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...
Oil prices fell on Friday (August 29th) but were poised for weekly gains, swayed by uncertainty over Russian supplies and expectations of falling demand as the summer driving season nears its end in the United States, the world's largest fuel consumer. Brent crude futures for October delivery, which expire on Friday, fell 36 cents, or 0.5%, to $68.26 at 08:16 GMT, while the more active November contract fell 29 cents, or 0.4%, to $67.69. West Texas Intermediate crude futures fell 28 cents, or 0.4%, to $64.32. Brent was poised for a weekly gain of 0.8%, while WTI was expected to rise 1%....
Gold prices weakened slightly on Friday (August 29th), but are expected to post a monthly gain ahead of US inflation data that will provide more clues about the Federal Reserve's rate cut path. Spot gold fell 0.1% to $3,414.07 per ounce, as of 08:18 GMT. Bullion has gained 3.6% in August and reached $3,423.16 on Thursday, its highest level since July 23rd. US gold futures for December delivery fell 0.1% to $3,471.70. "In addition to a slight strengthening dollar, gold is also feeling the gravitational pull typically found around large round numbers. The market seems reluctant to allow gold...
The USD/CHF pair attracted some bids and strengthened near 0.8025 during the European trading session on Friday (August 29th). The Swiss Franc pair strengthened as the US Dollar (USD) traded slightly higher ahead of the US Personal Consumption Expenditures (PCE) Price Index data for July, which will be released at 12:30 GMT. At the time of writing, the US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, was slightly higher near 98.00. Investors will be closely watching core PCE inflation data – which excludes volatile commodities such as food and...
The USD/CHF pair attracts slight bids and rises to near 0.8025 during the European trading session on Friday. The Swiss Franc pair ticks up as the US Dollar (USD) trades marginally higher ahead of the United States (US) Personal Consumption Expenditure Price Index (PCE) data for July, which will be published at 12:30 GMT. During the press time, the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, edges higher to near 98.00. Investors will pay close attention to the core PCE inflation data – which excludes volatile items such as food and energy – as it...
The Silver price (XAG/USD) slumps to near $38.80 during the early European trading hours on Friday. The white metal edges lower amid some profit-taking and a stronger US Dollar (USD). Traders brace for the US Personal Consumption Expenditures (PCE) Price Index report for July later on Friday for fresh impetus. The second estimate for US Gross Domestic Product (GDP) in the second quarter (Q2) of 2025 showed an annualized growth rate of 3.3%, a stronger figure than initially estimated, according to the US Bureau of Economic Analysis (BEA). The upbeat US GDP report diminishes the immediate...
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...