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 Japanese yen rose to around 148 per dollar on Friday, rebounding from a significant drop in the previous session, as investors digested the latest inflation data. Headline inflation ticked down to 3.3% in June 2025 from 3.5% in May, yet it marked the 39th consecutive month that inflation remained above the Bank of Japan's 2% target. This bolstered expectations that the BoJ may consider tightening monetary policy, given the prolonged period of above-target inflation. Meanwhile, data on Wednesday showed Japan's trade surplus shrank in June, falling short of expectations as exports fell...
Oil held a gain after US data showed the world's largest economy holding up despite the fallout from the Washington-led trade war, while crude market metrics pointed to near-term tightness. Global benchmark Brent traded above $69 a barrel after advancing by more than 1% in the previous session, while West Texas Intermediate was near $67. In wider markets, strong US data eased concerns about the economy, helping to underpin a risk-on mood and global equity rally. Crude futures, as well as those for gasoil, remain in backwardation in the nearer months of their curves, which means traders are...
Gold price dropped by over 0.26% during the North American session on Thursday, trimming some of its earlier losses of nearly 1%. The release of solid economic data from the United States, which supports the Federal Reserve's (Fed) stance to hold rates unchanged at the upcoming July meeting, contributed to this decline. At the time of writing, XAU/USD trades at $3,340. The market mood remains positive throughout the trading day, which serves as a headwind for Gold prices, as investors digest the latest job and consumer data. Initial Jobless Claims for the last week continued to show...
EUR/USD tumbles during the North American session, down 0.38% following the release of economic data from the United States (US), which triggered a reaction by investors, who trimmed their bets that the Federal Reserve (Fed) will cut interest rates. At the time of writing, the pair traded at 1.1598, having reached a high of 1.1642. Risk appetite improved after US President Donald Trump denied rumors that he planned to sack Federal Reserve Chair Jerome Powell. News flows had remained light, though economic data from the US continues to justify the Fed's current stance, which most officials...
Oil prices rose $1 on Thursday after drones struck Iraqi Kurdistan oil fields for a fourth day, pointing to continued risk in the volatile region. Brent crude futures settled at $69.52 a barrel, up $1.00, or 1.46%. U.S. West Texas Intermediate crude futures finished at $67.54 a barrel, up $1.16, or 1.75%. Officials pointed to Iran-backed militias as the likely source of attacks this week on the oilfields in Iraqi Kurdistan, although no group has claimed responsibility. Oil output in the semi-autonomous Kurdistan region has been slashed by between 140,000 and 150,000 barrels per day, two...
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...