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Yahoo
2 days ago
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Dollar Pressured by Expectations of a More Dovish Fed
The dollar index (DXY00) on Friday fell by -0.20%. The dollar moved lower on Friday but remained above Thursday's 1.5-week low. The dollar was under pressure after President Trump late Thursday nominated Stephen Miran to be a temporary replacement for Adrianna Kugler as Fed Governor. Miran is currently chairman of the Council of Economic Advisors and is seen as dovish and supporting President Trump's calls for lower interest rates. The dollar Friday was also undercut by strength in stocks, which reduces liquidity demand for the dollar. Higher T-note yields on Friday limited losses in the dollar. More News from Barchart Reports of Waller as New Fed Chair Seen as Dollar-Supportive Can Gold Reach Another New High in Q3 2025? Dollar Pushes Higher After US Labor Cost Report Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Comments on Friday from St. Louis Fed President Alberto Musalem were slightly hawkish and supportive of the dollar when he said the Fed is missing more on the inflation side of its dual mandate, so "Given the economy where it stands today, it seems appropriate for the Fed to maintain the policy rate at a constant for now." In recent tariff news, President Trump announced Wednesday that he will impose a 100% tariff on semiconductor imports. Still, companies would be eligible for exemptions if they demonstrate a commitment to building their products in the US. However, the US will levy a separate tax on imports of electronic products that employ semiconductors. Also, President Trump announced Wednesday that he will double tariffs on US imports from India to 50% from the current 25% tariff, due to India's purchases of Russian oil. On Tuesday, Mr. Trump said that US tariffs on pharmaceutical imports would be announced "within the next week or so." According to Bloomberg Economics, the average US tariff will rise to 15.2% if rates are implemented as announced, up from 13.3% earlier, and significantly higher than the 2.3% in 2024 before the tariffs were announced. Federal funds futures prices are discounting the chances for a -25 bp rate cut at 90% at the September 16-17 FOMC meeting and 61% at the following meeting on October 28-29. EUR/USD (^EURUSD) Friday fell by -0.12%. The euro posted modest losses on Friday and continued to struggle due to concerns that President Trump's tariff policies will curb economic growth in the Eurozone. Losses in the euro were limited on hopes for an end to the Russian-Ukrainian war after Bloomberg News reported that the US and Russia are aiming for a deal to end the war. Swaps are pricing in a 9% chance of a -25 bp rate cut by the ECB at the September 11 policy meeting. USD/JPY (^USDJPY) Friday rose by +0.39%. The yen retreated against the dollar Friday on concerns that US tariff policies will harm the Japanese economy. Also, Friday's economic news that showed weaker-than-expected Japanese household spending is dovish for BOJ policy and bearish for the yen. In addition, higher T-note yields on Friday were negative for the yen. The minutes of the July 30-31 BOJ meeting, released on Friday, were slightly hawkish and supportive of the yen, as a BOJ board member indicated that the BOJ may consider another interest rate hike by the end of the year, contingent upon the impact of US tariffs. Also, today's news showing the Japan Jul eco watchers outlook survey rose to a 6-month high is bullish for the yen. Japan's June household spending rose +1.3% y/y, weaker than expectations of +2.7% y/y. The Japan July eco watchers outlook survey rose +1.4 to a 6-month high of 47.3, stronger than expectations of 46.4. December gold (GCZ25) on Friday closed up +37.60 (+1.09%), and September silver (SIU25) closed up +0.248 (+0.65%). Precious metals rallied on Friday, with gold soaring to a 3.5-month high and silver climbing to a 2-week high. Friday's weaker dollar was supportive of metals. Precious metals also garnered demand as a store of value on Friday after President Trump nominated Stephen Miran to be a temporary replacement for Adrianna Kugler as Fed Governor. Miran is seen as dovish and supporting President Trump's calls for lower interest rates. In addition, gold prices soared on Friday due to concerns about supply disruptions, following a statement by the US Customs and Border Protection agency that one-kilogram and 100-ounce gold bars exported by Switzerland into the US face tariffs. However, gold prices fell more than -$30 an ounce in post-market trading Friday afternoon when the Trump administration said it will shortly issue an executive order to clarify that imports of gold bars should not face tariffs. Gold buying by China's central bank is also supportive of gold prices as the PBOC bought 60,000 troy ounces of gold for its reserves in July, the ninth consecutive month it has boosted its gold purchases. Fund buying of precious metals continues to support prices after gold holdings in ETFs rose to a two-year high on Thursday, and silver holdings in ETFs reached a three-year high on the same day. Precious metals still have safe-haven support on concerns that President Trump's tariff policies will weigh on global economic growth prospects. Finally, precious metals continue to receive safe-haven support from geopolitical risks, including the conflicts in Ukraine and the Middle East. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Reports of Waller as New Fed Chair Seen as Dollar-Supportive
The dollar index (DXY00) on Thursday rose by +0.23%. The dollar recovered from a 1.5-week low today and turned higher on reports that President Trump was seen as favoring Fed Governor Waller to be the new Fed Chair. The appointment of Waller as Fed Chair would ease market concerns about the Fed Chair being a yes man for President Trump, as Waller said back in April that the Fed's independence is "critical to the well-functioning of the US economy." Higher T-note yields on Thursday also supported the dollar. The dollar initially moved lower Thursday on a larger-than-expected increase in weekly US jobless claims, a dovish factor for Fed policy. Also, dovish comments from San Francisco Fed President Mary Daly weighed on the dollar when she said it may be appropriate for the Fed to cut interest rates in the "coming months." More News from Barchart Have Metals Gone Softs? Dollar Falls on Dovish Fed Comments Dollar Weakens on Dovish Fed Comments Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Also, questions about the Fed's credibility continue to weigh on the dollar after Fed Governor Adriana Kugler resigned last Friday, which could prompt President Trump to nominate a new governor who is more dovish and could undermine Fed Chair Powell's influence. US weekly initial unemployment claims rose +7,000 to 226,000, showing a weaker labor market than expectations of 222,000. Weekly continuing claims rose +38,000 to a 3.75-year high of 1.974 million, higher than expectations of 1.950 million and a sign that unemployed people are taking longer to secure new employment. US Q2 nonfarm productivity rose +2.4%, higher than expectations of +2.0%. Q2 unit labor costs rose +1.6%, slightly stronger than expectations of +1.5%. US Jun consumer credit rose by +$7.371 billion, slightly below expectations of +$7.500 billion. Late Wednesday, San Francisco Fed President Mary Daly said, "The labor market has softened, and I would see additional slowing as unwelcome. All this means that the Fed will likely need to adjust monetary policy in the coming months." Atlanta Fed President Raphael Bostic said he only sees one 25 bp rate cut by the Fed this year, as there are reasons to be skeptical that the inflationary effects from tariffs will be temporary. In recent tariff news, President Trump announced Wednesday that he will impose a 100% tariff on semiconductor imports. Still, companies would be eligible for exemptions if they demonstrate a commitment to building their products in the US. However, the US will levy a separate tax on imports of electronic products that employ semiconductors. Also, President Trump announced Wednesday that he will double tariffs on US imports from India to 50% from the current 25% tariff, due to India's purchases of Russian oil. On Tuesday, Mr. Trump said that US tariffs on pharmaceutical imports would be announced "within the next week or so." Last Thursday, President Trump raised tariffs on some Canadian goods to 35% from 25% and announced a 10% global minimum, along with tariffs of 15% or higher for countries with trade surpluses with the US, effective today. According to Bloomberg Economics, the average US tariff will rise to 15.2% if rates are implemented as announced, up from 13.3% earlier, and significantly higher than the 2.3% in 2024 before the tariffs were announced. Federal funds futures prices are discounting the chances for a -25 bp rate cut at 91% at the September 16-17 FOMC meeting and 64% at the following meeting on October 28-29. EUR/USD (^EURUSD) Thursday fell by -0.31%. The euro retreated from a 1.5-week high Thursday and moved lower on weaker-than-expected news on German industrial production. Also, the dollar's strength on Thursday weighed on the euro. In addition, the euro is struggling due to concerns that President Trump's tariff policies will curb economic growth in the Eurozone. The euro initially moved higher Thursday on hopes for an end to the Russian-Ukrainian war, with President Trump expected to meet with Russian President Putin in the next few days to discuss an end to the conflict. Also, Thursday's stronger-than-expected German trade news is supportive of the euro. German June industrial production fell by -1.9% m/m, weaker than expectations of -0.5% m/m and the largest decline in 11 months. German trade news was better than expected as German June exports rose +0.8% m/m, stronger than expectations of +0.4% m/m. Also, June imports rose +4.2% m/m, stronger than expectations of +0.8% m/m and the largest increase in 5 months. Swaps are pricing in a 12% chance of a -25 bp rate cut by the ECB at the September 11 policy meeting. USD/JPY (^USDJPY) Thursday rose by +0.09%. The yen moved slightly lower against the dollar Thursday after Japan's Cabinet Office cut its Japanese 2025 GDP estimate. Also, concerns that US tariff policies will harm the Japanese economy are weighing on the yen. In addition, higher T-note yields on Thursday undercut the yen. Losses in the yen were limited after Japan's June leading index CI rose more than expected. The Japan June leading index CI rose +1.3 to 106.1, stronger than expectations of 106.0 Japan's Cabinet Office cut its Japanese 2025 GDP estimate to 0.7% from a January estimate of 1.2% and raised its CPI estimate to 2.4% from 2.0%. December gold (GCZ25) on Thursday closed up +20.30 (+0.59%), and September silver (SIU25) closed up +0.392 (+1.03%). Precious metals on Thursday settled higher, with gold posting a 2-week high and silver posting a 1.5-week high. Thursday's US weekly jobless claims report showed weakness in the US labor market, which is dovish for Fed policy and a bullish factor for precious metals. Also, dovish comments from San Francisco Fed President Mary Daly were supportive of the demand for precious metals as a store of value when she said it may be appropriate for the Fed to cut interest rates in the "coming months." Gold buying by China's central bank is also supportive of gold prices as the PBOC bought 60,000 troy ounces of gold for its reserves in July, the ninth consecutive month it has boosted its gold purchases. Finally, Thursday's action by the BOE to cut its official bank rate by -25 bp was supportive of precious metals. Gains in precious metals prices were limited due to the strength of the dollar. Also, an easing of geopolitical risks has curbed some safe-haven demand for precious metals on news that Presidents Trump and Putin will meet in the next few days to discuss ending the war in Ukraine. Precious metals still have safe-haven support on concerns that President Trump's tariff policies will weigh on global economic growth prospects. Finally, precious metals continue to receive safe-haven support from geopolitical risks, including the conflicts in Ukraine and the Middle East. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Dollar Falls on Dovish Fed Comments
The dollar index (DXY00) on Wednesday fell by -0.61% to a 1-week low. Hawkish comments from ECB Governing Council member Holzmann on Wednesday boosted EUR/USD to a 1-week high, undercutting the dollar, as he stated there is no need for the ECB to cut interest rates further. The dollar was also under pressure from increased expectations for a Fed rate cut after the recent weaker-than-expected US payroll and PMI reports. Losses in the dollar accelerated Wednesday on dovish comments from Minneapolis Fed President Neel Kashkari and Fed Governor Lisa Cook, who signaled their support for interest rate cuts. More News from Barchart Dollar Little Changed on Weak US Service Sector News Dollar Recovers with Bond Yields Dollar Weakens on Dovish Fed Comments Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! Also, questions about the Fed's credibility continue to weigh on the dollar after Fed Governor Adriana Kugler resigned last Friday, which could prompt President Trump to nominate a new governor who is more dovish and could undermine Fed Chair Powell's influence. Minneapolis Fed President Neel Kashkari said, 'The economy is slowing and in the near term it may become appropriate to start adjusting the federal funds rate lower.' Fed Governor Lisa Cook said last Friday's US July jobs report is 'concerning' and that 'the revisions are somewhat typical of turning points' in the US economy. In recent tariff news, President Trump announced today that he will double tariffs on US imports from India to 50% from the current 25% tariff, due to India's purchases of Russian oil. On Tuesday, Mr. Trump said that US tariffs on semiconductor and pharmaceutical imports would be announced 'within the next week or so.' Last Thursday, President Trump raised tariffs on some Canadian goods to 35% from 25% and announced a 10% global minimum, along with tariffs of 15% or higher for countries with trade surpluses with the US, effective after midnight on August 7. According to Bloomberg Economics, the average US tariff will rise to 15.2% if rates are implemented as announced, up from 13.3% earlier, and significantly higher than the 2.3% in 2024 before the tariffs were announced. Federal funds futures prices are discounting the chances for a -25 bp rate cut at 95% at the September 16-17 FOMC meeting and 68% at the following meeting on October 28-29. EUR/USD (^EURUSD) Wednesday rose by +0.75% to a 1-week high. The euro rallied Wednesday on hawkish comments from ECB Governing Council member Holzmann, who said he sees no reason for the ECB to cut interest rates again. Gains in the euro accelerated Wednesday after the dollar tumbled on dovish comments from Minneapolis Fed President Neel Kashkari and Fed Governor Lisa Cook, who signaled their support for interest rate cuts. On the bearish side for the euro was Wednesday's Eurozone economic news that showed German June factory orders unexpectedly posted their biggest decline in 5 months. Also, the euro is struggling due to concerns that President Trump's tariff policies will curb economic growth in the Eurozone. Eurozone June retail sales rose +0.3% m/m, right on expectations. German June factory orders unexpectedly fell -1.0% m/m, weaker than expectations of a +1.1% m/m increase and the biggest decline in 5 months. ECB Governing Council member Holzmann said, 'In my view, there is no longer any reason for the ECB to lower interest rates further and we should wait and see what economic developments arise, particularly outside Europe, and how we respond to them.' Swaps are pricing in a 12% chance of a -25 bp rate cut by the ECB at the September 11 policy meeting. USD/JPY (^USDJPY) Wednesday fell by -0.37%. The yen strengthened against the dollar Wednesday after Japan's nominal wages in June accelerated from May, a hawkish factor for BOJ policy. Higher T-note yields on Wednesday limited gains in the yen. Also, the yen has negative carryover from Tuesday when the minutes of the June 16-17 BOJ meeting showed policymakers were concerned about ending its QE program too quickly. Japan's June labor cash earnings rose +2.5% y/y from +1.4% y/y in May, although weaker than expectations of +3.1% y/y. December gold (GCZ25) on Wednesday closed down -1.30 (-0.04%), and September silver (SIU25) closed up +0.079 (+0.21%). Precious metals settled mixed on Wednesday. The decline in the dollar index to a 1-week low on Wednesday was bullish for metals. Also, dovish Fed comments on Wednesday from Minneapolis Fed President Neel Kashkari and Fed Governor Cook were bullish for precious metals as they signaled their support for interest rate cuts. Demand for precious metals as a store of value has increased after recent weaker-than-expected US economic news may prompt the Fed to cut interest rates as soon as next month. The chance of a Fed interest rate cut at the September FOMC meeting has risen to 95% on Wednesday from 40% last Friday. Gains in precious metals prices were limited, and gold turned lower Wednesday on hawkish comments from ECB Governing Council member Holzmann, who said there is no longer any reason for the ECB to lower interest rates further. Also, strength in stocks and higher T-note yields on Wednesday weighed on precious metals. Precious metals still have safe-haven support on concerns that President Trump's tariff policies will weigh on global economic growth prospects. Finally, precious metals continue to receive safe-haven support from geopolitical risks, including the conflicts in Ukraine and the Middle East. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
4 days ago
- Business
- Yahoo
Dollar Weakens on Dovish Fed Comments
The dollar index (DXY00) today is down by -0.37% at a 1-week low. Hawkish comments today from ECB Governing Council member Holzmann boosted EUR/USD to a 1-week high and undercut the dollar when he said he sees no need for the ECB to cut interest rates further. The dollar is also under pressure from increased expectations for a Fed rate cut after the recent weaker-than-expected US payroll and PMI reports. The dollar dropped to its lows today after Minneapolis Fed President Neel Kashkari said it may be appropriate to cut interest rates in the near term. Also, questions about the Fed's credibility continue to weigh on the dollar after Fed Governor Adriana Kugler resigned last Friday, which could prompt President Trump to nominate a new governor who is more dovish and could undermine Fed Chair Powell's influence. More News from Barchart Dollar Little Changed on Weak US Service Sector News Dollar Recovers with Bond Yields Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Minneapolis Fed President Neel Kashkari said, "The economy is slowing and in the near term it may become appropriate to start adjusting the federal funds rate lower." In recent tariff news, President Trump said Tuesday that US tariffs on semiconductor and pharmaceutical imports would be announced "within the next week or so." On Monday, Mr. Trump said that he would be "substantially raising" the tariff on US imports from India from the current 25% due to India's purchases of Russian oil. Last Thursday, President Trump raised tariffs on some Canadian goods to 35% from 25% and announced a 10% global minimum, along with tariffs of 15% or higher for countries with trade surpluses with the US, effective after midnight on August 7. According to Bloomberg Economics, the average US tariff will rise to 15.2% if rates are implemented as announced, up from 13.3% earlier, and significantly higher than the 2.3% in 2024 before the tariffs were announced. Federal funds futures prices are discounting the chances for a -25 bp rate cut at 94% at the September 16-17 FOMC meeting and 64% at the following meeting on October 28-29. EUR/USD (^EURUSD) today is up by +0.44% at a 1-week high. The euro is moving higher today on hawkish comments from ECB Governing Council member Holzmann, who said he sees no reason for the ECB to cut interest rates again. Gains in the euro are limited after German June factory orders unexpectedly posted their biggest decline in 5 months. Also, the euro is struggling due to concerns that President Trump's tariff policies will curb economic growth in the Eurozone. Eurozone June retail sales rose +0.3% m/m, right on expectations. German June factory orders unexpectedly fell -1.0% m/m, weaker than expectations of a +1.1% m/m increase and the biggest decline in 5 months. ECB Governing Council member Holzmann said, "In my view, there is no longer any reason for the ECB to lower interest rates further and we should wait and see what economic developments arise, particularly outside Europe, and how we respond to them." Swaps are pricing in a 13% chance of a -25 bp rate cut by the ECB at the September 11 policy meeting. USD/JPY (^USDJPY) today is down by -0.16%. The yen strengthened today against the dollar after Japan's nominal wages in June accelerated from May, a hawkish factor for BOJ policy. Gains in the yen are limited by higher T-note yields. Also, the yen has negative carryover from Tuesday when the minutes of the June 16-17 BOJ meeting showed policymakers were concerned about ending its QE program too quickly. Japan's June labor cash earnings rose +2.5% y/y from +1.4% y/y in May, although weaker than expectations of +3.1% y/y. December gold (GCZ25) today is down -5.80 (-0.17%), and September silver (SIU25) is up +0.117 (+0.31%). Precious metals today are mixed. Today's fall in the dollar index to a 1-week low is bullish for metals. Also, dovish comments today from Minneapolis Fed President Neel Kashkari were bullish for precious metals when he said it may be appropriate to cut interest rates in the near term. Demand for precious metals as a store of value has increased after recent weaker-than-expected US economic news may prompt the Fed to cut interest rates as soon as next month. The chance of a Fed interest rate cut at the September FOMC meeting has risen to 94% today from 40% last Friday. Gains in precious metals prices are limited, and gold turned lower today on hawkish comments from ECB Governing Council member Holzmann, who said there is no longer any reason for the ECB to lower interest rates further. Higher T-note yields today are also weighing on precious metals. Precious metals still have safe-haven support on concerns that President Trump's tariff policies will weigh on global economic growth prospects. Finally, precious metals continue to receive safe-haven support from geopolitical risks, including the conflicts in Ukraine and the Middle East. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
4 days ago
- Business
- Yahoo
Dollar Little Changed on Weak US Service Sector News
The dollar index (DXY00) on Tuesday rose by +0.03%. The dollar posted slight gains on Tuesday on some mild short covering after last Friday's and Monday's losses. Higher T-note yields on Tuesday were supportive of the dollar. Also, Tuesday's news that showed the US Jun trade deficit shrank to a 1.75-year low was bullish for the dollar. The dollar gave up most of its advance Tuesday after the Jul ISM services index unexpectedly declined. Also, dovish comments late Monday from San Francisco Fed President Mary Daly were bearish for the dollar when she said the time is nearing for Fed interest rate cuts with the labor market softening and no signs of tariff-induced inflation. The dollar still has a negative carryover from last Friday's weaker-than-expected US payroll and ISM manufacturing reports, which bolstered speculation that the Fed may cut interest rates as soon as next month. More News from Barchart What Traders Can Learn from the Copper Price Crash Dollar Falls with Bond Yields on Fed Rate Cut Speculation Dollar Under Pressure as Fed Rate Cut Expectations Increase Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! Also, questions about the Fed's credibility are weighing on the dollar after Fed Governor Adriana Kugler resigned last Friday, which could prompt President Trump to nominate a new governor who is more dovish and could undermine Fed Chair Powell's influence. The US Jun trade deficit shrank to -$60.2 billion from -$71.7 billion in May, better than expectations of -$61.0 billion and the smallest deficit in 1.75 years. The US Jul ISM services index unexpectedly fell -0.7 to 50.1, weaker than expectations of an increase to 51.5. The Jul ISM services prices paid sub-index unexpectedly rose +2.4 to a 2.75-year high of 69.9, versus expectations of a decline to 66.5. Federal funds futures prices are discounting the chances for a -25 bp rate cut at 94% at the September 16-17 FOMC meeting and 62% at the following meeting on October 28-29. EUR/USD (^EURUSD) Tuesday fell by -0.02%. The euro posted modest losses Tuesday due to a slightly stronger dollar. Also, Tuesday's downward revision to the Eurozone Jul S&P composite PMI was bearish for the euro. In addition, the euro is struggling due to concerns that President Trump's tariff policies will curb economic growth in the Eurozone. The Eurozone Jul S&P composite PMI was revised downward by -0.1 to 50.9 from the previously reported 51.0. Swaps are pricing in a 16% chance of a -25 bp rate cut by the ECB at the September 11 policy meeting. USD/JPY (^USDJPY) Tuesday rose by +0.41%. The yen fell from a 1.5-week high against the dollar on Tuesday and turned lower after the minutes of the June 16-17 BOJ meeting showed policymakers were concerned about ending its QE program too quickly. Also, Tuesday's decline in the 10-year JGB Japanese government bond yield to a 4-week low of 1.465% weakened the yen's interest rate differentials. In addition, higher T-note yields on Tuesday weighed on the yen. The Japan Jul S&P composite PMI was revised upward by +0.1 to 51.6 from the previously reported 51.5. The minutes of the June 16-17 BOJ meeting were slightly dovish as many board members held the view that if the BOJ cuts its buying of Japanese government bonds too quickly, it might have an unforeseen impact on market stability. December gold (GCZ25) on Tuesday closed up +8.30 (+0.24%), and September silver (SIU25) closed up +0.495 (+1.33%). Precious metals settled higher on Tuesday. Dovish comments from San Francisco Fed President Mary Daly gave precious metals a boost when she said the time is nearing for Fed interest rate cuts. Also, demand for gold as an inflation hedge rose Tuesday on signs of price pressures after the July ISM services prices paid sub-index unexpectedly rose +2.4 to a 2.75-year high of 69.9. Precious metals have carryover support from last Friday's weaker-than-expected US July payroll and July ISM manufacturing reports, which boosted speculation that the Fed may cut interest rates as soon as next month. The chance of a Fed interest rate cut at the September FOMC meeting has risen to 94% Tuesday from 40% last Friday. Precious metals prices also have safe-haven support on concerns that President Trump's tariff policies will weigh on global economic growth prospects. Finally, precious metals continue to receive safe-haven support from geopolitical risks, including the conflicts in Ukraine and the Middle East. However, Tuesday's stronger dollar and higher T-note yields limited gains in precious metals. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Melden Sie sich an, um Ihr Portfolio aufzurufen.
