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...
Gold (XAU/USD) prices struggled to extend modest intraday gains through the early European session on Monday (03/03), albeit managed to hold above a three-week low touched on Friday. Traders are pricing in the possibility that the Federal Reserve (Fed) will cut interest rates by a quarter percentage point twice by the end of this year amid signs of deteriorating consumer sentiment. This, in turn, failed to help the US Dollar (USD) capitalize on its three-day recovery from over two-month lows touched last week and helped revive demand for the non-yielding yellow metal. Additionally, growing...
Oil edged up on Monday as upbeat manufacturing data from China, the world's biggest crude importer, fueled renewed optimism about fuel demand, although uncertainty about a Ukraine peace deal and global economic growth from potential U.S. tariffs loomed. Brent crude was up 19 cents, or 0.3%, at $73.00 a barrel by 0720 GMT while U.S. West Texas Intermediate crude was at $69.95 a barrel, up 19 cents, or 0.3%. Prices rose after official data on Saturday showed Chinese manufacturing activity expanded at the fastest pace in three months in February as new orders and higher purchasing volumes led...
The US Dollar Index (DXY) faced selling pressure near 107.25, ending a three-day winning streak during the early European session on Monday (03/03). Rising expectations that the US Federal Reserve (Fed) will cut interest rates by a quarter percentage point twice by the end of this year dragged the DXY lower. Technically, the bullish outlook for the DXY remains in place as the index is holding above the key 100-day Exponential Moving Average (EMA) on the daily chart. However, the 14-day Exponential Moving Average (EMA) is hovering around the midline, suggesting that further consolidation...
Gold prices edged higher in Asian trading on Monday as the dollar weakened, while uncertainty surrounding U.S. trade tariffs and Russia-Ukraine peace talks supported bullion's safe-haven appeal. Spot Gold rose 0.3% to $2,865.69 per ounce, while Gold Futures expiring in April gained 0.9% to $2,873.59 an ounce by 00:35 ET (05:35 GMT). Dollar dips amid tariff uncertainty; pushes gold up U.S. President Donald Trump announced 10% additional tariffs on China and reaffirmed his tariff timings for 25% levies on Mexico and Canada last week. However, on Sunday, U.S. Commerce Secretary Howard...
Oil rose on Monday as upbeat manufacturing data from China, the world's biggest crude importer, led to renewed optimism for fuel demand, although uncertainty about a Ukraine peace deal and global economic growth from potential U.S. tariffs loomed. Brent crude climbed 36 cents, or 0.5%, to $73.17 a barrel by 0439 GMT while U.S. West Texas Intermediate crude was at $70.10 a barrel, up 34 cents, or 0.5%. Prices rose after official data on Saturday that showed that China's manufacturing activity expanded at the fastest pace in three months in February as new orders and higher purchase volumes...
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...