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 USD/JPY pair trades sideways around 146.30 during the European trading session on Thursday. The pair consolidates as investors await fresh news regarding trade talks between the United States (US) and Japan. Earlier this week, US President Trump imposed 25% tariffs on imports from Japan, which will come into effect on August 1. The size of tariffs was lower than what Trump announced at the start of month, while stating that Tokyo behaves stiffly over agriculture imports from Washington and disparity over automotive trade. "We've dealt with Japan. I'm not sure if we're going to make a...
Silver prices climbed above $36.50 per ounce on Thursday, snapping a three-day losing streak as a softer US dollar and a sharp decline in Treasury yields boosted demand for precious metals. The moves followed minutes from the Federal Reserve's latest meeting, which showed most policymakers were open to cutting interest rates later this year. Investors also navigated evolving global trade dynamics, with US President Donald Trump sending letters dictating new tariff rates on a total of 21 countries. Moreover, Trump announced a 50% levy on Brazilian goods effective August 1, citing unfair...
Gold prices rose marginally in Asian trade on Thursday and remained largely within a recently established trading range, while U.S. copper prices extended their rally after President Donald Trump confirmed his plans to tariff the red metal. Broader metal prices gained ground as the dollar fell amid mixed signals on just when the Federal Reserve will cut interest rates further. But the greenback still maintained a bulk of its recent rebound from three-year lows. Spot gold rose 0.3% to $3,323.72 an ounce, while gold futures for September rose 0.3% to $3,332.45/oz by 01:34 ET (05:34...
The USD/CHF pair rebounds a few pips from a fresh weekly low touched during the Asian session on Thursday and for now, seems to have stalled this week's slide from the vicinity of the 0.8000 psychological mark. Spot prices, however, lack bullish conviction and currently trade around the 0.7940 region, unchanged for the day amid mixed cues. Asian stocks tracked the overnight move up in the US equity markets, which, in turn, undermines demand for the safe-haven Swiss Franc (CHF). The US Dollar (USD), on the other hand, draws some support from diminishing odds for a rate cut by the Federal...
EUR/USD appreciates after registering mild losses in the previous session, trading around 1.1730 during the Asian hours on Thursday. The pair appreciates as the US Dollar (USD) loses ground following the latest Federal Open Market Committee (FOMC) Meeting Minutes and developments on US tariffs. FOMC Minutes from the June 17–18 meeting, released on Wednesday, indicated most Federal Reserve (Fed) officials considered a reduction in the fed funds rate likely to be appropriate at some point this year, noting that upward pressure on inflation from tariffs may be temporary or modest. Meanwhile,...
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...