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 Swiss Franc is one of the strongest G8 performers, amid higher demand for safe havens as risk aversion increased during Tuesday's European market session. The USD/CHF, as a result, has extended its decline to fresh 14-year lows at the 0.7900 area. US President Trump's comments highlighting the challenges to cut a trade deal with Japan and Treasury Secretary Bessent's threats of higher tariffs from July 9 have crushed risk appetite on Tuesday. In the US, the uncertainty about Trump's sweeping Tax bill, which is expected to add another $3.3 trillion to an already high US debt load, is...
Gold price (XAU/USD) builds on the previous day's goodish recovery from the $3,248-3,247 region or a one-month trough and gains positive traction for the second successive day on Tuesday. The momentum remains uninterrupted through the early part of the European session and lifts the bullion to a multi-day peak, around the $3,340 area in the last hour. The US Dollar (USD) remains depressed on the back of the growing acceptance that the Federal Reserve (Fed) would resume its rate-cutting cycle in the near future. Adding to this, concerns about the worsening US fiscal conditions drag the USD...
Silver prices held steady around $36 per ounce on Tuesday following a strong performance in June, underpinned by a weaker dollar amid bets on deeper Federal Reserve rate cuts, rising fiscal concerns, and persistent trade uncertainties. A softer dollar typically boosts demand for dollar-denominated commodities like silver by making them more affordable to foreign buyers. Investors are now turning their attention to upcoming US jobs data, as signs of weakness in the labor market may strengthen the case for a rate cut as early as July. Meanwhile, market participants are closely monitoring the...
The Australian Dollar (AUD) recovers its daily losses against the US Dollar (USD) on Tuesday amid improved risk appetite, driven by the news that the US may scale back its goals for comprehensive reciprocal agreements with trading partners. US President Donald Trump's top trade officials were seeking phased deals with the most engaged countries as they hurried to reach an agreement by the July 9 deadline, when Trump had vowed to reimpose his harshest levies, per the Financial Times. However, the AUD/USD pair faced challenges as Australia's S&P Global Manufacturing Purchasing Managers'...
Gold climbed for a second day on optimism that the Federal Reserve will resume rate cuts this half, while investors continued to monitor US trade talks before a July 9 tariff deadline. Bullion rose 0.6% to near $3,323 an ounce, after gaining 0.9% on Monday as traders priced in higher odds of at least two US rate reductions in 2025. A jobs report on Thursday also looms as a potential catalyst for a drop in yields on Treasuries — a scenario that typically tends to benefit gold. Gold is up by more than a quarter this year, and is trading less than $200 short of...
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...