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,...
The Silver price (XAG/USD) attracts some buyers to around $34.35 during the early European session on Monday. Potential trade wars and ongoing geopolitical tensions boost the safe-haven flows, benefitting the white metal. Traders are worried ahead of a new round of reciprocal levies that the White House is due to announce on Wednesday. Trump said late Sunday that the administration is hurrying to determine the specifics of its new tariff agenda ahead of its self-imposed deadline of Wednesday, considering possibilities after promising to remake the American economy with a slew of new levies....
Gold started the week with a fresh record high, ahead of President Donald Trump's expected latest tariff barrage that's heightened concerns of a global trade war. Bullion gained as much as 0.8% to top $3,110 an ounce, beating the previous all-time high set on Friday when it recorded a fourth weekly gain, with prices supported by growing haven demand amid a risk-off mood for markets. Trump last week signed a proclamation to slap a 25% tariff on auto imports, while traders also bracing for the White House's so-called reciprocal tariffs due Wednesday. Gold is up about 18%...
The yen strengthens slightly against other G-10 and Asian currencies in the morning session amid risk-off sentiment spurred by looming U.S. tariffs. "We judge that President Trump's tariff regime will be more disruptive to the global economy than markets are currently pricing," say three members of CBA's Global Economic & Markets Research. Risks are tilted to a sharp decline in global equities and a weaker USD/JPY, the members say in a research report. USD/JPY could soon sustainably break below support at 148.13, they add. USD/JPY edges 0.2% lower to 149.56; risk-sensitive AUD/JPY is...
Oil steadied as investors weighed the fallout from President Donald Trump's threat of fresh penalties on Russian crude if a ceasefire with Ukraine could not be reached. Brent's June contract was little changed near $73 a barrel, while West Texas Intermediate was above $69. In comments reported by NBC News on Sunday, Trump said he was "very angry" with his counterpart Vladimir Putin and raised the prospect of secondary tariffs. The US president later told reporters on Air Force One that he wasn't implementing oil sanctions right now. Russia is one of the world's...
Gold started the week with a fresh record high, ahead of President Donald Trump's expected latest tariff barrage that's heightened concern of a global trade war. Bullion edged higher to top $3,093 an ounce, beating the previous all-time high set on Friday when it recorded a fourth weekly gain, with prices supported by growing haven demand. Trump last week signed a proclamation to slap a 25% tariff on auto imports, while markets are also bracing for the White House's so-called reciprocal tariffs due Wednesday. Gold is up about 17% this year in a run that's seen it...
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...