News

Apple (AAPL) stock is holding tightly to a meager gain on Wednesday afternoon. The iPhone maker rose to $206.00 at the start of the session but has fallen back toward $203.00 as the session progressed on several headwinds.

Silver price consolidated during Wednesday’s session, trading almost flat near $34.50, as traders seem reluctant to push the metal’s prices outside of the $34.00-$34.50 range.

The Dow Jones Industrial Average (DJIA) remained largely unchanged on Wednesday after bullish investor sentiment was stymied by a softer-than-expected ADP jobs print. Overall market momentum is cooling off as indexes hit a lull between trade war headlines.

USD/CHF drops from around three-day highs near 0.8250 and tumbles as the Greenback prolongs its agony, following a slight recovery on Tuesday. At the time of writing, the pair trades at 0.8174, down 0.78%.

Putin in the call with Trump vowed retaliation against Ukraine for its recent drone attack on Russian bombers, the U.S. president said.

Retirement account balances fell in the first quarter of 2025, according to Fidelity Investments, the largest 401(k) provider in the U.S.

White House official:

• Musk’s opposition is ‘one disagreement’ in an otherwise harmonious relationship
• The White House will not consult every policy decision with Elon Musk
• Trump is committed to getting the bill passed despite opposition from Musk

This is in response to Musk’s oppostiion to Trump’s ‘big bill’ that will skyrocket US debt and fiscal troubles:

• Musk described it as a “disgusting abomination”

Gonna need a new hat

This article was written by Eamonn Sheridan at www.forexlive.com.

TD Securities has updated its forecast for the Reserve Bank of Australia (RBA), now projecting two 25 basis point (bps) interest rate cuts in 2025—one in August and another in November—bringing the cash rate down to 3.35%.

This revision comes amid signs of economic weakness in Australia. The March 2025 quarter saw GDP growth slow to 0.2%, with per capita GDP contracting for the ninth time in eleven quarters. Factors such as subdued consumer spending, adverse weather events, and global uncertainties have contributed to this slowdown.

Despite these challenges, the RBA remains cautious. TD say that while a July rate cut is not anticipated, the Bank could consider it as a form of “insurance” against further economic deterioration. The RBA has indicated readiness to implement rapid rate cuts if global economic disruptions, such as those stemming from US trade policies, threaten Australia’s economic stability.

Market expectations align with TD Securities’ outlook, with many economists forecasting multiple rate reductions by early 2026 to support growth. However, the RBA emphasizes that any policy adjustments will be data-dependent, balancing the need to control inflation with the goal of sustaining economic growth.

The Reserve Bank of Australia cut at its May meeting. The next meeting is scheduled for July 7 and 8.

This article was written by Eamonn Sheridan at www.forexlive.com.