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,...
Silver prices climbed above $33.10 per ounce on Monday, snapping a three-day losing streak, as safe-haven demand increased amid geopolitical tensions and economic uncertainty in the US. Investors closely monitored US-led efforts to end the Russia-Ukraine war, while fighting in the Middle East escalated following Israeli airstrikes on a Gaza hospital on Sunday, which killed five people. Silver also gained support from a weaker US dollar, as concerns grew that President Donald Trump's tariffs could slow economic growth. This, in turn, might push the Federal Reserve to cut interest rates...
Gold price (XAU/USD) remains depressed through the early European session on Monday, though it lacks follow-through selling and holds comfortably above the $3,000 psychological mark or Friday's swing low. The global risk sentiment gets a minor lift in reaction to reports that US President Donald Trump's reciprocal tariffs would be narrower and less strict than initially feared. This is evident from a generally positive tone around the equity markets and turns out to be a key factor undermining the safe-haven precious metal. Meanwhile, the US Dollar (USD) struggles to capitalize on a...
Gold prices fell in Asian trade on Monday, retreating further from record highs as reports that U.S. President Donald Trump's April 2 tariffs would be less severe than feared weighed on safe-haven demand. A weaker dollar limited losses in gold, while broader metal prices rose slightly. Copper was supported by expectations of tighter global supply, especially in the face of U.S. tariffs and Chinese smelter shutdowns. Gold remained ahead of recent peaks, as safe-haven demand remained supported by uncertainty over the U.S. economy and Trump's broader tariff plans. Spot gold fell 0.2% to...
USD/CHF extends its gains for the fourth straight session, trading near 0.8840 during Asian trading hours on Monday (3/24). The currency pair strengthened as the US Dollar (USD) recovered its daily losses, supported by rising Treasury yields amid the hawkish tone surrounding the Federal Reserve (Fed). Last week, Fed Chair Jerome Powell noted, "Labor market conditions are solid, and inflation has moved closer to our longer-run objective of 2%, although it remains somewhat elevated." The US Dollar Index (DXY), which measures the USD against a basket of six major currencies, continued to rise,...
The dollar was slightly below a three-week high against a basket of major currencies on Monday as traders cautiously awaited clarity on the next round of tariffs from U.S. President Donald Trump. The euro rose slightly after three straight sessions of declines, while the yen weakened against the dollar, pressured by a rise in U.S. Treasury yields. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was flat at 104.15 by 0525 GMT, after touching 104.22 on Friday for the first time since March 7. The index rose 0.4% last week, its first week of gains...
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...