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,...
Silver prices (XAG/USD) slipped in Asian trading on Monday (August 11th), ending a six-day winning streak. The white metal traded near $38.10 per ounce, pressured by a strengthening US dollar, investor profit-taking, and optimism regarding a potential truce in the trade war between the United States and China. This combination of factors reduced interest in safe-haven assets like silver. Market participants' focus is now on developments in trade negotiations between the world's two largest economies, particularly ahead of the deadline for imposing additional tariffs. US Secretary of...
The US Dollar Index (DXY) weakened in early trading on Monday (August 11th), retracing earlier gains and trading around the 98.00 level during the Asian session. This weakening reflects increased market caution ahead of the release of key economic data, particularly US consumer inflation on Tuesday, as well as preliminary UK second-quarter GDP data and the US Producer Price Index (PPI) on Thursday. Pressure on the greenback increased following a series of weak US economic data. Higher initial jobless claims and a below-expected July Nonfarm Payrolls report reinforced speculation that the...
Gold prices weakened in trading on Monday (August 11th) as easing geopolitical tensions reduced demand for safe-haven assets. Market participants are now shifting their attention to US consumer inflation data scheduled for release on Tuesday, which is expected to provide clues to the Federal Reserve's future interest rate policy. Spot gold fell 0.7% to $3,376.67 per ounce at 02:48 GMT, while US gold futures for December delivery fell 1.5% to $3,439.70. Pressure on gold prices emerged following the announcement that US President Donald Trump would meet Russian President Vladimir Putin on...
Global crude oil prices fell at the start of this week after posting their biggest weekly decline since late June. This decline comes ahead of a crucial meeting between US President Donald Trump and Russian President Vladimir Putin next Friday, which has raised hopes of a peace deal to end the war in Ukraine. Brent prices are trading near $66 per barrel after falling 4.4% last week, while West Texas Intermediate (WTI) is holding steady above $63. The market responded to Trump's statement that he did not announce additional sanctions against Russia or tariffs on Russian energy buyers when...
The GBP/USD pair started the new week on a calm note, consolidating its relatively strong recovery from the 1.3140 area, its lowest level since April 14, reached earlier this month. Spot prices traded just below the mid-1.3400s during the Asian session, remaining largely unchanged throughout the day, although the fundamentals appear to be tilted toward bullish traders. The Bank of England (BoE), as widely expected, cut interest rates by 25 basis points (bps) last week, bringing the benchmark interest rate down to 4%, its lowest level since 2023. However, the narrow 5-4 vote indicated...
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...