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 up on Wednesday, supported by lower Treasury yields and a slight pullback in the dollar, while investors await the Federal Reserve's policy decision later in the day for guidance on the monetary policy trajectory. Spot gold was up 0.1% at $3,328.65 per ounce as of 0422 GMT. U.S. gold futures rose 0.1% to $3,326.10. "There could be a chance that the Fed may start to tilt towards the dovish side of the pendulum, and that is being portrayed on the Treasury yields," OANDA senior market analyst Kelvin Wong said, adding that dollar strength has also eased for now. The U.S....
The Japanese Yen (JPY) edges higher against the retreating US Dollar (USD) during the Asian session on Wednesday and moves away from a one-week low touched the previous day. The upside for the JPY, however, seems limited as traders might opt to move to the sidelines ahead of key central bank events. The Federal Reserve (Fed) will announce its decision at the end of a two-day meeting later today. This will be followed by the Bank of Japan (BoJ) policy update on Thursday. Given that both central banks are expected to keep interest rates steady, investors will look for cues about the policy...
Gold hovered around $3,320 an ounce on Wednesday, staying near a three-week low as easing trade tensions reduced the metal's safe-haven appeal. The US–EU agreement, which imposed a 15% tariff on most European goods, helped avert a broader trade conflict. With additional ongoing talks with Canada, South Korea, and others, investors are increasingly optimistic that further escalations can be avoided. Meanwhile, the US and China are continuing discussions to extend a tariff truce set to expire in two weeks, with President Trump expected to make the final decision on any extension. Investors...
The Australian dollar edged higher to above $0.651 on Wednesday, ending its four-session losing streak, as a weaker US dollar outweighed soft domestic inflation figures. The greenback eased ahead of the Federal Reserve's policy decision, with expectations for a rate hold, though markets remained cautious about any signals hinting at a possible cut in September. In Australia, consumer prices rose at the slowest pace in over four years in Q2, with headline CPI at 0.7% QoQ and 2.1% YoY, and core inflation easing to a three-year low of 2.7% YoY—both below forecasts and within the RBA's 2–3%...
Gold is steady ahead of the FOMC decision due later today. While the FOMC is widely expected to leave rates unchanged, the focus will be on whether Fed Chair Powell offers any hint of a September rate cut in his press conference. Investors are turning their attention to the FOMC meeting and a slew U.S. economic data, DHF Capital's Bas Kooijman says in an email. A dovish shift in Fed rhetoric or any unexpected softness in data could support the precious metal, the CEO and asset manager says. Spot gold is little changed at $3,326.78/oz. Source: Marketwatch
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...