The Federal Reserve is likely to start a series of interest-rate cuts next week and keep going through the end of the year, traders bet on Wednesday after tamer-than-expected producer price inflation last month calmed worries that price pressures would hold the central bank back from policy easing. Traders stuck to bets the Fed will start with a quarter-point reduction at its meeting next week, and continue with same-sized cuts through year-end, based on pricing of futures contracts that settle to the Fed's policy rate. The producer price index increased 2.6% in August from a year earlier,...
WTI crude oil futures hovered around $73.2 per barrel on Tuesday after a sharp decline in the previous session, as traders remain focused on President Donald Trump's wide-ranging set of tariffs. Trump said he'd impose tariffs on foreign-produced goods such as steel, aluminum, and copper in the near future, raising concerns over the potential ripple effects on global demand for commodities. Additionally, his Treasury Secretary, Scott Bessent, is reportedly backing gradual universal tariffs on U.S. imports starting at 2.5%. On Monday, crude prices slipped 2% amid a broad risk-off trade led...
The Australian Dollar (AUD) continues to decline for the second consecutive day against the US Dollar (USD) on Tuesday. The AUD/USD pair's weakness can be linked to tariff threats made by US President Donald Trump. The risk-sensitive AUD also faced challenges amid increased risk aversion due to news on growing momentum among US President Donald Trump's advisers to place 25% tariffs on Mexico and Canada as soon as February 1. President Trump announced plans on Monday evening to impose tariffs on imports of computer chips, pharmaceuticals, steel, aluminum, and copper. The goal is to shift...
Gold price slid over 1% late on Monday during the North American session, sparked by a broader market sell-off spurred by interest in Chinese AI company DeepSeek. The yellow metal has failed to gain traction as US Treasury bond yields plunge, though the Greenback pared some of its losses, yet below the 108.00 figure. The XAU/USD trades at $2,738 after hitting a daily high of $2,772 Source: FXStreet
AUD/USD declined at the start of the week towards 0.6270 as US Dollar (USD) gains evaporated following signs that United States (US) friction with Colombia could be cooling. Meanwhile, the Federal Reserve (Fed) is widely anticipated to keep interest rates unchanged this week, with traders searching for any insight into policymakers' stance amid ongoing calls from President Donald Trump for immediate cuts. The Australian Dollar (AUD), however, faces headwinds ahead of the release of domestic inflation data, which will determine the Reserve Bank of Australia's (RBA) February rate decision.The...
The Dollar Index remains under heavy pressure, slipping below 108.00 and testing the critical 107.00 level.New Home Sales in December beat estimates, rising to 698,000 units versus expectations of 670,000.President Trump's tariff threats on Colombia imports and Wednesday's Federal Reserve decision add uncertainty to the Dollar's trajectory.The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, continues to slide on Monday, breaking below the psychological 108.00 mark. Concerns over AI-related market valuation, combined with geopolitical...
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...