Several Federal Reserve officials who spoke on Wednesday said labor market worries continue to animate their belief that rate cuts still lie ahead for the central bank. "I've been clear that I think we should be cutting at the next meeting," Federal Reserve Governor Christopher Waller said in an interview with CNBC, reiterating the view he has held for some time and led him to dissent at the late July Fed meeting in favor of an easing. "You want to get ahead of having the labor market go down because usually when the labor market turns bad, it turns bad fast," he said. He added that a rate...
The dollar index remained around 106.5 on Tuesday, after losing nearly 1% in the previous session, pressured by a strengthening euro and sterling amid growing hopes for a Ukraine peace deal. European leaders, led by the UK and France, pledged increased fiscal spending and announced plans to present a Ukraine peace proposal to the US. Concerns about the US economy and expectations of further interest rate cuts by the Federal Reserve also weighed on the dollar. The latest ISM report showed that US manufacturing slowed more than expected in February, driven by easing demand, slower production,...
EUR/USD continues its upward momentum for the second consecutive session, trading around 1.0490 during Asian hours on Tuesday. The Euro (EUR) is benefiting from improved market sentiment as hopes for a potential Ukraine peace deal reduce demand for safe-haven assets. European leaders, alongside Ukrainian President Volodymyr Zelenskyy and UK Prime Minister Keir Starmer, have agreed to draft a structured peace plan to be presented to the United States (US), bolstering risk appetite. According to Bloomberg, citing a defense official on Monday, the United States has halted all ongoing military...
The Australian Dollar (AUD) retreats against the US Dollar (USD) on Tuesday, giving up recent gains. The AUD/USD pair remains under pressure following the release of the Reserve Bank of Australia (RBA) Meeting Minutes and Retail Sales data. The RBA's February Meeting Minutes highlighted downside risks to the economy. While the Board acknowledged the labor market's strength as a key reason to maintain rates, it noted that the current tightness was inconsistent with a 2.5% inflation target. Ultimately, the Board saw a stronger case for cutting rates. Australia's Retail Sales, a key...
WTI crude oil futures fell toward $68 per barrel on Tuesday, hovering near a three-month low after OPEC+ signaled plans to revive halted production amid pressure from U.S. President Donald Trump to lower prices. OPEC and its allies said it will proceed with unwinding 2.2 million barrels per day in output cuts starting April 1, following repeated delays. Crude prices also retreated amid concerns that U.S. tariffs could hurt global growth and reduce energy demand. Trump confirmed on Monday that 25% tariffs on goods from Mexico and Canada will take effect later today, alongside a second round...
Gold is steady in the early Asian trade, hovering around the $2,890/oz level after a recent rally. Investors are digesting the latest U.S. manufacturing data, which showed a slowing pace of expansion, and weighing the economic outlook as Trump's tariffs against key trading partners are due to kick in today, the ANZ Research team writes in a note. "Market participants have little risk-on appetite" given the ongoing geopolitical tensions, analysts at Sucden Financial write in a note. Spot gold is flat at $2,890.68/oz. Source : Dow Jones Newswires
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...