U.S. retail sales rose more than expected in June, signaling that consumer spending remains resilient despite higher borrowing costs and ongoing economic uncertainty. The stronger-than-forecast data eased concerns about a slowdown in the world’s largest economy and provided support for financial markets. The report reinforced expectations that the Federal Reserve can keep interest rates unchanged…
The U.S. dollar traded near a one-month low as investors grew more confident that the Federal Reserve will keep interest rates unchanged at its July meeting following softer-than-expected inflation data. Recent economic reports showed resilient consumer spending and a stable labor market, while easing inflation reduced expectations of a near-term rate hike. However, rising oil…
Gold prices dropped to a two-week low as escalating tensions in the Middle East pushed oil prices and U.S. Treasury yields higher, reducing demand for the precious metal. Spot gold fell about 2%, while U.S. gold futures also declined as investors anticipated that higher energy costs could keep inflation elevated and prompt the Federal Reserve…
Federal Reserve Chair Kevin Warsh said the U.S. central bank remains committed to returning inflation to its 2% target, stressing that policy decisions will continue to be based on economic data and remain independent of political pressure. Fresh U.S. data supported expectations that interest rates will stay unchanged at 3.50%–3.75% during the Fed’s July 28–29…