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...
Gold (XAU/USD) kicks off the week on a volatile note, staging a sharp intraday recovery after briefly dipping to an 11-day low near $3,323 during early Monday trade. The rebound appears to be driven by renewed safe-haven demand amid geopolitical uncertainties surrounding the Russia-Ukraine peace talks, after the weekend summit between US President Donald Trump and Russian President Vladimir Putin failed to deliver a breakthrough. At the time of writing, the precious metal is trading around $3,348 during the European session, up 0.36% on the day. Despite the sharp intraday rebound, price...
Crude oil futures prices rose slightly on Monday (August 18, 2025), but remained within a narrow range. Market participants were monitoring Ukrainian President Volodymyr Zelensky's visit to Washington following the Trump-Putin meeting in Alaska, which touched on a potential end to the Russia-Ukraine war. Market analyst Peter Cardillo of Spartan Capital noted that while a peace deal appears to be forming, Trump's insistence on Zelensky abandoning NATO membership ambitions and ceding territory could trigger a negative reaction in international markets. "Skepticism and caution may emerge," he...
The dollar strengthened on Monday (August 18th) ahead of a meeting between US President Donald Trump and his counterparts from Ukraine and Europe, while attention was also focused on the Federal Reserve's Jackson Hole Symposium for policy guidance. The euro weakened 0.2% against the dollar to $1.1680, the yen weakened by the same amount to 147.445, while the British pound weakened about 0.1% to $1.3544. Reduced bets on a Fed rate cut next month helped the dollar find support amid previously stagnant foreign exchange market movements on Monday. Money markets now price in an 83% chance that...
Gold edged higher as traders anticipated potential interest rate signals from the Federal Reserve's annual meeting in Jackson Hole, as well as high-stakes diplomacy in Washington regarding efforts to end the war in Ukraine. Gold bullion prices traded near $3,350 an ounce, holding within a narrow range for the past few sessions. Central bankers from around the world will gather for a meeting in Wyoming starting Friday, with market pricing indicating a US interest rate cut is likely at the Fed's policy meeting next month. Fed chief Raphael Bostic said after a three-day visit to the...
The British pound (GBP) traded in a tight range around 1.3550 against the US dollar (USD) during the European trading session on Monday (August 18th). The GBP/USD pair consolidated as investors awaited a meeting between US President Donald Trump, Ukrainian President Volodymyr Zelenskyy, and NATO members at the White House on Monday to discuss conditions set by Russian leader Vladimir Putin for ending the war in Ukraine. On Friday, Trump met with Putin in Alaska to discuss a peace agreement. After the meeting, Trump said that Putin had offered to freeze most of the front line if Kyiv...
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...