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 dollar edged lower against most Group-of-10 peers after Federal Reserve Governor Christopher Waller said the central bank should cut rates at its next meeting. Bloomberg Dollar Spot Index slipped 0.1%, while the yield on 2-year Treasuries fell two basis points to 3.88% With limited risk to price pressures and inflation within target, the Fed shouldn't wait until the labor market deteriorates before it cuts, Waller said in the text of a speech. "I believe it makes sense to cut the FOMC's policy rate by 25 basis points two weeks from now" NOTE: Traders are pricing effectively...
Gold steadied and was set for a moderate weekly loss as investors assessed the outlook for Federal Reserve rate cuts after resilient US jobs and retail data eased concerns about the economy. Bullion traded below $3,340 an ounce in early Asian hours, heading for a 0.5% drop on the week. That came after data that showed applications for unemployment benefits fell for a fifth straight week to the lowest level since mid-April, and advancing retail sales in June. San Francisco Fed President Mary Daly said she still thinks it's reasonable for policymakers to plan on two interest-rate cuts this...
The Japanese yen rose to around 148 per dollar on Friday, rebounding from a significant drop in the previous session, as investors digested the latest inflation data. Headline inflation ticked down to 3.3% in June 2025 from 3.5% in May, yet it marked the 39th consecutive month that inflation remained above the Bank of Japan's 2% target. This bolstered expectations that the BoJ may consider tightening monetary policy, given the prolonged period of above-target inflation. Meanwhile, data on Wednesday showed Japan's trade surplus shrank in June, falling short of expectations as exports fell...
Oil held a gain after US data showed the world's largest economy holding up despite the fallout from the Washington-led trade war, while crude market metrics pointed to near-term tightness. Global benchmark Brent traded above $69 a barrel after advancing by more than 1% in the previous session, while West Texas Intermediate was near $67. In wider markets, strong US data eased concerns about the economy, helping to underpin a risk-on mood and global equity rally. Crude futures, as well as those for gasoil, remain in backwardation in the nearer months of their curves, which means traders are...
Gold price dropped by over 0.26% during the North American session on Thursday, trimming some of its earlier losses of nearly 1%. The release of solid economic data from the United States, which supports the Federal Reserve's (Fed) stance to hold rates unchanged at the upcoming July meeting, contributed to this decline. At the time of writing, XAU/USD trades at $3,340. The market mood remains positive throughout the trading day, which serves as a headwind for Gold prices, as investors digest the latest job and consumer data. Initial Jobless Claims for the last week continued to show...
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...