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 prices experienced a slight decline at the beginning of this week, amid rising geopolitical tensions and changes in US trade policy. The decline occurred after US President Donald Trump hinted that he would impose an additional 10% tariff on countries that side with the BRICS group. The threat encouraged the strengthening of the US dollar, which in turn pressured gold prices. Gold bullion fell by 0.9%, trading near $3,306 per ounce. Investors are now monitoring the direction of US trade policy ahead of the tariff deadline on July 9. Treasury Secretary Scott Bessent signaled a possible...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook. Brent slid as much as 1.6% toward $67 a barrel after falling 0.7% on Friday, and West Texas Intermediate was below $66. The group led by Saudi Arabia decided on Saturday to increase supply by 548,000 barrels a day, putting OPEC+ on track to unwind its most recent output cuts a year earlier than planned. Alliance officials cited summer demand as one reason for their optimism that the extra barrels could be...
The Australian Dollar (AUD) loses ground against the US Dollar (USD) on Monday, continuing its losing streak for the third successive session. The AUD/USD pair depreciates due to renewed tariff concerns as US President Donald Trump may send out 12 or 15 letters on tariffs later in the day, with expecting that trade deals or letters with most nations will be done by July 9. ANZ Job Advertisements increased by 1.8% in June after a decline of 1.2% in May. The data presents the number of job advertisements in the major metropolitan newspapers and on the internet sites in Australia. The...
Gold edges lower in the early Asian session on possible position adjustments, but losses may be limited by concerns over U.S. policies. With this Wednesday's deadline for the 90-day pause on so-called reciprocal tariffs looming, President Trump said Sunday that a dozen or more letters could go out this week. Meanwhile, Trump signed his "one big, beautiful bill" into law in a July 4th ceremony. A key factor supporting gold is the damaging U.S. policy, which is eroding investors' confidence in safe U.S. assets, says Commerzbank Research's head of FX and Commodity Research Thu Lan Nguyen in a...
World oil prices fell again after OPEC+ announced a larger-than-expected increase in production starting next month. The group of oil producing countries led by Saudi Arabia agreed to increase supply by 548,000 barrels per day, which immediately sparked concerns about oversupply in the global market. This caused Brent oil prices to fall by 1.6% to $67 per barrel. The decision was announced on Saturday, as part of OPEC+'s strategy to adjust production to summer demand. This increase in production is much higher than market expectations, which previously estimated an additional 411,000...
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...