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...
The EUR/USD pair clings to gains made on Monday around 1.1700 during the Asian trading session on Tuesday. The major currency pair strengthens as the US Dollar (USD) corrects sharply, following a fresh escalation in trade tensions between the United States (US) and the European Union (EU). The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, trades flat around 97.88 on Tuesday. The DXY has corrected from its almost a month high of 99.00 in the last two trading days. Trade tensions between giant economies escalated after a report from the Wall Street...
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is holding ground after losing more than 0.50% in the previous session and trading at around 97.90 during the Asian hours on Tuesday. Market caution deepened amid rising uncertainty over impending tariffs and increasing worries about the Federal Reserve's (Fed) independence. US Commerce Secretary Howard Lutnick stated unequivocally in a televised interview, "That's a hard deadline, so on August 1, the new tariff rates will come in. Nothing stops countries from talking to us after August...
Gold prices edged down to around $3,380 on Tuesday but remained close to a five-week high reached in the previous session, amid lingering uncertainty ahead of President Donald Trump's August 1 tariff deadline. Attention is now on the EU-US trade negotiations this week, as they seek to clinch a trade deal before the deadline, when Trump has threatened to hit most of the bloc's exports with 30% tariffs. Meanwhile, the bloc is preparing a broader set of possible countermeasures against the US in a scenario where there is no agreement. On the monetary policy front, the European Central Bank is...
The Australian Dollar (AUD) edges lower against the US Dollar (USD) on Tuesday after two days of losses. The AUD/USD pair remains subdued following the release of the Reserve Bank of Australia's (RBA) Meeting Minutes. The RBA Minutes of its July monetary policy meeting highlighted that the board agreed further rate cuts warranted over time, with attention centered on timing and extent of easing. The majority believed to await confirmation on inflation slowdown before easing. Most members felt cutting rates three times in four meetings would not be "Cautious and gradual." Traders are...
The Japanese yen hovered around 147.5 per dollar on Tuesday after gaining about 1% in the previous session, as investors continued to digest the weekend's election outcome. While the ruling coalition lost its majority in the upper house, the result was largely priced in. Crucially, Prime Minister Shigeru Ishiba is expected to stay in office, easing fears of political instability or a sudden resignation. Ishiba reiterated his commitment to overseeing ongoing tariff talks with the US and managing other key policy matters. Meanwhile, opposition parties are expected to push for increased...
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...