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 rose more than 1% on Friday (July 11th) as investors sought safe-haven assets following the announcement of new tariffs by US President Donald Trump, while silver hit its highest level in more than 13 years. Spot gold prices rose 1% to $3,356.93 an ounce at 2:43 p.m. EDT (18:43 GMT), after hitting their highest level since June 24 earlier in the session. US gold futures closed up 1.4% at $3,371.20. Global stocks weakened after Trump escalated his tariff attack on Canada, saying the US would impose a 35% tariff on imports next month and plans to impose across-the-board tariffs of...
The US dollar strengthened on Friday (July 11th), supported by new tariff threats from US President Donald Trump, which have reignited global trade tensions and triggered a new wave of risk aversion. As tensions escalate, investors have become increasingly cautious, bolstering the greenback's status as a safe-haven asset. This shift in sentiment has pushed the US Dollar Index (DXY) higher, as markets brace for potential monetary policy changes. The US Dollar Index (DXY), which measures the greenback's value against a basket of major currencies, traded flat during the American trading...
Gold prices surged more than 1% to their highest level in more than two weeks on Friday (July 11), as investors turned to safe-haven assets after U.S. President Donald Trump escalated the global trade war with the announcement of new tariffs. Spot gold rose 1.2% to $3,363.46 an ounce at 11:32 a.m. EDT (15:32 GMT), its highest level since June 24. U.S. gold futures rose 1.6% to $3,377.80. Global stocks weakened after Trump escalated his tariff attack on Canada, saying the U.S. would impose a 35% tariff on imports next month and plans to impose across-the-board tariffs of 15% or 20% on most...
Oil prices rose about 2% on Friday (July 11) as investors weighed a tight near-term market compared to the potential large surplus projected by the International Energy Agency (IEA) this year, while U.S. tariffs and possible further sanctions against Russia were also in focus. Brent crude futures rose $1.35, or 2%, to $69.99 a barrel at 10:48 a.m. EDT (1458 GMT). U.S. West Texas Intermediate crude rose $1.49, or 2.2%, to $68.06 a barrel. At those levels, Brent is expected to gain 2.5% this week, while WTI is up about 1.6% from last week's close. The IEA said on Friday that global oil...
Gold (XAU/USD) price surged on Friday, trading above $3,340 at the time of writing, as trade tensions and safe-haven demand have overshadowed rising US yields. US President Donald Trump announced on Friday a sweeping 35% tariff on all Canadian imports, effective from August 1, in a move that rattled global markets. The decision is particularly significant given that the United States is Canada's largest trading partner, accounting for 76% of Canadian exports in 2024, according to Statistics Canada. Trump also warned of broader action, stating: "We're just going to say all of the remaining...
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...