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...
EUR/USD fell on Monday (07/07) during the North American session amid a push to avoid risk, due to the escalating trade war, as US President Donald Trump began sending letters containing tariffs on several countries. This pushed the US dollar, hurting the common currency, which was trading at 1.1718, down 0.44%. Trump announced a 25% tariff on all Korean and Japanese products imported into the US. In addition, he imposed duties on Malaysia, Kazakhstan, Myanmar, Laos, and South Africa in the range of 25% to 40%. As the headlines broke, EUR/USD dropped to a six-day low of 1.1686. However,...
Oil rose more than 1% on Monday on signs of strong demand, shrugging off the impact of a bigger-than-expected OPEC+ output increase for August and concerns about the potential impact of U.S. tariffs. Brent crude futures rose 79 cents, or 1.2%, to $69.08 by 2:05 p.m. ET (18:05 GMT). U.S. West Texas Intermediate crude was at $67.29, up 29 cents, or 0.4%. The benchmarks had dropped to $67.22 and $65.40, respectively, earlier in the session. "The supply picture is clearly improving, however, stronger demand remains above expectations as well," Dennis Kissler, senior vice president of trading...
Gold prices posted minimal losses on Monday (07/07) as concerns about a possible resumption of trade wars mounted, following US President Donald Trump's announcement on his social media platforms of the first trade letters sent to South Korea and Japan, imposing duties on goods and products. At the time of writing, XAU/USD was trading at $3,333, down 0.06%. The trade war resumed after Trump announced a 25% tariff on all Korean and Japanese products shipped to the US, starting from August 1. US Treasury yields have risen as has the US Dollar. Gold prices have recovered but remain down as...
Oil rose 1% on Monday as signs of strong demand outweighed the impact of a bigger-than-expected OPEC+ output increase in August, as well as concerns about the potential impact of U.S. tariffs. Brent crude futures rose 91 cents, or 1.3%, to $69.20 by 12:20 p.m. ET (1620 GMT). U.S. West Texas Intermediate crude was at $67.57, up 57 cents, or 0.8%. The benchmarks had dropped to $67.22 and $65.40, respectively, earlier in the session. "The supply picture is clearly improving, however, stronger demand remains above expectations as well," Dennis Kissler, senior vice president of trading at BOK...
Gold fell as the dollar strengthened at the start of a potentially volatile week that will see U.S. trading partners scramble to finalize deals with the Trump administration ahead of a July 9 tariff deadline. Bullion fell as much as 1.2% an ounce before paring losses, while the dollar gauge rose 0.4%. President Donald Trump is expected to announce a trade deal and issue a tariff warning later Monday, as countries negotiated through the weekend to avoid the highest-ever levies on their U.S. exports before Wednesday's deadline. Trump had previously signaled that an additional 10% levy would...
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...