All articles tagged with #us rate cut
Gold prices surged past $3,500 to hit a record high, driven by expectations of a US Federal Reserve interest rate cut and ongoing safe-haven demand amid geopolitical and economic uncertainties, with traders awaiting US non-farm payroll data to confirm the move.
Gold prices surged past $3,500 per ounce to a record high, driven by expectations of a US interest rate cut, a weaker dollar, and ongoing geopolitical uncertainties, with traders betting a 90% chance of a rate cut this month.
Gold prices neared record highs, driven by expectations of US interest rate cuts and a weaker dollar, while silver reached a 14-year high above $40 per ounce, supported by low yields and supply constraints.
Asian shares rose as US rate cut expectations persisted, while oil held onto gains following attacks by Houthi militants in the Red Sea. The Bank of Japan's decision to maintain its policy and negative interest rates further boosted risk appetite. European markets are expected to open higher. The yen remained weak, and Japanese yields continued to decline. Wall Street also closed higher, with the Dow Jones reaching a new all-time high. However, analysts warn of a challenging macro backdrop for share markets next year. Oil prices were affected by concerns over disruptions in the Red Sea, while commodity currencies like the Australian dollar performed well.
Traders are increasing their bets on a US interest rate cut despite Federal Reserve Chairman Jay Powell's pushback against such expectations. Market participants are pricing in a 100% chance of a rate cut in July, as concerns over global growth and trade tensions persist. Powell, however, emphasized the Fed's independence and stated that the central bank would act as appropriate to sustain the economic expansion, but did not explicitly signal an imminent rate cut.