Latest news with #PCE)PriceIndex
Mint
4 days ago
- Business
- Mint
US Fed Meeting LIVE: Federal Reserve likely to hold interest rates; all eyes on ‘dot plot', Powell's commentary
US Federal Reserve Chairman Jerome Powell is set to take the podium on Wednesday, 18 June 2025, as investors eye the US Fed's 'dot plot,' a chart that holds the data on each Federal Reserve official's expectations for where interest rates will head in the future. The central bank will announce the outcome of the two-day US Federal Open Market Committee (FOMC) meeting on Wednesday, 18 June 2025. For Indian investors, the data will be released on the official channels at 11:30 p.m. (IST). Experts and investors are widely expecting the US central bank to keep its key benchmark interest rates 'unchanged' or on 'hold' amid rising global uncertainties due to tensions over the Israel-Iran conflict. The US Federal Reserve has kept its key benchmark interest rates unchanged at 4.25%-4.50% since its last easing move in December 2024 by a quarter percentage point (25 basis points). If the US Fed decided to keep the interest rates unchanged, then it would be the fourth straight policy outcome with lending rates on hold. The core inflation for the US witnessed a moderate uptick as it rose 0.1 per cent from April levels, as per the Labor Department data. Yet, policymakers are clear that the Fed would make a move once the concerns over Trump tariffs are resolved. Check US Federal Reserve Meeting-related stories here Follow updates here: 18 Jun 2025, 06:42 PM IST US Fed Meeting 2025 LIVE: The US consumer price index, excluding the food and energy categories, witnessed a 0.1% rise from April 2025 levels, according to data reviewed by the news agency Bloomberg. The Federal Reserve data, citing the Bureau of Economic Analysis, showed that the US inflation indicator, or the Personal Consumption Expenditures (PCE) Price Index, was at 2.1% in April 2025. 18 Jun 2025, 06:32 PM IST US Fed Meeting 2025 LIVE: Nasdaq futures were trading marginally higher with 0.17% gains at 21,991.75 as of 6:22 p.m. (IST) ahead of the Wall Street open on the US Federal Reserve's policy outcome day. The Dow and S&P futures remain flat but in the positive range prior to the US market open on 18 June 2025. 18 Jun 2025, 06:23 PM IST US Fed Meeting 2025 LIVE: The US Federal Reserve decided to keep the key benchmark interest rates unchanged at the range of 4.25% to 4.5% on 7 May 2025 as Chairman Jerome Powell reiterated his stance of 'no hurry to cut rates' as the US central bank announced its plans to analyse economy ahead of a potential rate cut. 'The Committee decided to maintain the target range for the federal funds rate at 4-1/4 to 4-1/2 per cent. In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks,' said the FOMC in the official release.
CNBC
04-06-2025
- Business
- CNBC
CCTV Script 02/06/25
Despite facing legal challenges, two senior Trump administration officials reaffirmed on Sunday that the tariff hikes will be implemented as planned. U.S. Commerce Secretary Howard Lutnick stated that "tariffs are not going away" while National Economic Council Director Kevin Hassett expressed confidence that the Supreme Court would uphold the policy. It has been around two months since the Trump administration introduced the new tariff measures. During this time, both the rate and the future of the policy have fluctuated repeatedly. Amid rising uncertainty, recent economic data show a noticeable decline in sentiment among U.S. consumers and small businesses. On Friday, the Bureau of Economic Analysis released the latest Personal Consumption Expenditures (PCE) Price Index—a key inflation gauge watched closely by the Federal Reserve. The data indicate that American consumers are scaling back spending and increasing their savings. In April, the PCE rose just 0.2% from the previous month, a significant drop from the 0.7% increase in March. Consumer spending on durable goods such as cars, apparel, and household appliances fell sharply. Instead, most expenditures were redirected toward essentials like housing, healthcare, and food. Meanwhile, the U.S. personal savings rate rose for the fourth consecutive month, reaching 4.9% in April—up from 4.3% in March. "Consumers cautious, you know, particularly on these more discretionary, larger ticket type items, where the purchase can be deferred." In another sign of weakening sentiment, the University of Michigan reported that consumer confidence continues to slide. The final reading for May held steady at 52.2—unchanged from April—but remains near historic lows. Small businesses are also under growing pressure due to the tariff policy. According to the National Federation of Independent Business (NFIB), the Small Business Optimism Index fell by 1.6 points in April to 95.8, marking the second straight month below the 51-year average of 98. Ryan Petersen, CEO of freight forwarding firm Flexport, which serves many U.S. small and medium-sized enterprises, previously gave a vivid analogy in a media interview. He warned that if the Trump administration does not revise the high tariff policy, the impact on small businesses could be like "asteroid-wiping-out-the-dinosaurs kind of event. Only these aren't dinosaurs. These are dynamic, healthy businesses." "They don't have a seat at the table. They're not involved at the White House in these conversations, and so no one's really advocating on their behalf to say, hey, these tariffs are going to wipe us out." NFIB economists say uncertainty remains the primary obstacle facing small business owners. Experts tell CNBC that elevated tariffs are already eroding revenues, prompting layoffs, and could ultimately trigger a chain-reaction recession on the supply side.
See - Sada Elbalad
02-06-2025
- Business
- See - Sada Elbalad
Gold Gains EGP 85 as Fed Rate Cut Expectations Drive Rally
Waleed Farouk Gold prices in local Egyptian markets rose on Monday, supported by a global increase in gold ounce prices, a weaker US dollar, and growing expectations of a Federal Reserve interest rate cut. Gold prices in Egypt climbed by EGP 85 during today's trading compared to the closing levels on Saturday. The price of 21-karat gold reached EGP 4,685 per gram, while the global gold ounce price rose by $64 to reach $3,364. In detail: 24-karat gold: EGP 5,354 per gram 18-karat gold: EGP 4,016 per gram 14-karat gold: EGP 3,124 per gram Gold sovereign (8 grams of 21K): EGP 37,480 Last month, gold prices in local markets declined by EGP 130. The 21-karat gram opened May at EGP 4,730 and ended the month at EGP 4,600. Meanwhile, the global gold ounce fell by $10—from $3,300 to $3,290. The recent surge in gold prices is largely attributed to a weakening US dollar and increased market anticipation of a shift in the Federal Reserve's monetary policy. The dollar's decline followed the release of the April Personal Consumption Expenditures (PCE) Price Index, which showed that annual inflation slowed to 2.1%—its lowest since early 2021—while core inflation eased to 2.5% from 2.7% in March. These inflation readings have strengthened market expectations that the Federal Reserve could initiate a rate-cutting cycle as early as September, with a possible second cut in December. Supporting this view, Fed Governor Christopher Waller recently stated that rate cuts remain a possibility despite ongoing inflation risks. His remarks further boosted gold's momentum amid continued dollar weakness. Markets are now closely watching a series of statements expected this week from members of the Federal Open Market Committee (FOMC), including a highly anticipated speech by Fed Chair Jerome Powell, which may offer clearer signals on the direction of US monetary policy and its implications for the dollar and gold prices. Multiple factors continue to support the bullish outlook for gold, including a weak dollar, cooling inflation, and rising geopolitical tensions in Eastern Europe and Asia. Growing global uncertainty is also enhancing the appeal of gold and other precious metals as safe-haven investments. Additionally, investors are awaiting a slate of key economic data in the coming days, including Monday's ISM Manufacturing PMI, Tuesday's job openings data, the monthly jobs report, the European Central Bank's meeting, weekly US jobless claims on Thursday, and the Non-Farm Payrolls report on Friday—all of which may significantly influence Fed policy decisions. 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 Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content 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 News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan
International Business Times
01-06-2025
- Business
- International Business Times
Gold Prices Dip as Dollar Strengthens and Tariff Uncertainty Looms
The shine of gold may dazzle, but its journey is often shaped by quiet shifts in global events. Traders this week received a reminder that political decisions and currency movements can quickly take the shine off it. Gold gave back some of its recent gains as investors processed new economic data and the return of tariff tensions, underscoring how even an age-old safe harbor isn't immune from the market storm. By 2:26 p.m. ET on Friday, spot gold was down 0.7% at $3,293.59 per ounce on a weekly basis, quoted as a 1.9% decline. U.S. gold futures finished down 0.9% at $3,315.40. The downward move came after a small increase in the U.S. dollar, which gained 0.1% on the index, pricing gold higher for those holding other currencies. Also driving market jitters on Thursday, a U.S. federal appeals court reinstated significant tariffs first imposed by former President Donald Trump. That was only a day after the trade court found that Trump had exceeded his authority. That decision by the court has now thrown investors into confusion about what happens next with international trade. "Gold is consolidating," said David Meger, head of metals trading at High Ridge Futures. "We have slightly less safe-haven demand now, but escalating political tensions, particularly with tariffs, could easily support prices once more," he said. On the economic front, the U.S. Personal Consumption Expenditures (PCE) Price Index, an important inflation measure, increased by 2.1% in April from a year earlier. The increase was slightly less than the 2.2% expected by economists, indicating a potential slowdown in inflation. The report strengthened expectations in financial markets of a Federal Reserve interest rate cut in September. Lower interest rates tend to help gold, which offers no yield of its own but does become more attractive to investors when borrowing costs fall. Gold prices reached a record high of $3,500.05 per ounce earlier in April amid expectations of rate cuts and global instability. Physical demand for gold in India, meanwhile, continued to be soft. Prices in the local market gained, and wedding season also was dissipating, which resulted in a lower number of buyers in the world's second-biggest gold consumer, they said. Other precious metals fell as well. Spot silver fell 1.2% to $32.94 an ounce, while platinum fell 2.5% to $1,055.05, and palladium was down 0.6% at $967.30.
International Business Times
30-05-2025
- Business
- International Business Times
Gold Prices Dip as Dollar Strengthens and Tariff Uncertainty Persists
Gold prices dropped on Friday, ending May with their first monthly loss of 2025. The dip was attributed to a firmer U.S. dollar and continued uncertainty over trade tariffs. Spot gold dropped 0.6 percent to $3,297.09 per ounce by 9:38 a.m. ET, a decline of 1.8 percent for the week. U.S. gold futures also fell 0.7% to $3,295.40. The dollar index gained 0.2%, which made gold more expensive for holders of other currencies. A federal appeals court has temporarily reinstated sweeping tariffs that US President Donald J. Trump, had placed on imported solar panels. The move followed a U.S. trade court decision, a day earlier, that had found Trump had overstepped his authority when imposing those duties. The resurrection amplified market swings and investor unease. "It doesn't look like initially gold will be so much in favor since there's a little bit less need for safe haven, but there are going to be significant restraints on Trump, and that ultimately will pop up prices," said David Meger, director of metals trading at High Ridge Futures. In economic news, the U.S. Personal Consumption Expenditures (PCE) Price Index increased 2.1% y/y in April, below expectations of a 2.2% rise. This relatively benign inflation data helped keep alive hopes that the Federal Reserve may yet cut interest rates in the coming months. Lower rates are generally good for gold, which doesn't offer a yield and stands to be pressured as the opportunity cost of holding the metal lessens. In India, gold continued to be unattractive this week as prices domestically grew higher and the wedding season came to an end. Dealers cut discounts to $31 an ounce from $49 a week ago. In the domestic market, gold was trading at around ₹94,900 per 10 grams after falling to a one-month low. Spot silver fell 0.6% to $33.14 an ounce. Platinum fell 1.6 percent to $1,065.50, and palladium lost 1 percent to $963.57.
