Federal Reserve Governor Lisa Cook on Tuesday laid out in greater detail her opposition to President Donald Trump's bid to remove her from office, saying it was too late to fire her for mortgage information she disclosed during her confirmation process. In a filing in U.S. District Court, Cook said she listed mortgages on three properties on forms submitted to the White House and U.S. Senate in the vetting process for her appointment to the Fed in 2022. Any inconsistencies were known when she was confirmed and cannot give Trump grounds to fire her now, she said. Trump and Federal Housing...
Gold prices hit two-week highs on Monday, climbing more than 1% on renewed buying of the metal by China's central bank following a six-month hiatus, with bullishness increased by anticipation of a U.S. Federal Reserve interest rate cut next week. Spot gold gained 1.1% to $2,662.98 per ounce, as of 01:41 p.m. ET (1841 GMT). U.S. gold futures settled 1% higher at $2,685.50. The resumption of Chinese buying may support investor demand in the country. In 2023, China was the world's largest official sector buyer of gold, but the PBOC paused its 18-month buying streak in May. Spot silver added...
Gold price (XAU/USD) nudges higher on Monday's early European session, favoured by its safe-aven status amid the increasing uncertainty in the Middle East after the fall of the Bashar al-Assad regime in Syria. Beyond that, The People's Bank of China (PBoC) announced over the weekend that it resumed Gold purchases in November after a six-month pause, which is giving an additional boost to the precious metal. Data from the US released on Friday revealed that the country's labour market remains solid, but the increasing unemployment rate confirmed expectations that the Federal Reserve (Fed)...
The AUD/USD pair finds temporary support and advances to near 0.6420 in Monday's European session after posting a fresh four-month low near 0.6370 on Friday. The Aussie pair rebounds slightly with investors focusing on the Reserve Bank of Australia's (RBA) monetary policy decision, which will be announced on Tuesday. Market experts expect the RBA to leave interest rates unchanged at 4.35% but would temper its hawkish tone as the Australian Q3 Gross Domestic Product (GDP) growth came in weaker-than-expected, a scenario that would be favorable for the Australian Dollar (AUD).Analysts at ANZ...
The AUD/USD pair found interim support and rose near 0.6420 during the European session on Monday after hitting a fresh four-month low near 0.6370 on Friday. The Aussie pair recovered slightly as investors focused on the Reserve Bank of Australia (RBA) monetary policy decision, which will be announced on Tuesday. Market experts expect the RBA to leave interest rates unchanged at 4.35% but will tone down its hawkish tone as Australia's Gross Domestic Product (GDP) growth in Q3 came in weaker than expected, a scenario that would benefit the Australian Dollar (AUD). Source: FXStreet
Gold price (XAU/USD) kicks off the new week on a positive note and sticks to its modest gains through the early European session. The US Treasury bond yields dropped to their lowest level since October amid bets that the Federal Reserve (Fed) will lower borrowing costs again in December. Apart from this, political disruption in South Korea, geopolitical tensions and trade war fears offer some support to the safe-haven XAU/USD. Investors now seem convinced that the US central bank will adopt a less dovish stance amid expectations that US President-elect Donald Trump's expansionary policies...
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...