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,...
The U.S. dollar firmed across the board on Monday, a day before the release of a U.S. inflation report that could help determine whether the Federal Reserve lowers borrowing costs next month. The dollar index was up 0.3% at 98.52 after last week's 0.4% fall. Against the yen, the U.S. currency traded at 148.085, up 0.2%. Japanese markets were closed on Monday for the Mountain Day holiday. The euro was down 0.3% at $1.16123, while sterling was down 0.2% at $1.34335. "The buck is trading a little firmer against all peers, though the moves are overall modest in nature," said Michael Brown,...
Oil prices were steady on Monday after falling more than 4% last week, as investors looked towards talks this week between the U.S. and Russia over the war in Ukraine. Brent crude futures gained 12 cents, or 0.18%, to $66.71 barrel by 1:01 p.m. EDT (1701 GMT). U.S. West Texas Intermediate crude futures gained 19 cents, or 0.3%, to $64.07. U.S. President Donald Trump said on Friday he would meet Russian President Vladimir Putin on August 15 in Alaska to negotiate an end to the war in Ukraine. The talks follow increased U.S. pressure on Russia, raising the prospect of tighter penalties on...
Gold (XAU/USD) kicks off the week on the back foot, trading with a negative tone on Monday as diminished safe-haven demand and improved risk appetite weigh on the precious metal. Hopes for progress in diplomatic efforts to ease Russia-Ukraine tensions, alongside firmer equity markets, have curbed demand for bullion, with investors shifting toward riskier assets. At the time of writing, the metal is trading around $3,345 during the American trading session, down nearly 1.50% on the day, after last week's buyers repeatedly failed to clear the $3,400 psychological hurdle. There's a cautious...
Oil prices edged higher on Monday, after falling more than 4% last week, as investors looked ahead to talks between the U.S. and Russia later this week on the war in Ukraine. Brent crude futures were up 36 cents, or 0.54%, to $66.95 a barrel at 1202 GMT, while U.S. West Texas Intermediate crude futures were up 34 cents, or 0.53%, to $64.22. U.S. President Donald Trump said on Friday that he would meet Russian President Vladimir Putin on August 15 in Alaska to negotiate an end to the war in Ukraine. The talks follow increased U.S. pressure on Russia, raising the prospect that penalties on...
Gold prices fell more than 1% on Monday as investors waited for news from the White House on potential tariffs on bullion and U.S. inflation data that will provide a steer on the Federal Reserve's interest rate path. Spot gold was down 1.4% at $3,350.94 an ounce by 1135 GMT after touching $3,408.06 on Friday, its highest since July 23. U.S. gold futures for December delivery fell 2.5% to $3,404.90, having hit a record high of $3,534.10 on Friday after reports that Washington had imposed tariffs on imports of 1 kg (2.2 lb) bullion bars. The White House said on Friday that it would issue an...
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...