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 edged higher on Monday (July 28th) as investors assessed the trade deal between the United States and the European Union, while a stronger US dollar and lower oil imports from India weighed on prices. Brent crude futures rose 30 cents, or 0.4%, to $68.74 a barrel at 08:13 GMT, while US West Texas Intermediate crude was at $65.43 a barrel, up 27 cents, or 0.4%. The US-EU trade deal and the possible extension of the US-China tariff pause supported global financial markets and oil prices, said IG market analyst Tony Sycamore. The US-EU trade framework pact announced Sunday imposes...
The British pound (GBP) weakened near 1.3400 against the US dollar (USD) at the start of the week. The GBP/USD pair weakened as the US dollar attracted buying interest following the announcement of a trade framework between the United States (US) and the European Union (EU). The US Dollar Index (DXY), which tracks the greenback against six major currencies, rose near 97.90 at the time of writing. Over the weekend, US President Donald Trump announced a trade agreement with the European Union, stating that the base tariff on imports from Brussels would be 15%, half the level Trump had...
Silver prices remained under pressure on Monday, holding below $38.50 per ounce after falling more than 2% in the previous session, as recent trade agreements between the US and key partners dampened demand for safe-haven assets. Over the weekend, the US and European Union reached a trade deal that imposes a 15% tariff on most EU exports, down from the 30% previously threatened. The US also secured agreements last week with Japan and Indonesia. Meanwhile, markets are awaiting further developments in US-China trade talks, set to begin later today in Stockholm, with expectations that...
The USD/CHF pair holds steady near 0.7950 during the early European trading hours on Monday. Progress on the US-EU trade deal might hit safe-haven demand and undermine the Swiss Franc (CHF). Investors brace for further developments surrounding the US-China trade deal as US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are scheduled to meet on Monday in Stockholm. The CHF pares gains against the US Dollar (USD) from improved risk appetite after the US and EU announced a trade framework agreement, setting a blanket 15% tariff on goods traded between them. The 15% tariff...
Gold prices gained in choppy trading on Monday, as a weaker dollar helped to offset pressure from improved risk appetite after United States and European Union announced a trade framework agreement. Spot gold was up 0.2% at $3,342.62 per ounce, as of 0421 GMT, after touching its lowest level since July 17. U.S. gold futures edged 0.2% higher to $3,342.90. The U.S. struck a framework trade agreement with the European Union on Sunday, imposing a 15% import tariff on most EU goods - half the threatened rate - and averting a bigger trade war between the two allies that account for almost a...
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...