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...
Gold consolidates in the early Asian session amid mixed signals. On the one hand, escalation in the Russia-Ukraine conflict has boosted demand from investors seeking safe-haven assets, ANZ Research analysts say in a note. On Thursday, Russian President Putin said Russia had used a new type of missile, called Oreshnik, to strike a major Ukrainian defense plant. On the other hand, gold has given up some of its gains after U.S. jobless claims unexpectedly fell, raising worries over a slower Fed rate-cut cycle, the analysts add. Spot gold is little changed at $2,670.08/oz. Source: Marketwatch
Spot gold rose for a fourth consecutive session on Thursday, hitting an over one-week high as safe-haven demand soared following AI bellwether Nvidia's lackluster revenue forecast and intensifying Russia-Ukraine tensions. Spot gold was up 0.6% at $2,666.00 per ounce, while U.S. gold futures rose 0.6% to $2,668.60. "It's really one main geopolitical factor that's at play here in the gold market over the course of the last several days - the increased tensions between Ukraine and Russia is probably most notable," said David Meger, director of metals trading at High Ridge Futures. Investors...
Oil rose on signs that the Russia-Ukraine conflict is escalating further. Brent climbed toward $74 a barrel after Ukraine said Russia launched an intercontinental ballistic missile at the central city of Dnipro, following the expanded use of Western-provided long-range weapons by Kyiv's forces. The Russian strike, if confirmed, appears to be the first use of such a weapon since its development at the inception of the Cold War. There have also been some bullish signs for prices in recent days, with premiums of refined products over crude climbing to multi-month...
Bullion traded above $2,660 an ounce after Ukraine said that Russia had launched an intercontinental ballistic missile at the central Ukrainian city of Dnipro. The strike appears to be the first reported use of an ICBM, which is designed to hit targets thousands of kilometers away, since the beginning of the invasion. Heightened geopolitical tensions tend to benefit the precious metal. Bullion is clawing back losses seen in the immediate aftermath of Donald Trump's victory in the US election, which sparked a rally in the US dollar. Gold has gained almost 30% this year and there are...
Oil prices rose on Thursday as geopolitical concerns over rising tensions between Russia and Ukraine outweighed the impact of a larger-than-expected build in US crude inventories. Brent crude futures rose 60 cents, or 0.82%, to $72.81 by 0734 GMT. US West Texas Intermediate crude rose 64 cents, or 0.93%, to $69.39. Ukraine fired a series of British Storm Shadow cruise missiles at Russia on Wednesday, the latest Western weapons authorized for use on Russian targets, a day after firing US ATACMS missiles. Moscow says using Western weapons to attack Russian territory far from its borders...
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...