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,...
Gold dipped on Monday pressured by a firmer dollar, while investors focussed on the Federal Reserve's first meeting of 2025 for more guidance on the U.S. interest rate path. Spot gold dropped 0.6% to $2,755.80 per ounce, as of 0509 GMT, after trading just below record-high levels on Friday. U.S. gold futures fell 0.7% to $2,760.70. The dollar (.DXY), gained 0.3%, making gold expensive for other currency holders. The U.S. and Colombia pulled back from the brink of a trade war, after the White House said the South American nation had agreed to accept military aircraft carrying deported...
Silver price (XAG/USD) has retraced its gains, trading around $30.30 per troy ounce during the Asian session on Monday. The non-interest-bearing metal faces challenges with the upcoming US Federal Reserve (Fed) policy decision this week. There is widespread anticipation that the Fed will maintain current interest rates, marking the first pause in the rate-cutting cycle that began in September. The uncertainty surrounding US President Donald Trump's trade and immigration policies could prompt the Federal Reserve to remain cautious about cutting rates this year. Trump's policies are perceived...
Oil fluctuated as investors reacted to rapid-fire moves on trade by the Trump administration, with the US threatening, and then holding off, a broad package of curbs against Colombia. Brent dropped below $78 a barrel, but pared a deeper intraday loss, while West Texas Intermediate was near $74. Following a dispute over migrants, President Donald Trump first ordered tariffs against Bogota, before the White House paused the actions as Colombia agreed to all Trump's conditions. The US dollar, meanwhile, pushed higher, weighing on most commodities. Crude remains higher this...
The Australian Dollar (AUD) ends its three-day winning streak against the US Dollar (USD), with the AUD/USD pair trading subdued following the release of mixed Chinese Purchasing Managers' Index (PMI) data on Monday. As close trade partners, China's economic performance significantly impacts the Australian economy. China's NBS Manufacturing PMI fell to 49.1 in January, down from 50.1 in December, missing the market expectation of 50.1. Similarly, the NBS Non-Manufacturing PMI declined to 50.2 in January compared to December's 52.2 reading. The Australian Dollar also failed to gain support...
Gold edges lower in early Asian trade, as investors await the Federal Reserve's rate decision this week, when interest rates are widely expected to be kept on hold. "A change in the tone of the Federal Reserve could affect the direction of the market," says Harbourfront Wealth - Sonora Wealth Group in a note. However, the global economic outlook under the Trump administration could continue supporting gold prices, says its investment advisor Miro Svoboda. Gold typically has an inverse relationship with interest rates, with high rates damping demand for the non-interest-bearing metal. Spot...
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...