United States (US) President Donald Trump and his administration have formally asked the federal appeals court to pause a federal order that would allow Lisa Cook to remain at her post at the Federal Reserve (Fed) pending an official probe into accusations of mortgage fraud. According to the Trump administration, potential mortgage fraud is so damaging to the Fed's credibility that Lisa Cook must be removed from the Fed's Board of Governors immediately and should not be allowed to remain in her position without waiting for the results of an official inquiry. Donald Trump, a sitting...
Gold prices edged higher on Wednesday (July 30th), boosted by a slightly weaker dollar as investors awaited the Federal Reserve's policy decision and comments that could provide further clues about the timing of the US central bank's next move. Spot gold rose 0.2% to $3,331.03 an ounce, as of 08:28 GMT. US gold futures rose 0.1% to $3,328.30. The dollar index, weakened 0.1% after hitting a more than one-month high on Tuesday, making gold cheaper for holders of other currencies. "There are a variety of factors that, combined, are keeping gold prices subdued. From a geopolitical perspective,...
The US dollar index weakened on Wednesday (July 30th), snapping a four-day winning streak as investors remained cautious ahead of the Federal Reserve's policy meeting, following a sharp reaction to the US-EU trade deal earlier this week. Meanwhile, the euro was poised to post its first monthly decline since December 2024. The Japanese yen strengthened against the dollar after a powerful earthquake struck the Kamchatka Peninsula in Russia's Far East and triggered a tsunami, prompting evacuation warnings across much of Japan's eastern coast. Forex markets were largely stable as investors...
The EUR/USD pair fluctuates near a one-month low and is on track for its first monthly decline since December of last year. The euro remains weak, weighed down by negative reactions to the trade deal between the European Union (EU) and the United States (US). Investors are also eyeing the latest second-quarter GDP figures from major European economies, with France growing higher than expected and Germany recording a mild contraction. Eurozone Gross Domestic Product (GDP) figures and the Federal Reserve's interest rate decision are due soon. The euro (EUR) posted a slight recovery from a...
Silver prices held around $38 per ounce on Wednesday, hovering near two-week lows as investors remained cautious ahead of the Federal Reserve's policy announcement. The Fed is widely expected to keep interest rates unchanged, though markets are closely watching for signals of a possible rate cut in September. President Donald Trump has continued pressuring the Fed to lower borrowing costs. Fed Governors Christopher Waller and Michelle Bowman, both seen as potential successors to Fed Chair Jerome Powell. are expected to dissent at this month's meeting. Meanwhile, trade tensions persisted...
Oil prices took a breather in Asian trade on Wednesday after the previous session's spike of more than 3%, as investors awaited developments from U.S. President Donald Trump's tighter deadline for Russia to end the war in Ukraine. Most active Brent crude futures rose 8 cents, or 0.12%, to $71.81 a barrel by 0419 GMT, while U.S. West Texas Intermediate crude gained 8 cents, or 0.12%, to $69.29 a barrel. The Brent crude September contract expiring on Wednesday was up 18 cents at $72.69 per barrel. Both contracts had settled on Tuesday at their highest since June 20. On Tuesday, Trump said...
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...