Latest news with #MinneapolisFederalReserve
Yahoo
27-05-2025
- Business
- Yahoo
Gold prices sink as Trump EU tariff delay spurs some risk, yields retreat
Gold prices fell in Asian trade on Tuesday, extending recent declines after U.S. President Donald Trump's postponement of steep trade tariffs on Europe helped buoy risk appetite. The yellow metal was also pressured by some signs of stability in the bond market, as major government bond yields retreated in Asian trade after a sharp run-up in recent sessions. Still, gold's overall losses were limited by persistent weakness in the dollar. But broader metal prices also lost ground after strong gains through the past week. Spot gold fell 0.5% to $3,326.53 an ounce, while gold futures for August fell 1.2% to $3,353.09/oz by 01:30 ET (05:30 GMT). Gold was pressured chiefly by some improving risk appetite after Trump delayed plans to immediately impose 50% tariffs on the European Union. Trump said the tariffs will kick-in by early-July, when the rest of his planned reciprocal tariffs are also set to take effect. The move offered some relief to markets fearing a worsening in global trade conditions, and sparked buying into risk-driven assets. U.S. stock index futures rose sharply on Tuesday, although volumes were dulled by a U.S. holiday on Monday. But despite this week's losses, gold still remained relatively underpinned by concerns over the long-term impact of Trump's tariffs. Minneapolis Federal Reserve President Neel Kashkari warned on Monday that the tariffs were likely to spur a stagflationary shock for the U.S. economy, ie– an era of sluggish growth and high inflation. But he also said that the Fed was unlikely to cut rates in the near-term, helping spur some buying in battered U.S. Treasuries. Broader metal prices fell on Tuesday, amid some buying into government bonds after a sharp selldown in the sector over the past week. A Moody's downgrade to the U.S. sovereign rating, coupled with the progress of a divisive tax cut bill in Congress, sparked heightened concerns over high government debt levels. These concerns sparked an extended selldown in Treasuries, sending yields up sharply. But yields were seen coming down from recent peaks on Tuesday, while the dollar steadied, pressuring metal prices. Platinum futures fell 1.1% to $1,079.50/oz, while silver futures fell 1.2% to $33.265/oz. Both metals were also subject to some profit-taking after clocking strong gains in the past week. Among industrial metals, benchmark copper futures on the London Metal Exchange fell 0.6% to $9,562.80 a ton, while U.S. copper futures fell 1.6% to $4.7730 a pound. Related articles Gold prices sink as Trump EU tariff delay spurs some risk, yields retreat Oil prices dip slightly in thin holiday trading Gold prices pull back as Trump postpones EU tariffs Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
See - Sada Elbalad
26-05-2025
- Business
- See - Sada Elbalad
Weak Dollar ,Geopolitical Concerns Limit Gold's Decline in Global Markets
Waleed Farouk Gold prices declined in local markets during trading on Monday, with the ounce declining on the global stock exchange, affected by declining demand and easing concerns about global trade disruptions. Gold prices fell in local markets by EGP 45 during trading today, compared to the closing price of the week last Saturday evening. The price of 21-karat gold reached EGP 4,665 per gram, while the price of an ounce fell by $28 to $3,330. The price of 24-karat gold reached EGP 5,331 per gram, while the price of 18-karat gold reached EGP 3,999 per gram. The price of 14-karat gold reached EGP 3,110 per gram, and the price of the gold pound reached EGP 37,320 per gram. Gold prices in local markets rose by 3.7%, or EGP 170, during last week's trading. The price of a gram of 21-karat gold opened at EGP 4,540 and closed at EGP 4,710. Meanwhile, an ounce rose by 4.5%, or $154, opening at $3,204 and closing at $3,358. Gold markets are witnessing a significant decline in demand during the current period, affected by rising prices and changes in consumer behavior. The rise in local gold prices, driven by rising global prices and the decline in the value of the Egyptian pound, has led to consumers refraining from purchasing. Economic uncertainty and exchange rate fluctuations have also contributed to this decline. Despite the current decline, some analysts expect domestic demand for gold in Egypt to increase in the coming period, driven by changes in economic policies and global market developments. Gold prices declined in global markets, affected by US President Donald Trump's decision to extend the deadline for imposing tariffs on European Union imports until July 9. This eased trade tensions and led to a decline in demand for gold as a safe haven. This decline came after President Trump announced a postponement of the imposition of 50% tariffs on imports from the European Union. Investor concerns about the US fiscal situation and the impact of Trump's comprehensive debt bill on debt inflation limited gold's decline. However, gold's decline remains limited, supported by ongoing concerns about the US fiscal situation. The Congressional Budget Office expects the US federal budget deficit to expand by $4 trillion over the next decade, driven by recent tax cuts and spending increases. This growing deficit has pressured the dollar to its lowest level in a month, indirectly boosting gold, which remains attractive in a low interest rate environment. Minneapolis Federal Reserve President Neel Kashkari recently warned that prolonged tariff policies could herald stagflation, reinforcing market expectations of a dovish shift from the central bank. While trade delays have eased market anxiety, broader geopolitical tensions continue to support safe-haven assets. Escalating conflicts in Eastern Europe and ongoing unrest in the Middle East have supported demand for gold and silver as investors hedge against uncertainty. In the near term, traders are likely to remain cautious, awaiting clarification from Wednesday's Federal Open Market Committee meeting minutes, which could provide additional insights into the Fed's timeline for interest rate cuts. In related news, markets are also awaiting the release of durable goods orders data, the minutes from the Fed's last meeting, the second estimate of gross domestic product, and the Fed's preferred inflation measure, the core personal consumption expenditures price index. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
Axios
14-04-2025
- Business
- Axios
Minnesota's community college surge
Minnesota's college and university enrollment has almost completely rebounded from its COVID-era lows — and a new Minneapolis Federal Reserve report suggests community colleges are a big reason why. The big picture: Demand for two-year degree or certificate programs is skyrocketing as students balk at high tuition costs, regional higher ed leaders told the Fed. By the numbers: Between fall 2023 and 2024, enrollment in Minnesota's two-year colleges rose 11.5%, according to estimates from the National Student Clearinghouse. Across institutions, enrollment is now nearly 294,000 students — just 3,000 shy of its 2019 level. The intrigue: The increase came in the first year Minnesota guaranteed tuition-free public college for low-income families.
Forbes
11-04-2025
- Business
- Forbes
Trump's Tariffs Send Dollar To 3-Year Low And Gold Prices To Another Record—Here's What It Means
The U.S. dollar slipped Friday to its lowest level since April 2022 while gold shot up to another all-time high, reflecting a sustained shift in safe haven preference among many investors and central banks as President Donald Trump's tariffs shake the global status quo. The dollar has weakened by 8% in 2025—meanwhile, gold prices have soared by 23% as investors and ... More central banks rethink safe haven assets. The Dollar Index (DXY), which tracks the greenback against a weighted basket of six foreign currencies including the Euro and the Japanese yen, fell as much as 1.8% to 99.01 Friday. That extended the dollar's year-to-date decline to more than 8%, with much of the loss concentrated following Trump's 'Liberation Day' tariff announcement last Wednesday, as the dollar is down 4% since last Wednesday, when the DXY closed at 103.81. The recent dollar move comes as the U.S. bond and stock markets have both slid—the S&P 500 is down 8% since Wednesday as 10-year Treasury yields jumped by nearly 40 basis points to a two-month high (higher yields mean less valuable bonds)—and the currency's decline is a reflection of investors' discomfort with dollar exposure as Trump isolates the U.S. economy. 'Normally, when you see big tariff increases, I would have expected the dollar to go up,' Minneapolis Federal Reserve President Neel Kashkari said Friday on CNBC's 'Squawk Box,' adding, 'the fact that the dollar is going down at the same time, I think, lends some more credibility to the story of investor preferences shifting.' 'What is potentially being compromised is the post World War II order of international finance where the dollar has been the central pillar' of the global economy, Bhanu Baweja, UBS Investment Bank's chief strategist, said in a call with media Monday. The 'Trump administration has compromised' the decades-long order of agreements on military and trade tethered to the dollar, added Baweja. As the dollar has faltered, gold has surged as the preeminent spot for investors looking for safe parking. Spot gold prices hit a new record of about $3,260 per troy ounce Friday, extending its year-to-date gain to 23%. Gold is a popular option in times of heightened macroeconomic and geopolitical turmoil for its lengthy history as a store of value across societies and regimes. More than half (57.8%) of the $12.4 trillion in global foreign exchange reserves were U.S. dollars, according to the International Monetary Fund, solidifying the greenback's status as the global reserve currency. The dollar may be at its weakest level in three years, but it's far from historically weak, sitting well within its 2016 to 2021 range before inflation and Russia's war in Ukraine strengthened the currency. The dollar is still about 40% higher than it was at its Great Recession nadir in 2008. Trump made clear in his first term he wants a weaker dollar, declaring in 2017 'our currency is too strong and it's killing us' and saying in 2019 he was not 'thrilled' with the 'strong dollar.' Trump explained in 2017 his belief the strong dollar makes it so 'our companies can't compete' in foreign markets as cheaper foreign currency makes American firms' prices in foreign markets less competitive, eating into margins of profits collected abroad. Trump has been less forthcoming on his thoughts on the dollar during his second term, but Treasury Secretary Scott Bessent said in February the Trump administration wants 'the dollar to be strong,' but what they 'don't want is other countries to weaken their currencies, to manipulate their trade.'
NBC News
07-02-2025
- Business
- NBC News
Minneapolis Fed's Kashkari expects lower interest rates later this year
Minneapolis Federal Reserve President Neel Kashkari said Friday he expects to see interest rates lower this year if the economic data continues to move in the same direction. In a CNBC interview, the central bank official expressed confidence that inflation will continue to drift down to the Fed's 2% target, while Friday's nonfarm payrolls report showed the labor market continues to look strong. 'Ultimately, our job is maximum employment and stable prices. If we see very good data on the inflation front while the labor market stays strong, then I think that would move me towards supporting easing further,' Kashkari said on 'Squawk Box.' 'I don't know why we'd have to keep rates where they were if we really saw inflation coming down quickly.' Headline inflation in December ran at a 2.6% annual rate, according to the Fed's preferred personal consumption expenditures price index. Excluding food and energy, core inflation was a bit higher, at 2.8%. That's still considerably above the central bank's 2% goal, though Kashkari said he expects housing-related data, particularly on rents, to ease through the year and eventually bring prices back to target. Kashkari is not a voter this year on the rate-setting Federal Open Market Committee but will vote in 2026. 'We will get inflation down to 2%. We're committed to that,' he said. However, Kashkari's colleagues in recent days have expressed some concern over what fiscal policy could do to the inflation picture. President Donald Trump has pushed aggressive tariffs against the largest U.S. trading partners, and some economists worry that they could reignite inflation if they trigger a trade war. 'We'll have to see where what that uncertainty looks like. What's the range of the negotiation that's taking place?' he said. 'Obviously tariffs are hard, because it's not simply what we do in America, it's how other countries respond and the back and forth.' Markets largely expect the Fed to be on hold until at least June. The Fed at its meeting in late January voted to keep its benchmark borrowing rate steady after a full percentage point of cuts in 2024. 'My colleagues and I basically have said we need to wait and see. We don't know enough information about what's going to be announced,' Kashkari said. 'The good news is ... the economy is in a good place. So, we're in a very good place to just sit here until we get a lot more information on the tariff front, on the immigration front, on the tax front, etc. All of those are going to be important.'
