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...
The Australian Dollar (AUD) remains subdued against the US Dollar (USD) for the second consecutive day on Friday. The AUD/USD pair faces modest headwinds as the USD steadies ahead of the upcoming Nonfarm Payrolls (NFP) report in the North American session. The Reserve Bank of Australia (RBA) maintains its outlook for economic growth to slow toward 2% by 2025. While its stance has previously bolstered AUD strength, investors remain cautious about potential policy shifts in response to inflation and labor market dynamics. The AUD could find support from easing concerns after US President...
Gold is steady in the early Asian trade. Prices are largely unchanged given the rising macroeconomic uncertainty, the ANZ Research team writes in a note. The move by the U.S. to delay tariffs on Mexico saw yields on U.S. Treasurys push toward their lowest levels this year, as markets price in the possibility of several U.S. Fed rate cuts this year, given the tariffs' potential impact on growth, they add. The precious metal is consolidating its upward trend, and there might be room for prices to rise further given its value as a safe-haven asset, Antonio Di Giacomo of trading platform...
EUR/USD tried to stretch for a fourth straight day of gains, but markets are drawing into the middle ahead of Friday's key US Nonfarm Payrolls (NFP) print. The Euro saw a sharp rejection from the 1.0850 level on Thursday, ending Fiber's three-day win streak. EUR/USD has had a stellar week, climbing 4.6% bottom-to-top from Monday's opening bids. Forex Today: The US Nonfarm Payrolls are coming! FX markets have sharply rebalanced after rate cut expectations took a tumble this week. According to rate markets, the European Central Bank (ECB) is broadly expected to only cut interest rates one...
Gold halted its three-day rally due to investors booking profits ahead of the crucial US Nonfarm Payrolls report. The rise of US Treasury bond yields also made holding the non-yielding metal less appealing. At the time of writing, the XAU/USD trades at $2,918, virtually unchanged. The yellow metal consolidated above the $2,900 figure, capped by the earlier rise of the US 10-year Treasury bond yield to a one-week high, before paring those gains to stand at 4.286%. Uncertainty surrounds the financial markets, spurred by controversial trade policies proposed by the President of the United...
Oil was largely steady in choppy trade on Thursday with global benchmark Brent still below $70 a barrel under pressure from tariffs between the U.S., Canada, and China, and OPEC+ plans to raise output. Brent futures were up 8 cents, or 0.1%, at $69.38 a barrel by 1:40 p.m. ET (1840 GMT), while U.S. West Texas Intermediate crude futures eased 6 cents, or 0.1%, to $66.24. Brent hit $68.33 on Wednesday, its weakest since December 2021, after a larger-than-expected build in U.S. crude inventories added to the bearish news earlier in the week of OPEC+'s hike in output quotas for the first time...
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...