The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
NEW YORK, April 12 - The euro stumbled to a five-month low against the dollar on Friday after the European Central Bank indicated it could soon cut rates, a divergence from market expectations for the U.S. Federal Reserve to keep rates higher until later in the year.
Expectations for a cut of at least 25 basis points in June have shrunk to 24.9%, down from 53.2% a week ago, according to CME's FedWatch Tool, opens new tab, while expectations for a cut in July have fallen to 52.8% from 72.5% in the prior week. "You've got the Fed banking on its scenario, neither side of which is coming true. Inflation's supposed to come off, well, it's not, and the economy's supposed to weaken, which it's not, so neither side is coming true so frankly, they have zero ground to cut rates."
Economic data on Friday showed U.S. import prices increased for a third straight month in March amid rises in the costs of energy products and food, but underlying imported inflation pressures were tame. Sterling also weakened against the dollar and was last down 0.92% at $1.244 after falling to $1.2426, its lowest since November 17 and was poised for its biggest weekly percentage drop since mid-July.
Gold Silver Platinum Palladium PGM Platinum Group Metals Metals Precious Metals Mining News Crypto News Bitcoin News Ethereum News Mining News Interviews Economic Reports Forecasts Central Banks US Dollar Charts Tech Metals Rare Earth Metals Currency Global Economy International Policy Politics Bank Forecasts Market Nugget Mining Minutes Roundups
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil price news: Oil edges lower as stronger U.S. dollar hampers crude’s rallyOil edged lower as a stronger U.S. dollar outweighed optimism that the Federal Reserve will stick to its path of interest-rate cuts this year.
Read more »
Oil price news: Oil steady as stronger U.S. dollar offsets tightening fundamentalsOil steadied above US$85 a barrel in London as a stronger U.S. dollar curbed investor appetite for commodities, offsetting signs of a tighter global crude market.
Read more »
Oil price news: Oil steady as stronger dollar offsets tightening fundamentalsOil steadied near US$86 a barrel in London as a stronger dollar curbed investor appetite for commodities, offsetting signs of a tighter global crude market.
Read more »
Bitcoin bulls shaken but not broken amid 11% Dip, analysts call it a ‘healthy correction’The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Patriot Battery Metals new CEO Ken Brinsden sets focus on downstreamThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Silver sizzling, but is it overdone?The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »