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The Advertiser
10 hours ago
- Business
- The Advertiser
Australian shares dip as Trump floats Iran deadline
The Australian share market is trading lower as Middle East strive continues and amid Donald Trump's two-week window to decide whether the US will join Israel's conflict with Iran. The S&P/ASX200 fell 56.2 points, or 0.67 per cent, to 8,466.9, as the broader All Ordinaries slipped 53.9 points, or 0.62 per cent, to 8,687.5. The slump came as the Middle East conflict weighed on investor sentiment and as thin trading conditions due to a US bank holiday sent European equities and US futures lower, market analyst Kyle Rodda said. All signs pointed to a weak finish for the ASX this week. "Like last week where hostilities were boiling over, market participants may be reluctant to hold onto risk exposure over the weekend when a historic US strike on Iran nuclear facilities is an uncomfortably high possibility," Mr Rodda said. Only two of 11 local sectors were trading higher by lunchtime, with both energy and IT stocks up 0.2 per cent. Financials weighed heavily on the bourse, down 1.3 per cent and wiping out Thursday's gains as the big four each lost between 1.2 per cent and 2.2 per cent. The slip came as expectations for a Reserve Bank interest rate cut in July fell from 86 per cent to 78 per cent. Likewise, rate-sensitive consumer-facing stocks were the next worst performing sectors, with discretionaries down 0.9 per cent and staples sinking 0.7 per cent. As attacks in Israel and Iran escalated overnight, oil prices spiked almost three per cent to $US77.50 a barrel, their highest level since January, before settling $US75.83 a barrel after Trump's deadline eased fears of an imminent US attack. Woodside was up a modest 0.5 per cent to $25.77 a share by midday. Materials stocks edged 0.1 per cent lower, as iron ore prices edged higher to take some pressure off large cap miners BHP, Rio Tinto and Fortescue. Gold continues to consolidate tightly to trade at around $US3,380 ($A5,125) an ounce. Australian gold miners were mixed, but larger players Northern Star and Newmont edged higher, while Evolution slipped 0.2 per cent days after multiple UBS downgrades indicated the sector's easy gains could be behind it. The Australian dollar is buying 64.76 US cents, up slightly from 64.71 US cents on Thursday at 5pm. The Australian share market is trading lower as Middle East strive continues and amid Donald Trump's two-week window to decide whether the US will join Israel's conflict with Iran. The S&P/ASX200 fell 56.2 points, or 0.67 per cent, to 8,466.9, as the broader All Ordinaries slipped 53.9 points, or 0.62 per cent, to 8,687.5. The slump came as the Middle East conflict weighed on investor sentiment and as thin trading conditions due to a US bank holiday sent European equities and US futures lower, market analyst Kyle Rodda said. All signs pointed to a weak finish for the ASX this week. "Like last week where hostilities were boiling over, market participants may be reluctant to hold onto risk exposure over the weekend when a historic US strike on Iran nuclear facilities is an uncomfortably high possibility," Mr Rodda said. Only two of 11 local sectors were trading higher by lunchtime, with both energy and IT stocks up 0.2 per cent. Financials weighed heavily on the bourse, down 1.3 per cent and wiping out Thursday's gains as the big four each lost between 1.2 per cent and 2.2 per cent. The slip came as expectations for a Reserve Bank interest rate cut in July fell from 86 per cent to 78 per cent. Likewise, rate-sensitive consumer-facing stocks were the next worst performing sectors, with discretionaries down 0.9 per cent and staples sinking 0.7 per cent. As attacks in Israel and Iran escalated overnight, oil prices spiked almost three per cent to $US77.50 a barrel, their highest level since January, before settling $US75.83 a barrel after Trump's deadline eased fears of an imminent US attack. Woodside was up a modest 0.5 per cent to $25.77 a share by midday. Materials stocks edged 0.1 per cent lower, as iron ore prices edged higher to take some pressure off large cap miners BHP, Rio Tinto and Fortescue. Gold continues to consolidate tightly to trade at around $US3,380 ($A5,125) an ounce. Australian gold miners were mixed, but larger players Northern Star and Newmont edged higher, while Evolution slipped 0.2 per cent days after multiple UBS downgrades indicated the sector's easy gains could be behind it. The Australian dollar is buying 64.76 US cents, up slightly from 64.71 US cents on Thursday at 5pm. The Australian share market is trading lower as Middle East strive continues and amid Donald Trump's two-week window to decide whether the US will join Israel's conflict with Iran. The S&P/ASX200 fell 56.2 points, or 0.67 per cent, to 8,466.9, as the broader All Ordinaries slipped 53.9 points, or 0.62 per cent, to 8,687.5. The slump came as the Middle East conflict weighed on investor sentiment and as thin trading conditions due to a US bank holiday sent European equities and US futures lower, market analyst Kyle Rodda said. All signs pointed to a weak finish for the ASX this week. "Like last week where hostilities were boiling over, market participants may be reluctant to hold onto risk exposure over the weekend when a historic US strike on Iran nuclear facilities is an uncomfortably high possibility," Mr Rodda said. Only two of 11 local sectors were trading higher by lunchtime, with both energy and IT stocks up 0.2 per cent. Financials weighed heavily on the bourse, down 1.3 per cent and wiping out Thursday's gains as the big four each lost between 1.2 per cent and 2.2 per cent. The slip came as expectations for a Reserve Bank interest rate cut in July fell from 86 per cent to 78 per cent. Likewise, rate-sensitive consumer-facing stocks were the next worst performing sectors, with discretionaries down 0.9 per cent and staples sinking 0.7 per cent. As attacks in Israel and Iran escalated overnight, oil prices spiked almost three per cent to $US77.50 a barrel, their highest level since January, before settling $US75.83 a barrel after Trump's deadline eased fears of an imminent US attack. Woodside was up a modest 0.5 per cent to $25.77 a share by midday. Materials stocks edged 0.1 per cent lower, as iron ore prices edged higher to take some pressure off large cap miners BHP, Rio Tinto and Fortescue. Gold continues to consolidate tightly to trade at around $US3,380 ($A5,125) an ounce. Australian gold miners were mixed, but larger players Northern Star and Newmont edged higher, while Evolution slipped 0.2 per cent days after multiple UBS downgrades indicated the sector's easy gains could be behind it. The Australian dollar is buying 64.76 US cents, up slightly from 64.71 US cents on Thursday at 5pm. The Australian share market is trading lower as Middle East strive continues and amid Donald Trump's two-week window to decide whether the US will join Israel's conflict with Iran. The S&P/ASX200 fell 56.2 points, or 0.67 per cent, to 8,466.9, as the broader All Ordinaries slipped 53.9 points, or 0.62 per cent, to 8,687.5. The slump came as the Middle East conflict weighed on investor sentiment and as thin trading conditions due to a US bank holiday sent European equities and US futures lower, market analyst Kyle Rodda said. All signs pointed to a weak finish for the ASX this week. "Like last week where hostilities were boiling over, market participants may be reluctant to hold onto risk exposure over the weekend when a historic US strike on Iran nuclear facilities is an uncomfortably high possibility," Mr Rodda said. Only two of 11 local sectors were trading higher by lunchtime, with both energy and IT stocks up 0.2 per cent. Financials weighed heavily on the bourse, down 1.3 per cent and wiping out Thursday's gains as the big four each lost between 1.2 per cent and 2.2 per cent. The slip came as expectations for a Reserve Bank interest rate cut in July fell from 86 per cent to 78 per cent. Likewise, rate-sensitive consumer-facing stocks were the next worst performing sectors, with discretionaries down 0.9 per cent and staples sinking 0.7 per cent. As attacks in Israel and Iran escalated overnight, oil prices spiked almost three per cent to $US77.50 a barrel, their highest level since January, before settling $US75.83 a barrel after Trump's deadline eased fears of an imminent US attack. Woodside was up a modest 0.5 per cent to $25.77 a share by midday. Materials stocks edged 0.1 per cent lower, as iron ore prices edged higher to take some pressure off large cap miners BHP, Rio Tinto and Fortescue. Gold continues to consolidate tightly to trade at around $US3,380 ($A5,125) an ounce. Australian gold miners were mixed, but larger players Northern Star and Newmont edged higher, while Evolution slipped 0.2 per cent days after multiple UBS downgrades indicated the sector's easy gains could be behind it. The Australian dollar is buying 64.76 US cents, up slightly from 64.71 US cents on Thursday at 5pm.
Perth Now
13 hours ago
- Business
- Perth Now
Australian shares dip as Trump floats Iran deadline
The Australian share market is trading lower as Middle East strive continues and amid Donald Trump's two-week window to decide whether the US will join Israel's conflict with Iran. The S&P/ASX200 fell 56.2 points, or 0.67 per cent, to 8,466.9, as the broader All Ordinaries slipped 53.9 points, or 0.62 per cent, to 8,687.5. The slump came as the Middle East conflict weighed on investor sentiment and as thin trading conditions due to a US bank holiday sent European equities and US futures lower, market analyst Kyle Rodda said. All signs pointed to a weak finish for the ASX this week. "Like last week where hostilities were boiling over, market participants may be reluctant to hold onto risk exposure over the weekend when a historic US strike on Iran nuclear facilities is an uncomfortably high possibility," Mr Rodda said. Only two of 11 local sectors were trading higher by lunchtime, with both energy and IT stocks up 0.2 per cent. Financials weighed heavily on the bourse, down 1.3 per cent and wiping out Thursday's gains as the big four each lost between 1.2 per cent and 2.2 per cent. The slip came as expectations for a Reserve Bank interest rate cut in July fell from 86 per cent to 78 per cent. Likewise, rate-sensitive consumer-facing stocks were the next worst performing sectors, with discretionaries down 0.9 per cent and staples sinking 0.7 per cent. As attacks in Israel and Iran escalated overnight, oil prices spiked almost three per cent to $US77.50 a barrel, their highest level since January, before settling $US75.83 a barrel after Trump's deadline eased fears of an imminent US attack. Woodside was up a modest 0.5 per cent to $25.77 a share by midday. Materials stocks edged 0.1 per cent lower, as iron ore prices edged higher to take some pressure off large cap miners BHP, Rio Tinto and Fortescue. Gold continues to consolidate tightly to trade at around $US3,380 ($A5,125) an ounce. Australian gold miners were mixed, but larger players Northern Star and Newmont edged higher, while Evolution slipped 0.2 per cent days after multiple UBS downgrades indicated the sector's easy gains could be behind it. The Australian dollar is buying 64.76 US cents, up slightly from 64.71 US cents on Thursday at 5pm.
The Advertiser
a day ago
- Business
- The Advertiser
Stocks tumble, safe havens gain as Mideast war flares
Global stocks have fallen and the dollar has risen as investors, concerned over the United States' possible entry into the Israel-Iran air war, seek safe-haven assets and ditch riskier ones. President Donald Trump kept the world guessing about whether the United States would join Israel's bombardment of Iranian nuclear sites, telling reporters outside the White House on Thursday, "I may do it. I may not do it." The Wall Street Journal reported that Trump had told senior aides he approved attack plans on Iran but was holding off on giving the final order to see if Tehran would abandon its nuclear programme. In Europe, stocks fell for a third day on Thursday, leaving the STOXX 600 down nearly 2.5 per cent on the week, set for its biggest week-on-week decline since the tariff-induced turmoil of April. US S&P 500 futures fell 0.6 per cent, although most US markets - including Wall Street and the Treasury market - will be closed on Thursday for a public holiday. "Market participants remain edgy and uncertain," said Kyle Rodda, senior financial markets analyst at Speculation was rife "that the US will intervene, something that would mark a material escalation and could invite direct retaliation against the US by Iran", he said. "Such a scenario would raise the risk of a greater regional conflict, with implications for global energy supply and probably economic growth." Much of the recent nervousness in markets has been centred around crude supply shocks from the Middle East, which has driven the price of crude oil up by 11 per cent in a week. Brent crude rose nearly one per cent to $US77.40 a barrel, close to its highest since January. Gold, which tends to struggle when the dollar gains, pared earlier losses to trade at $US3,366 an ounce. The dollar itself rose broadly, leaving the euro down 0.1 per cent at $US1.1466 and the Australian and New Zealand dollars - both risk-linked currencies - down 0.7 per cent and one per cent, respectively. Overnight, the Federal Reserve delivered some mixed signals to markets. Much to Trump's displeasure, policymakers held rates steady as expected and retained projections for two quarter-point rate cuts this year. However, Fed chair Jerome Powell struck a cautious note about further easing ahead, saying at his media conference later that he expected "meaningful" inflation ahead as a result of Trump's aggressive trade tariffs. Markets will now look to a string of central bank policy decisions out of Europe for any possible catalysts. The Swiss National Bank cut interest rates to zero, as expected, leaving the franc to drift as markets had priced in a roughly-20 per cent chance of a half-point cut. The franc, which has been a major beneficiary of safe-haven buying this year, was last steady against both the dollar, at 0.819 francs, and the euro at 0.9395 francs. The Bank of England is up next and is expected to keep UK rates unchanged. Data on Wednesday showed inflation cooled as expected in May, although food prices shot up and policymakers will be considering the potential impact from higher energy prices in light of the Israel-Iran war. Sterling edged 0.1 per cent lower to $US1.341. Global stocks have fallen and the dollar has risen as investors, concerned over the United States' possible entry into the Israel-Iran air war, seek safe-haven assets and ditch riskier ones. President Donald Trump kept the world guessing about whether the United States would join Israel's bombardment of Iranian nuclear sites, telling reporters outside the White House on Thursday, "I may do it. I may not do it." The Wall Street Journal reported that Trump had told senior aides he approved attack plans on Iran but was holding off on giving the final order to see if Tehran would abandon its nuclear programme. In Europe, stocks fell for a third day on Thursday, leaving the STOXX 600 down nearly 2.5 per cent on the week, set for its biggest week-on-week decline since the tariff-induced turmoil of April. US S&P 500 futures fell 0.6 per cent, although most US markets - including Wall Street and the Treasury market - will be closed on Thursday for a public holiday. "Market participants remain edgy and uncertain," said Kyle Rodda, senior financial markets analyst at Speculation was rife "that the US will intervene, something that would mark a material escalation and could invite direct retaliation against the US by Iran", he said. "Such a scenario would raise the risk of a greater regional conflict, with implications for global energy supply and probably economic growth." Much of the recent nervousness in markets has been centred around crude supply shocks from the Middle East, which has driven the price of crude oil up by 11 per cent in a week. Brent crude rose nearly one per cent to $US77.40 a barrel, close to its highest since January. Gold, which tends to struggle when the dollar gains, pared earlier losses to trade at $US3,366 an ounce. The dollar itself rose broadly, leaving the euro down 0.1 per cent at $US1.1466 and the Australian and New Zealand dollars - both risk-linked currencies - down 0.7 per cent and one per cent, respectively. Overnight, the Federal Reserve delivered some mixed signals to markets. Much to Trump's displeasure, policymakers held rates steady as expected and retained projections for two quarter-point rate cuts this year. However, Fed chair Jerome Powell struck a cautious note about further easing ahead, saying at his media conference later that he expected "meaningful" inflation ahead as a result of Trump's aggressive trade tariffs. Markets will now look to a string of central bank policy decisions out of Europe for any possible catalysts. The Swiss National Bank cut interest rates to zero, as expected, leaving the franc to drift as markets had priced in a roughly-20 per cent chance of a half-point cut. The franc, which has been a major beneficiary of safe-haven buying this year, was last steady against both the dollar, at 0.819 francs, and the euro at 0.9395 francs. The Bank of England is up next and is expected to keep UK rates unchanged. Data on Wednesday showed inflation cooled as expected in May, although food prices shot up and policymakers will be considering the potential impact from higher energy prices in light of the Israel-Iran war. Sterling edged 0.1 per cent lower to $US1.341. Global stocks have fallen and the dollar has risen as investors, concerned over the United States' possible entry into the Israel-Iran air war, seek safe-haven assets and ditch riskier ones. President Donald Trump kept the world guessing about whether the United States would join Israel's bombardment of Iranian nuclear sites, telling reporters outside the White House on Thursday, "I may do it. I may not do it." The Wall Street Journal reported that Trump had told senior aides he approved attack plans on Iran but was holding off on giving the final order to see if Tehran would abandon its nuclear programme. In Europe, stocks fell for a third day on Thursday, leaving the STOXX 600 down nearly 2.5 per cent on the week, set for its biggest week-on-week decline since the tariff-induced turmoil of April. US S&P 500 futures fell 0.6 per cent, although most US markets - including Wall Street and the Treasury market - will be closed on Thursday for a public holiday. "Market participants remain edgy and uncertain," said Kyle Rodda, senior financial markets analyst at Speculation was rife "that the US will intervene, something that would mark a material escalation and could invite direct retaliation against the US by Iran", he said. "Such a scenario would raise the risk of a greater regional conflict, with implications for global energy supply and probably economic growth." Much of the recent nervousness in markets has been centred around crude supply shocks from the Middle East, which has driven the price of crude oil up by 11 per cent in a week. Brent crude rose nearly one per cent to $US77.40 a barrel, close to its highest since January. Gold, which tends to struggle when the dollar gains, pared earlier losses to trade at $US3,366 an ounce. The dollar itself rose broadly, leaving the euro down 0.1 per cent at $US1.1466 and the Australian and New Zealand dollars - both risk-linked currencies - down 0.7 per cent and one per cent, respectively. Overnight, the Federal Reserve delivered some mixed signals to markets. Much to Trump's displeasure, policymakers held rates steady as expected and retained projections for two quarter-point rate cuts this year. However, Fed chair Jerome Powell struck a cautious note about further easing ahead, saying at his media conference later that he expected "meaningful" inflation ahead as a result of Trump's aggressive trade tariffs. Markets will now look to a string of central bank policy decisions out of Europe for any possible catalysts. The Swiss National Bank cut interest rates to zero, as expected, leaving the franc to drift as markets had priced in a roughly-20 per cent chance of a half-point cut. The franc, which has been a major beneficiary of safe-haven buying this year, was last steady against both the dollar, at 0.819 francs, and the euro at 0.9395 francs. The Bank of England is up next and is expected to keep UK rates unchanged. Data on Wednesday showed inflation cooled as expected in May, although food prices shot up and policymakers will be considering the potential impact from higher energy prices in light of the Israel-Iran war. Sterling edged 0.1 per cent lower to $US1.341. Global stocks have fallen and the dollar has risen as investors, concerned over the United States' possible entry into the Israel-Iran air war, seek safe-haven assets and ditch riskier ones. President Donald Trump kept the world guessing about whether the United States would join Israel's bombardment of Iranian nuclear sites, telling reporters outside the White House on Thursday, "I may do it. I may not do it." The Wall Street Journal reported that Trump had told senior aides he approved attack plans on Iran but was holding off on giving the final order to see if Tehran would abandon its nuclear programme. In Europe, stocks fell for a third day on Thursday, leaving the STOXX 600 down nearly 2.5 per cent on the week, set for its biggest week-on-week decline since the tariff-induced turmoil of April. US S&P 500 futures fell 0.6 per cent, although most US markets - including Wall Street and the Treasury market - will be closed on Thursday for a public holiday. "Market participants remain edgy and uncertain," said Kyle Rodda, senior financial markets analyst at Speculation was rife "that the US will intervene, something that would mark a material escalation and could invite direct retaliation against the US by Iran", he said. "Such a scenario would raise the risk of a greater regional conflict, with implications for global energy supply and probably economic growth." Much of the recent nervousness in markets has been centred around crude supply shocks from the Middle East, which has driven the price of crude oil up by 11 per cent in a week. Brent crude rose nearly one per cent to $US77.40 a barrel, close to its highest since January. Gold, which tends to struggle when the dollar gains, pared earlier losses to trade at $US3,366 an ounce. The dollar itself rose broadly, leaving the euro down 0.1 per cent at $US1.1466 and the Australian and New Zealand dollars - both risk-linked currencies - down 0.7 per cent and one per cent, respectively. Overnight, the Federal Reserve delivered some mixed signals to markets. Much to Trump's displeasure, policymakers held rates steady as expected and retained projections for two quarter-point rate cuts this year. However, Fed chair Jerome Powell struck a cautious note about further easing ahead, saying at his media conference later that he expected "meaningful" inflation ahead as a result of Trump's aggressive trade tariffs. Markets will now look to a string of central bank policy decisions out of Europe for any possible catalysts. The Swiss National Bank cut interest rates to zero, as expected, leaving the franc to drift as markets had priced in a roughly-20 per cent chance of a half-point cut. The franc, which has been a major beneficiary of safe-haven buying this year, was last steady against both the dollar, at 0.819 francs, and the euro at 0.9395 francs. The Bank of England is up next and is expected to keep UK rates unchanged. Data on Wednesday showed inflation cooled as expected in May, although food prices shot up and policymakers will be considering the potential impact from higher energy prices in light of the Israel-Iran war. Sterling edged 0.1 per cent lower to $US1.341.
International Business Times
a day ago
- Business
- International Business Times
Markets Dip as Trump Mulls Iran Strike; Brent Near $78, Gold Hits $3,372, DAX Falls 0.3%
Global markets edged lower Thursday amid fears the U.S. might enter the Israel-Iran conflict, with Brent crude near a 4.5-month high at $76.6 per barrel, gold up 0.1% to $3,372.36 an ounce, Germany's DAX futures down 0.3%, and S&P 500 futures off 0.1%. Investors fled to safe havens while President Donald Trump fueled uncertainty, saying, "I may do it. I may not do it," regarding potential U.S. military involvement. The Wall Street Journal reported that Trump approved attack plans but delayed action to see if Iran halts its nuclear ambitions. European equities pointed to a weak open. U.S. markets were mostly closed due to a national holiday. "Market participants remain edgy and uncertain," said Kyle Rodda of He warned that U.S. intervention would risk wider conflict and impact global energy and economic stability. Middle East oil fears kept crude prices volatile. Though Brent eased slightly, it remained close to the $78.50 peak hit Friday. In Asia, Taiwan's benchmark fell 1.5% and Hong Kong's Hang Seng slid 2%. Gold and the U.S. dollar gained as investors sought safety, with the dollar firming against the euro and major Asia-Pacific currencies. The Federal Reserve held interest rates steady overnight and signaled two cuts this year, defying Trump's push for easing. Chair Jerome Powell warned of inflation risks linked to Trump's tariffs. Analysts at MUFG criticized the Fed for underestimating economic fragility and labor market cracks. They warned that delaying cuts could force stronger action later. Attention now turns to central bank decisions across Europe. Despite a report showing inflation cooling in Britain, the Bank of England is expected to hold rates amid Israel-Iran-linked oil shocks. Sterling was steady at $1.34. Swiss and Norwegian banks are also due to issue policy decisions. In Japan, bond markets showed mixed moves. Long-term yields rose, while medium-term ones dipped after reports that Tokyo would cut super-long bond sales by 10% from prior targets. Markets remain tense, bracing for possible escalation in the Middle East. (With inouts from agencies)
The Star
a day ago
- Business
- The Star
Asian stocks slip, gold gains with yen as Middle East conflict rages
TOKYO: Stock markets in Asia edged lower on Thursday while safe havens such as gold and the Japanese yen gained as investors remained on edge over the possible entry of the United States into the week-old Israel-Iran air war. President Donald Trump kept the world guessing about whether the United States will join Israel's bombardment of Iranian nuclear sites, telling reporters outside the White House on Thursday, "I may do it. I may not do it." The Wall Street Journal said Trump had told senior aides he approved attack plans on Iran but was holding off on giving the final order to see if Tehran would abandon its nuclear programme. Japan's Nikkei sank 0.8%, with additional downward pressure stemming from a stronger yen, which reduces the value of overseas revenues for the country's heavyweight exporters. Taiwan's stock benchmark slid 0.9%, and Hong Kong's Hang Seng declined 0.8%. U.S. S&P 500 futures pointed 0.4% lower, although most U.S. markets - including Wall Street and the Treasury market - are closed on Thursday for a national holiday. Gold advanced 0.3% to $3,378 per ounce. "Market participants remain edgy and uncertain," said Kyle Rodda, senior financial markets analyst at "Speculation remains rife - fed probably strategically by the Trump administration - that the U.S. will intervene, something that would mark a material escalation and could invite direct retaliation against the U.S. by Iran," he said. "Such a scenario would raise the risk of a greater regional conflict, with implications for global energy supply and probably economic growth." Brent crude edged down to $76.32 per barrel, but remained not far from the 4-1/2-month peak of $78.50 reached on Friday. The yen gained 0.2% to 144.92 per dollar, while the U.S. currency itself was also in demand as a haven, gaining 0.1% to $1.1472 per euro and 0.2% to $1.3398 versus sterling. The Swiss franc edged down 0.1% to 0.8193 per dollar. The Bank of England and Swiss National Bank both announce policy decisions later in the day, with the BOE widely expected to keep interest rates steady while the SNB is seen as likely to cut rates by 25 basis points. Overnight, the Federal Reserve delivered some mixed signals to markets. Policymakers held rates steady, as expected, and retained projections for two quarter-point rate cuts this year. However, Fed Chair Jerome Powell struck a cautious note about further easing ahead, saying at his press conference later that he expects "meaningful" inflation ahead as a result of Trump's aggressive trade tariffs. - Reuters
