United States (US) President Donald Trump and Russian President Vladimir Putin concluded an initial face-to-face meeting in Alaska late Friday, with both parties delivering mutually inconclusive statements. Trump and Putin both delivered vague promises of "progress" on multiple fronts, but initial details remain light. Now, President Trump will be pivoting to hand-delivering Russia's peace proposals on Ukraine to both the Ukrainian and European Union government bodies. Key Putin highlightsMeeting has been long overdue.Ukraine situation was one of key issues.Ukraine war is a tragedy, great...
The dollar dropped against the yen and hovered around multi-year lows versus the euro and the Swiss franc on Tuesday as President Donald Trump's attacks on the Federal Reserve raised concerns about the central bank's independence. Analysts said the dollar was left in an especially fragile state amid market concerns over the U.S. administration's tariffs, which could trigger a global trade war. Doubts about Fed independence threaten the dollar's value as a reserve currency, with analysts noting possible divestments from what many consider over-exposure to U.S. assets. The U.S. currency...
Oil prices rose on Tuesday as investors took advantage of the previous day's losses to cover short positions, though concerns persist over economic headwinds from tariffs and U.S. monetary policy that could dampen fuel demand. Brent crude futures rose 90 cents, or 1.4%, to $67.16 a barrel by 0901 GMT. The U.S. West Texas Intermediate crude contract for May , which expires on Tuesday, was up 97 cents, or 1.5%, at $64.05. The more actively traded WTI June contract gained 92 cents, or 1.5%, to $63.33. The Brent and WTI benchmarks dropped more than 2% on Monday, as signs of progress in...
The US president's attacks on Fed Chair Jay Powell are intensifying. And the dollar is weakening accordingly. The President of the United States is not well versed in conventional forms of politeness. We also know that he prefers a loose monetary policy. Don't be confused by the smokescreens put up by his economic advisor Kevin Hassett: Of course, this preference is neither new nor unique. What is new and unique, however, is that the US President really might fire Chair Powell, unlike during his first term in office. Hassett has confirmed that the White House is considering this,...
Gold price (XAU/USD) shows no signs of fatigue and extends its rally higher yet again, hitting another record high at $3,500 in early Asian trading on Tuesday. However, price action is cooling off a bit, and Gold dips back to around $3,460 at the time of writing due to some profit taking at the psychological level. Several markets across the globe are returning to normal trading regimes after the holiday-infused Easter price action, with Good Friday and Easter Monday seeing reduced trading volumes due to bank holidays. This week's rally is being fueled by mounting uncertainty and pressure...
Gold prices briefly broke above $3,500 per ounce to an all-time high on Tuesday, after U.S. President Donald Trump criticised Federal Reserve Chair Jerome Powell, rattling investors and increasing demand for the safe-haven asset. Spot gold was up 1.5% at $3,474.41 an ounce by 0743 GMT, after earlier rising as far as $3,500.05. U.S. gold futures gained 1.8% to $3,485.10. "The latest leg of the rally was triggered by President Donald Trump's public attack on Federal Reserve Chairman Jerome Powell," said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany. "As political...