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 held firm following a weekly advance as rising concerns about the global economic outlook buttressed haven demand. Spot bullion steadied near $2,912 an ounce, after gaining almost 2% last week. In the US, President Donald Trump said the economy faced "a period of transition" as he pressed on with his focus on tariffs and federal job cuts. In China, data pointed to persistent deflationary pressures. The precious metal has surged in the opening quarter of 2025, hitting successive records and gaining every week apart from one. The rally has been driven by investor anxiety about...
The dollar index remained at a four-month low below 104 on Monday after sliding over 3% last week, pressured by mounting US economic concerns. On Sunday, US President Donald Trump described the economy as undergoing "a period of transition" during a Fox News interview, when asked about the risk of a recession. His remarks came as financial markets grappled with an escalating global trade war, following new US tariffs on Mexico, Canada, and China. Meanwhile, Friday's jobs report added to the uncertainty, showing that the US economy added 151K jobs in February, slightly below forecasts of...
The Australian Dollar (AUD) rebounded on Monday, recovering losses from the previous two sessions against the US Dollar (USD). The AUD/USD pair's upward movement was primarily driven by concerns over a potential slowdown in the US economy. The Aussie Dollar also received support from stronger-than-expected GDP growth and trade data from Australia released last week. On the monetary policy front, the latest Reserve Bank of Australia (RBA) Meeting Minutes indicated caution regarding further interest rate cuts, clarifying that February's rate reduction does not signal a commitment to...
Brent crude oil futures dropped to around $69.9 per barrel on Monday as weak economic data from China and uncertainty over U.S. tariffs fueled demand concerns. China's consumer prices fell for the first time in 13 months, while producer price deflation persisted, underscoring deflationary pressures in the world's largest crude importer. Oil remains under pressure as President Trump's shifting tariff policies raised concerns on economic growth and energy demand. While Trump eased some tariffs on Mexico and Canada until April 2, Canada's retaliatory tariffs remain in place, and China's...
Oil fell to near the lowest since September as weak economic data from China compounded a dour outlook for demand. Brent crude traded near $70 a barrel, while West Texas Intermediate was below $67 after seven weeks of declines. China's consumer inflation dropped by more than expected and was below zero for the first time in 13 months, highlighting persistent deflationary pressures in the world's biggest crude importer. Crude has been hit by a confluence of bearish factors, including an escalating global trade war, plans by OPEC and its allies to increase production, and talks to end the...
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...