FOMC

US Fed official favors 4 interest rate hikes this year

Washington - AFP

A US central banker said on Wednesday he favors four increases in the key interest rate this year, one more than projected by the majority of Federal Reserve policymakers. Boston Federal Reserve Bank President Eric Rosengren, previously known for supporting the Fed's ultra-accommodative policy, seems to have had a drastic change of opinion, and now is concerned about preventing theRead more

US Fed raises benchmark interest rate a quarter point

Washington - Arab Today

The US Federal Reserve on Wednesday raised the benchmark interest rate a quarter point, amid rising inflation, the second increase since President Donald Trump's election and only the third in a decade. But Fed Chair Janet Yellen said policymakers had not yet discussed how the new president's policies might impact the economy and the pace of future rate hikes, norRead more

US dollar falls amid dovish comments on rate hike

New York - XINHUA

The U.S. dollar declined against most other major currencies on Monday as remarks by a key U.S. Federal Reserve official reduced expectations for a September rate hike. Fed Governor Lael Brainard, a voting member of the central bank's policymaking committee, said in a speech in Chicago on Monday that while economic progress continues, it would be wise for the FedRead more

US stocks rally after downbeat jobs report

New York - XINHUA

U.S. stocks traded lower in the morning session Friday, as investors believed that the possibility of a September rate hike became lower following the release of a disappointing nonfarm jobs report. Around midday, the Dow Jones Industrial Average rose 89.10 points, or 0.48 percent, to 18,508.40. The S&P 500 added 8.34 points, or 0.38 percent, to 2,179.20. The Nasdaq CompositeRead more

US stocks open lower ahead of Fed minutes

New York - XINHUA

U.S. stocks opened lower Wednesday, as investors became cautious ahead of the release of the U.S. Federal Reserve's minutes. Traders were awaiting the minutes of the Fed's July policy meeting scheduled for release Wednesday afternoon for more indications on the timing of the next interest rate hike. New York Fed President William Dudley, a voting member of the Federal OpenRead more

Gold up ahead of Fed meeting

Chicago - XINHUA

Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday ahead of the U.S. Federal Reserve's April Federal Open Market Committee (FOMC) meeting. The most active gold contract for June delivery rose 10.2 U.S. dollars, or 0.83 percent, to settle at 1,240.20 dollars per ounce. Source: XINHUARead more

Gold up ahead of Fed meeting

Chicago - XINHUA

Gold up after Fed minutes release

Chicago - XINHUA

Gold futures on the COMEX division of the New York Mercantile Exchange rose on Thursday as traders digested the minutes from the Federal Open Market Committee (FOMC) meeting, released after the market's close on Wednesday. The most active gold contract for June delivery rose 13.7 U.S. dollars, or 1.12 percent, to settle at 1,237.50 dollars per ounce. Gold settled higherRead more

Gold up on weaker US equities

Chicago - XINHUA

Gold futures on the COMEX division of the New York Mercantile Exchange rose on Tuesday as US equities showed weakness amid worse-than-expected U.S. data. The most active gold contract for June delivery rose 10.3 US dollars, or 0.84 percent, to settle at 1,229.60 dollars per ounce. US stocks opened lower and traded lower in the morning session Tuesday, analysts notedRead more