Markets are kicking around the idea of a Federal Reserve rate cut in September, but Morgan Stanley isn't sure, warning that the odds may be closer to 50-50 despite widespread expectations. Strong economic indicators including solid GDP growth, healthy financial conditions, and low volatility stand in the way of a clear case for easing, the bank said in a recent report. Nominal GDP growth remains robust at over 5%, unemployment holds steady at 4.2%, and retail sales continue surpassing expectations, reflecting an economy far from needing stimulus, Morgan Stanley's economists said. "It cannot...
Silver prices climbed back above $30.6 per ounce on Friday, rebounding from 11-week lows as growing geopolitical risks spurred safe-haven demand for the precious metal. Russian President Vladimir Putin warned about a possible nuclear-capable ballistic missile strikes on Ukraine, following a series of large-scale Russian attacks on key Ukrainian energy infrastructure. In the Middle East, tensions flared as Israel and Hezbollah exchanged accusations over violations of a ceasefire agreement that went into effect on Wednesday. Additionally, silver prices received support from a weaker dollar...
Gold rose for a fourth day as the dollar weakened and tensions in Ukraine raised demand for safe-haven assets. Bullion rose as much as 1% to trade near $2,665 an ounce on Friday, but was still down about 2% for the week after a cease-fire deal between Israel and Hezbollah earlier in the week. President Vladimir Putin warned Thursday that his forces could strike "decision-making centers" in Kyiv with ballistic missiles, in retaliation for Ukrainian attacks on Russia using Western missiles. The U.S. currency gauge fell on Friday, and was on track for its first weekly decline in eight weeks....
Gold rose near $2,660 an ounce on Friday, rising for a fourth straight session, supported by a weaker U.S. dollar and rising geopolitical tensions. Reports showed President Vladimir Putin warned of a potential new attack on Ukraine using nuclear-capable ballistic missiles, following Moscow's recent large-scale attacks on critical energy infrastructure. The precious metal is expected to fall more than 2% for the week, as markets await further U.S. data for additional insight into the Federal Reserve's monetary policy outlook. Earlier this week, core PCE prices in October matched...
Oil prices edged lower in Asian trade on Friday and were headed for a weekly loss on expectations of easing tensions in the Middle East, with focus shifting to the upcoming OPEC+ meeting. Crude was hit by the announcement of a ceasefire between Israel and the Lebanese militant group Hezbollah, although whether the truce will hold remains unclear. Escalating tensions between Russia and Ukraine - following a series of debilitating attacks on Kyiv - provided limited support to crude, while overall trading volumes were limited due to the U.S. Thanksgiving holiday. Brent crude futures expiring...
The dollar index dropped below 106 on Friday, on track to lose about 1.5% for the week, marking its first weekly decline in nine weeks. The initial pullback was sparked by the nomination of Scott Bessent as US Treasury Secretary, which provided markets with a sense of stability and eased concerns over drastic policy shifts under the incoming Trump administration. The decline gained momentum on Wednesday after US PCE inflation data met expectations, signaling little change in the Federal Reserve's stance on interest rate cuts. Markets are now pricing in a 66.5% chance of a 25 basis point...
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...