Gold jumps as Powell signals rate cuts – ING

Gold jumped last Friday after USD and bond yields fell moved my Federal Reserve Chair Jerome Powell's words about an interest rate cut in September, ING’s commodity analysts Warren Patterson and Ewa Manthey note.

Gold might be poised for another fresh record high

"Gold jumped last Friday as the dollar and bond yields fell after Federal Reserve Chair Jerome Powell suggested an interest rate cut in September, pointing to increasing labour market risks despite persistent inflation concerns."

"Traders added to bets the Fed will cut rates next month. With US rate cut bets intensifying after Powell’s speech, Gold could be poised for another fresh record high."

Aug 25, 2025

NZD/USD: RBNZ’s dovish cut reinforces a downward bias for NZD – OCBC

New Zealand Dollar (NZD) bounced off its post-RBNZ lows, owing to a softer US Dollar (USD), but magnitude of strengthening was relatively weak. Pair last seen at 0.5855 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Fed Chair Powell pivots to cutting mode – ING

Chair Powell could have been super balanced, or even hawkish. But he effectively chose to endorse the market discount for a rate-cutting phase ahead. It's had quite the reaction. Risk assets are up, the dollar down, so's the front-end yield.