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 Japanese Yen (JPY) maintained its positive bias through the Asian session on Thursday (3/27), which, along with a broadly weaker US Dollar (USD), kept the USD/JPY pair pressured above the psychological 150.00 level. Concerns about the potential economic impact of US President Donald Trump's trade tariffs dampened investors' appetite for riskier assets. Additionally, hawkish sentiment surrounding the Bank of Japan's (BOJ) policy outlook, supported by strong wage growth for the third straight year, turned out to be a key factor supporting the JPY. Meanwhile, the Federal Reserve's (Fed)...
The USD/CHF pair traded on a weaker note around 0.8825 during the early European session on Thursday (3/27). Concerns over the global trade war and ongoing geopolitical tensions boosted safe-haven assets such as the Swiss Franc (CHF). Investors await the final Gross Domestic Product (GDP) for the fourth quarter (Q4), weekly Initial Jobless Claims and Pending Home Sales, due on Thursday. Uncertainty over the tariff outlook and concerns that US President Donald Trump's trade policies will slow the global economy and hurt corporate profits weakened the greenback against the CHF. Trump said on...
Oil prices edged up on Thursday on concerns about tighter global supplies following U.S. tariff threats on Venezuelan oil buyers and earlier sanctions on Iranian oil buyers, while traders weighed the impact of U.S. President Donald Trump's auto tariffs. Brent crude futures rose 7 cents, or 0.1%, to $73.86 a barrel. U.S. West Texas Intermediate crude futures rose 10 cents, or 0.1%, to $69.75 a barrel by 0406 GMT. Oil prices rose about 1% on Wednesday on government data showing U.S. crude and fuel inventories fell last week, and on U.S. tariff threats on countries that buy Venezuelan crude....
Gold prices rose on Thursday as U.S. auto tariffs escalated global trade tensions ahead of an April 2 deadline for reciprocal tariffs from the world's largest economies. Spot gold rose 0.4% to $3,030.47 an ounce by 0247 GMT. U.S. gold futures rose 0.5% to $3,036.00. U.S. President Donald Trump on Wednesday announced a 25% tariff on imported cars and light trucks starting next week, widening a global trade war. Investors are concerned that Trump's retaliatory tariffs, expected to take effect on April 2, could stoke inflation, slow economic growth and escalate trade tensions. Concerns over...
Silver (XAG/USD) recovered recent losses from the previous session, trading around $33.70 per troy ounce during Asian hours on Thursday (3/27). The metal gained traction as investors sought safe-haven assets following the announcement of US auto tariffs, which have raised concerns over potential retaliatory measures next week. The risk-off sentiment increased after US President Donald Trump signed an order late Wednesday imposing a 25% tariff on auto imports, effective April 2, with billing starting the following day. However, imports of auto parts will receive a one-month reprieve. In...
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...