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 (XAU/USD) steadies on Tuesday, halting a four-day slide after dipping to a near three-week low around $3,300 on Monday. The slight rebound comes despite a broadly risk-on mood that has kept demand for safe-haven assets subdued. Optimism around easing geopolitical tensions ahead of the August 1 deadline and a renewed push into equities have curbed upward momentum for the metal. At the time of writing, the precious metal is trading around $3,321 during the American session, little changed on the day. Price action remains muted, with Gold oscillating in a narrow range between $3,300 and...
The US dollar (USD) held firm on Tuesday (July 29th) after posting its strongest daily gain since May, gaining 1.0% on Monday. This rally came after the United States (US) and the European Union (EU) announced the framework for a major trade deal on Sunday. The market welcomed the news, viewing the agreement as highly beneficial to Washington. Investors are betting that the deal will give the US greater economic and strategic power, boosting confidence in the greenback. The US Dollar Index (DXY), which measures the greenback against a basket of six major currencies, consolidated Monday's...
Oil prices edged higher on Tuesday (July 29th) amid optimism that the trade war between the United States and its major trading partners is easing and as President Donald Trump increases pressure on Russia over its war in Ukraine. Brent crude futures rose 22 cents, or 0.3%, to $70.26 a barrel at 12:18 GMT, after touching their highest level since July 18th, while U.S. West Texas Intermediate crude was at $66.98, up 27 cents, or 0.4%. Both contracts closed more than 2% higher in the previous session. The trade agreement between the United States and the European Union, despite imposing 15%...
Gold held steady as investors prepared for the Federal Reserve's policy decision, a series of key economic data, and the outcome of US trade negotiations. Gold bullion prices traded in a narrow range on Tuesday after weakening in the previous session amid a rally in the dollar. Although the deal announced Monday between the US and the European Union initially eased fears of a trade war, the asymmetric nature of the agreement has dampened expectations for economic growth outside the US. With President Donald Trump's August 1 tariff deadline approaching, several other trading partners,...
Oil prices edged higher on Tuesday (July 29th) amid optimism that the trade war between the United States and its major trading partners is easing and as President Donald Trump increases pressure on Russia over its war in Ukraine. Brent crude futures rose 47 cents, or 0.7%, to $70.51 a barrel at 09:24 GMT, after touching their highest level since July 18th, while U.S. West Texas Intermediate crude was at $67.24, up 53 cents, or 0.8%. Both contracts closed more than 2% higher in the previous session. The trade agreement between the United States and the European Union, despite imposing 15%...
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...