Markets are kicking around the idea of a Federal Reserve rate cut in September, but Morgan Stanley isn't sure, warning that the odds may be closer to 50-50 despite widespread expectations. Strong economic indicators including solid GDP growth, healthy financial conditions, and low volatility stand in the way of a clear case for easing, the bank said in a recent report. Nominal GDP growth remains robust at over 5%, unemployment holds steady at 4.2%, and retail sales continue surpassing expectations, reflecting an economy far from needing stimulus, Morgan Stanley's economists said. "It cannot...
Oil prices plunged about 2% to their lowest in two months on Tuesday as weak economic news from the U.S. and Germany fueled concerns about slowing energy demand, along with signs from some countries that oil production would increase. Brent crude futures fell $1.76, or 2.4%, to settle at $73.02 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.77, or 2.5%, to settle at $68.93. That was the lowest close for Brent since Dec. 23 and WTI since Dec. 10. U.S. data showed consumer confidence deteriorated at its sharpest pace in 3-1/2 years in February, with 12-month inflation...
Gold prices fell to their lowest in more than a week on Tuesday, as investors booked profits after hitting a record high in the previous session on lingering concerns about instability surrounding U.S. President Donald Trump's tariff plans. Spot gold fell 1.4% to $2,909.59 an ounce by 1:46 a.m. (1846 GMT), after hitting its lowest since Feb. 17 earlier in the session. It hit a high of $2,956.15 on Monday. U.S. gold futures settled 1.5% lower at $2,918.80. "You're seeing profit-taking and people looking to get out and rebuild positions at lower prices," said Bob Haberkorn, senior market...
Gold's price (XAU/USD) has hit a new all-time high on Monday at $2,956, just hours before the Trump administration issued more details on upcoming tariffs. The precious metal trades at around $2,940 at the time of writing on Tuesday, after US President Donald Trump's administration communicated it plans to impose more limitations on China's technological developments. A tougher stance on semiconductor restrictions and pressuring other allies to corner China is part of that strategy. The news creates a negative tone in markets this Tuesday. Traders are fleeing into bonds as a safe haven,...
WTI crude oil futures fell to $70.2 per barrel on Tuesday, remaining near yearly lows due to uncertainty over future demand and a lack of new economic signals from China. Looking ahead, oil prices may remain subdued until mid-March, when China is expected to announce new stimulus policies and a 2025 growth target. Meanwhile, US President Trump confirmed that tariffs on Canadian and Mexican imports will begin on March 4, which could weigh on global oil demand. However, fresh US sanctions on Iran—targeting oil brokers, shipping firms, and Iran's state oil company—raise concerns about tighter...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades almost flat around 106.70 at the time of writing on Tuesday while other asset classes are facing big moves. Investors are piling into safe-haven bonds, with US yields dropping lower. Meanwhile, equities are going down with negative performances in all major indices across Asia and Europe, also including US futures. The rout comes after the US President Donald Trump administration gave more details on its plan to toughen semiconductor restrictions over China. In addition, 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...