Federal Reserve Bank of New York President John Williams said Thursday that he sees lower risks to inflation as tariffs have driven up price pressures less than expected. "I see on the margin...a reduction of some of the upside risks to inflation" from tariffs, Williams told reporters after speaking at the Economic Club of New York. He noted this reduction comes alongside greater clarity about future economic policy. Williams acknowledged that President Donald Trump's import tax increases are "definitely" affecting price pressures, but added that in terms of tariff pass-throughs to higher...
Gold rose on Monday, supported by a weaker dollar and safe-haven inflows amid concerns about an escalating global trade war, while investors awaited further signals to gauge the Federal Reserve's interest rate stance. Spot gold was up 0.1% at $2,914.00 an ounce by 0701 GMT, while U.S. gold futures were up 0.2% at $2,920.10. The dollar index (.DXY), opens a new tab , hovered near a four-month low hit last week, making dollar-priced bullion cheaper for overseas buyers. "There are increasing downside risks to growth, while U.S. foreign policy is also a source of uncertainty, which adds to...
The Japanese Yen (JPY) remains on the front foot against its American counterpart through the Asian session on Monday, with the USD/JPY pair holding just above the lowest level since October touched in the aftermath of weaker US jobs report on Friday. Data released during the Asian session on Monday showed that the base pay in Japan surged to a 32-year high in January, while real cash earnings fell 1.8% on the back of persistent inflation. This comes on top of a growing confidence that bumper wage hikes seen last year will continue this year and backs the case for further interest rate...
Gold price (XAU/USD) continues with its struggle to gain any meaningful traction during the Asian session on Monday and remains confined in a familiar range held over the past week or so. The downside, however, remains cushioned amid fears of a global trade conflict, which continues to offer support to the safe-haven bullion. Furthermore, the growing acceptance that the Federal Reserve (Fed) will cut interest rates multiple times this year, bolstered by Friday's weaker US jobs data, turns out to be another factor acting as a tailwind for the non-yielding yellow metal. Apart from this,...
Silver price (XAG/USD) extends its losing streak for a third consecutive session, trading around $32.40 per troy ounce during Asian hours on Monday. The prices of the grey metal depreciate as softer economic data from China fuel demand concerns. China's Producer Price Index (PPI) dropped 2.2% year-over-year, following a 2.3% decline in the previous two months. This represents the slowest contraction since August 2024 but highlights persistent deflationary pressures in China's industrial sector, where Silver demand is significant. Moreover, China's Consumer Price Index (CPI) fell 0.7%...
Oil prices fell in Asian trade on Monday as weak inflation data from top importer China kept traders on edge over slowing demand, while uncertainty over the impact of U.S. trade tariffs also weighed. Crude prices had slumped to more than three-year lows last week amid a storm of negative factors, chiefly concerns over slowing demand and increasing supply. Signs of a cooling U.S. economy also weighed. Brent oil futures expiring in May fell 0.4% to $70.10 a barrel, while West Texas Intermediate crude futures fell 0.4% to $66.48 a barrel by 22:48 ET (02:48 GMT). Both contracts were trading...
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...