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...
WTI crude oil futures fell by around 1% to $70.5 per barrel on Thursday, nearing a seven-week low, driven by optimism that peace talks between Russia and Ukraine, encouraged by President Trump, could lead to the easing of sanctions on Russian oil exports. Trump confirmed that talks would begin immediately and hinted at a possible meeting with Putin in Saudi Arabia, fueling speculation that the disruption to Moscow's oil supply could end. Meanwhile, concerns over Trump's threat of imposing new reciprocal tariffs on US trade partners added to market anxiety, potentially reducing economic...
Gold's price (XAU/USD) is rallying after traders bought Wednesday's dip and are driving prices back up to $2,920 at the time of writing on Thursday, while Bullion traders shrugging off the United States (US) Consumer Price Index (CPI) data for January released on Wednesday. Traders are also ignoring the possibility of a peace deal formation with United States (US) President Donald Trump and Russian President Vladimir Putin, who have spoken on the phone to outline a meeting soon to work out the broad strokes of a peace deal. Despite these quite substantial tail risks, Gold is rallying again,...
The dollar dropped versus most major peers as geopolitical developments increased appetite for riskier assets. The Bloomberg Dollar Spot Index halves a 0.3% drop which came at the back of hopes for a solution to the war in Ukraine; investors also awaiting clarity around possible reciprocal tariffs. The euro led Group-of-10 gains earlier as it rose by as much as 0.6% to $1.0440, one-week high; while it pares gains, it's still headed for a third daily advance, longest winning streak this year. USD/CHF down 0.7% to 0.9071, lowest since Feb. 7; Switzerland's inflation rate...
Oil fell for a second day after President Trump and his Russian counterpart Vladimir Putin agreed to talks on ending the war in Ukraine, prompting speculation that impediments to Moscow's supplies may ease. Global benchmark Brent dropped below $75 a barrel after falling 2.4% on Wednesday, the most in more than two months. Trump said negotiations would start immediately, and that he would probably meet with Putin in Saudi Arabia in the "not-too-distant future." Elsewhere, the International Energy Agency again cut its projections for a global oil surplus this year, citing...
Gold price (XAU/USD) sticks to modest intraday gains through the first half of the European session on Thursday, though it lacks follow-through and remains below the record high touched earlier this week. Investors remain worried that US President Donald Trump's trade tariffs might trigger a global trade war, which continues to act as a tailwind for the safe-haven bullion. Apart from this, a fresh leg down in the US Treasury bond yields drags the US Dollar (USD) to the weekly low and turns out to be another factor that benefits the commodity. Moreover, expectations that Trump's...
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...