Stephen Miran, a Federal Reserve governor whose term ends at the end of January, said Thursday that he is looking for 150 basis points of interest-rate cuts this year to boost the U.S. labor market. Miran told Bloomberg Television's Surveillance program that Fed officials had room to further reduce rates given his view that underlying inflation was likely running at 2.3%. "I'm looking for about a point and a half of cuts. A lot of that is driven by my view of inflation," Miran said. "Underlying inflation is running within noise of our target, and that's a good indication of where overall...
The EUR/USD pair trades on a stronger note near 1.1705 during the Asian trading hours on Monday. The rising rate cut expectation from the US Federal Reserve (Fed) continues to weigh on the Greenback against the Euro (EUR). Later on Monday, the European Central Bank (ECB) President Christine Lagarde is scheduled to speak. The Personal Consumption Expenditures (PCE) Price Index came in line with the expectations in July, according to the US Bureau of Economic Analysis. The headline PCE rose 2.6% YoY in July, while core PCE, which excludes the more volatile food and energy, climbed 2.9% in the...
Oil prices fell in Asian trading on Monday after recording monthly losses for August, as investors discounted the risk of immediate supply disruptions from potential secondary sanctions on Russian crude and focused on fresh Chinese factory data for demand signals. As of 23:01 ET (03:01 GMT), Brent Oil Futures expiring in October fell 0.4% to $67.21 per barrel, while West Texas Intermediate (WTI) crude futures also declined 0.4% to $63.78 per barrel. Both contracts dropped more than 7% in August, dragged by supply glut fears from steady OPEC+ production hikes. Markets shrug off...
Gold prices climbed toward $3,480 per ounce on Monday, nearing a record high as investors weighed the future of the Federal Reserve and uncertainty over US President Donald Trump's tariffs. A hearing on Trump's move to fire Fed Governor Lisa Cook ended Friday without a decision, and a ruling is not expected to arrive before at least Tuesday. At the same time, a federal appeals court ruled that Trump's global tariffs were illegally imposed under an emergency law, upholding a May ruling by the Court of International Trade. But these tariffs will be allowed to persist until October 14, giving...
The yen strengthened to around 146.8 per dollar on Monday, recovering losses from the previous session as the greenback stayed under pressure from expectations of Federal Reserve rate cuts. Traders are also awaiting a series of US labor market releases this week that could shape the Fed's next move. In Japan, data showed capital spending rose 7.6% in Q2 2025, accelerating from 6.4% in the prior quarter and topping forecasts of 6.2%. Meanwhile, the August manufacturing PMI was revised down to 49.7 from 49.9, marking the 13th contraction in factory activity over the past 14 months. Markets...
The Australian dollar appreciated past $0.654 on Monday, marking its fifth consecutive session of gains and its highest level in over two weeks amid a mixed set of domestic economic indicators. Notably, Australia's Manufacturing PMI rose to a near three-year high of 53 in August 2025, marking its eighth consecutive month above the 50-point threshold. Labor market conditions also showed resilience, with ANZ-Indeed Job Ads edging up 0.1% month-over-month in August, rebounding from a decline in July. In the housing sector, private house approvals increased by 1.1% month-over-month in July to...
Bank of Japan (BOJ) Governor Kazuo Ueda stated that achieving 2% inflation is getting closer, although real inflation remains low. Ueda emphasized that the BOJ will continue to raise interest rates...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...