The Federal Reserve is expected to deliver its first interest-rate cut this year at its September 16-17 meeting, as it moves to counter a cooling labor market even as inflation remains above target. The anticipated quarter-point reduction may not satisfy President Donald Trump, who wants a bigger cut and has named his White House economic advisor, Stephen Miran, in time to be on the Fed Board at the September meeting, pending Senate confirmation. Here is a look at Fed officials' comments since their last policy meeting, sorting them under the labels "dove" and "hawk" as shorthand for their...
Gold fell after a three-day rally as US President Donald Trump's deal with Japan and reports of progress in negotiations with the European Union eased trade war fears that had fueled demand for safe-haven assets. Bullion fell as much as 1.4% after Trump said he would impose 15% tariffs on Japanese goods, while the Financial Times reported that the US and EU were close to reaching a similar agreement. The terms with Japan were better than most investors had expected, following tough negotiations. Commerce Secretary Howard Lutnick previously said that Japan's pledge to invest hundreds of...
The US dollar (USD) stabilized on Wednesday (July 23rd) after a sharp three-day decline. Traders appeared to be taking a breather as global trade tensions eased slightly after the US and Japan reached a trade deal ahead of the August 1st tariff deadline. At the same time, mounting political pressure on the Federal Reserve (Fed), with renewed criticism of Chairman Jerome Powell, has reignited concerns over the central bank's independence, keeping market sentiment fragile and the greenback weakening. The US Dollar Index (DXY), which measures the greenback's strength against six major...
Oil prices fell for the fourth consecutive session on Wednesday, as investors assessed trade developments including a U.S. tariff deal with Japan ahead of a U.S. stocks data announcement. Brent crude futures were down 35 cents, or 0.5%, at $68.24 a barrel as of 1246 GMT. U.S. West Texas Intermediate crude futures were down 33 cents, or 0.5%, at $64.98 per barrel. Both benchmarks lost about 1% in the previous session after the EU said it was considering countermeasures against U.S. tariffs. U.S. President Donald Trump said on Tuesday that the U.S. and Japan had struck a trade deal that...
Silver (XAG/USD) is treading water on Wednesday after a sharp two-day run to mark fresh multi-year highs. The metal consolidating just below the key $39.50 mark during the American trading hours. While bullish momentum remains intact, the pause comes as the US Dollar (USD) stabilizes on the back of a trade agreement between the United States and Japan, which has injected a dose of cautious optimism into broader markets and tilted sentiment toward risk-on. Despite the intraday slowdown, Silver still trades near 14-year highs, at levels last seen in September 2011, underlining the strength of...
Gold (XAU/USD is undergoing a modest pullback on Wednesday, as markets assess the implications of a United States (US)–Japan trade agreement and remain cautious ahead of further developments in the European Union (EU)–US negotiations. Despite the correction, XAU/USD is holding above the $3,400 mark, supported by lingering tariff risks and broader policy uncertainty. Attention now turns to incoming US economic data for near-term direction. The June Existing Home Sales report, on Wednesday, will provide insight into consumer resilience and housing market trends amid elevated interest...
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...