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 prices hit a new record on Monday, rallying sharply amid rising geopolitical tensions and speculation that the Federal Reserve (The Fed) will cut interest rates further next year. Gold surged to $4,459.60 per ounce, registering a 2.4% gain on the day—its biggest gain in more than a month. The surge in gold prices was driven by market expectations that the Fed will lower borrowing costs again in 2026, a policy that would benefit the precious metal. Gold, as a non-interest-bearing asset, often benefits in a lower interest rate environment. Geopolitical tensions, particularly those in...
Oil prices held on to four consecutive days of gains as the US continued its blockade of oil shipments from Venezuela. In this morning's trading, West Texas Intermediate (WTI) was trading around $58 per barrel, after rising about 5% in the last four sessions, while Brent closed near $62 per barrel. US President Donald Trump confirmed that the US would continue to withhold oil from seized vessels linked to Venezuela. The US has already seized two oil tankers and is pursuing a third, as part of further pressure on the government of Nicolás Maduro. Despite the ship seizures, more than a dozen...
Oil prices rose on Monday (December 22nd) after the U.S. Coast Guard attempted to intercept an oil tanker in international waters near Venezuela the day before, and Ukraine damaged two ships and a dock in Russia, raising the risk of oil supply disruptions. Brent crude rose $1.60, or 2.7%, to $62.07 a barrel, while U.S. West Texas Intermediate crude rose $1.49, or 2.6%, to $58.01 a barrel. The U.S. Coast Guard attempted to intercept an oil tanker on Sunday that U.S. officials said was part of an illegal Venezuelan sanctions-evasion operation, the third such operation this month. The pursuit...
Gold (XAU/USD) rallied more than 2% on Monday (December 22nd), hitting a record high of $4,442 amid rising geopolitical tensions and expectations that the Federal Reserve (Fed) will continue to cut interest rates next year, pushing US Treasury yields lower. At the time of writing, XAU/USD was trading at $4,435, having rebounded from a daily low of $4,338. Gold prices surged more than 2% amid rising tensions in the Middle East and Venezuela, while markets expect a deeper Fed rate cut for 2026. Tensions in the Caribbean escalated after US President Donald Trump announced last week a...
Silver (XAG/USD) extended its bullish momentum on Monday, trading around $69.05 at the time of writing, up 2.75% on the day, after hitting a new all-time high of $69.47 earlier in the day. The white metal benefited from strong follow-through buying after several weeks of steady gains, supported by a macroeconomic and geopolitical backdrop that remains favorable for safe-haven assets. Silver's rise occurred amid persistent expectations for monetary easing in the United States. Markets continue to price in additional interest rate cuts by the Federal Reserve (Fed) through 2026, as recent data...
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...