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 Index (DXY), which measures the value of the US Dollar against a basket of currencies, is trading softer near 108.30 as investors react to mixed economic data and fresh tariff concerns. Market participants are also turning their focus to Federal Reserve (Fed) Chair Jerome Powell's upcoming testimony before Congress for guidance on future interest rate policy. The US Dollar Index remains under pressure, struggling to hold above 108.00 as sellers continue to dominate. The Relative Strength Index (RSI) remains below 50, indicating growing bearish momentum, while the DXY holds...
Crude oil futures rose after three straight weeks of declines as the market shrugged off President Trump's announcement of tariffs on steel and aluminum imports to the U.S., while the dispute between Israel and Hamas over their cease-fire agreement revived some of the geopolitical risk premium that had recently been lost from the market. Israel's statement that Hamas violated the cease-fire by delaying the next planned hostage release added to the rally, said Robert Yawger of Mizuho. He noted that the rally came amid a build in U.S. crude stockpiles as refineries slowed for maintenance,...
President Trump's threats to impose or raise tariffs on trading partners around the world have sent traders into gold futures — with the front-month contract closing up 1.6% at $2,914.30 an ounce. That was a new record for front-month gold, breaking through the $2,900 barrier for the first time. Trump's latest threat, a 25% tariff on steel and aluminum shipped to the U.S., appears to have had a major impact on Canada and Mexico, with Canada selling about 60% of its aluminum imports to the U.S. But the market is uncertain whether that will be the case. "Recent events have taught us all to...
The US Dollar Index (DXY), which tracks the performance of the US Dollar against six major currencies, is not showing any reaction to the vast amount of headlines around tariffs that were published over the weekend. United States (US) President Donald Trump announced 25% steel and aluminum tariffs for all countries importing into the US. Also, plans for reciprocal tariffs are on the table, which would increase US import duties to match those imposed by the country's other trading partners. Meanwhile Gold, the precious metal, is printing fresh all-time highs almost every hour while trading...
Oil prices rose Monday, bouncing after three consecutive weekly declines despite US President Donald Trump's new tariff announcement on all steel and aluminum imports. At 08:10 ET (13:10 GMT), Brent Oil Futures rose 1.4% to $75.69 a barrel, while Crude Oil WTI Futures expiring in March gained 1.5% to $72.05 a barrel. Both contracts lost nearly 2% last week after a sharp jump in US crude stockpiles, fears about a global trade war, and Donald Trump's pledge to boost production. Trump signals levies on steel and aluminum imports The imposition of a 10% tariff on Chinese imports by the US...
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...