odds of further Bank of Japan...
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...