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 US dollar steadied Wednesday ahead of key inflation data that could guide future Federal Reserve policy, after relatively hawkish comments from Fed Chair Jerome Powell. At 04:15 ET (09:15 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded marginally higher at 107.875, after recording some overnight losses, as traders stepped back from a tariff-driven rally in the greenback. Dollar steadies ahead of US CPI The day's main focus will be the publication of a key monthly reading of U.S. inflation later in the session, which could factor into...
Gold price (XAU/USD) maintains its offered tone through the first half of the European session on Wednesday, though it lacks follow-through selling as traders opt to wait for the release of the US consumer inflation figures. In the meantime, the US Dollar (USD) attracts some buyers in the wake of Federal Reserve (Fed) Chair Jerome Powell's hawkish remarks on Tuesday. This, along with a generally positive risk tone, undermines the commodity for the second straight day. However, concerns that US President Donald Trump's new levies on commodity imports and promised reciprocal tariffs, along...
The dollar index remained steady around 108 on Wednesday after pulling back in the previous session, as caution prevailed ahead of a critical inflation reading that could provide further guidance on the direction of interest rates. The January CPI report is expected to show a slight acceleration in US core inflation to 0.3% from 0.2% on a monthly basis, while the annual rate is projected to slow slightly to 3.1% from 3.2%. Meanwhile, Federal Reserve Chair Jerome Powell, in remarks before Congress, reiterated that the central bank is in no rush to cut interest rates, emphasizing the strength...
The USD/CHF pair trades on a flat note around 0.9130 during the early European trading hours on Wednesday. Traders await further information from US President Donald Trump on potential trade tariffs. The US Consumer Price Index (CPI) inflation data will be in the spotlight later on Wednesday. Also, the Federal Reserve's (Fed) Raphael Bostic and Christopher Waller are scheduled to speak. On Tuesday, Fed Chair Jerome Powell emphasized in testimony before the Senate Banking, Housing, and Urban Affairs Committee that the US central bank does not need to be in a hurry to adjust the monetary...
Oil prices edged down on Wednesday as an industry report showed an increase in U.S. crude stockpiles and tariff worries weighed on sentiment, though stronger refining margins limited the market's downside. Brent futures fell 25 cents, or 0.3%, to $76.75 a barrel by 0408 GMT, while U.S. West Texas Intermediate (WTI) crude dropped 28 cents, or 0.4%, to $73.04 a barrel. The declines snapped a three-day streak of gains for prices with Brent climbing 3.6% while WTI rose 3.7%. Crude oil stockpiles in the U.S., the world's biggest oil producer and consumer, rose by 9.4 million barrels in 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...