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 US dollar (USD) weakened on Friday (04/07), moving lower in holiday-thinned trading and ending two consecutive days of gains. After rising on stronger-than-expected US Nonfarm Payrolls data released on Thursday, the greenback is now paring gains, as market activity remains subdued amid the July 4 Independence Day holiday in the United States. The US Dollar Index (DXY), which measures the greenback against a basket of major currencies, traded flat during American trading hours. At the time of writing, the index was hovering near 97.00, retreating from a weekly high of 97.42 reached on...
Gold (XAU/USD) traded higher on Friday (04/07) as news of US President Donald Trump's "Big, Beautiful" bill made its way into the market. With markets closed in the US for Independence Day, XAU/USD was trading above $3,330 at the time of writing. Liquidity is expected to remain light in the US following the holiday weekend, which could make bullion sensitive to developments that could affect risk sentiment. Risk appetite improved this week, following reports that the US was making progress in trade talks ahead of a July 9 deadline. However, the mood changed slightly on Friday due to tariff...
The U.S. dollar slipped lower Friday, handing back some of the previous session's gains with attention turning to the July 9 deadline for U.S. trade deals. U.S. markets are closed Friday for the Independence Day holiday. Dollar slips on trade uncertaintyThe U.S. currency rallied on Thursday after stronger than expected U.S. jobs data pushed out the timing for potential rate cuts by the Federal Reserve. However, these gains have proved short-lived as attention has shifted to the ongoing trade negotiations between the U.S. and a substantial number of its trading partners, with hefty tariffs...
Oil futures fell on Friday after Iran reaffirmed its commitment to nuclear non-proliferation and amid expectations that major producers are set to agree to raise their output this weekend. Brent crude futures were down 35 cents, or 0.51%, to $68.45 a barrel by 0730 GMT, while U.S. West Texas Intermediate crude fell 25 cents, or 0.37%, to $66.75. Trade was thinned by the U.S. Independence Day holiday. U.S. news website Axios reported on Thursday that the U.S. was planning to meet with Iran next week to restart nuclear talk, while Iran Foreign Minister Abbas Araqchi said Tehran remains...
Gold price (XAU/USD) maintains its bid tone through the first half of the European session on Friday, though it remains below a one-week high touched the previous day. The US Dollar (USD) struggles to capitalize on the upbeat US NFP-inspired rally on Thursday amid concerns that US President Donald Trump's 'One Big Beautiful Bill' would worsen the country's fiscal situation. This, along with persistent trade-related uncertainties, turns out to be a key factor underpinning demand for the safe-haven precious metal. Meanwhile, traders dialled back expectations that the Federal Reserve (Fed)...
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...