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Treasury Secretary Scott Bessent confirmed a two-month extension of the U.S.-China trade truce, keeping reduced tariffs and rare-earth supply flows in place, as President Xi Jinping began a state visit in Washington.
US Treasury Secretary Scott Bessent has confirmed that the existing trade truce between the United States and China has been extended, with the new deadline set at January 10.
Oil prices dipped during early Asian trading hours amid contradictory reports about whether Tehran has floated a conditional plan to reopen the Strait of Hormuz, a key global energy chokepoint.
Crude oil prices slid to the vicinity of $89 per barrel as global markets assessed the economic and geopolitical signals embedded in President Trump's address to the United Nations.
A senior figure at the Reserve Bank of Australia has voiced backing for additional interest rate increases, warning that inflationary pressures risk becoming entrenched in the economy.
XAG/USD continues to consolidate its recent uptrend around the mid-$66 range, with market participants keeping a close eye on the 23.6% Fibonacci retracement level as a critical pivot for the metal's near-term direction.
The euro steadied just above the 1.1450 level, caught between uncertainty surrounding German politics and a Federal Reserve signaling a more restrictive monetary path.
Federal Reserve Chairman Kevin Warsh held a news conference following the central bank's decision to lift rates by 25 basis points, sending fresh signals to currency and interest-rate traders.
The Federal Reserve unanimously raised its benchmark rate to 3.75%–4%, marking the first increase in over three years, as Chair Kevin Warsh cited prolonged inflation above the 2% target. The move triggered immediate repricing of prime lending rates across major US banks and set the stage for further hikes later this year.
Federal Reserve Chair Kevin Warsh's firm stance on inflation steadied Treasury prices and lifted the dollar following the central bank's first rate increase since 2023, while crude oil continued its slide.
A hotter-than-anticipated US inflation print has nudged gold lower, reinforcing market expectations that the Federal Reserve will deliver a rate increase at its upcoming meeting this week.
The FOMC meets on September 16 to set policy, yet the very PCE data underpinning the hawkish case will be revised by the BEA on September 30. For forex traders, the sequencing creates a rare window where waiting a single meeting may prove more defensible than acting on numbers the government itself is about to update.
