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 Australian Dollar (AUD) traded hesitantly around the 0.6530 level against the US Dollar (USD) on Monday (June 30, 2025). Despite positive sentiment from the progress of trade talks between the US and partner countries, the market remains cautious as economic data from Australia and China show a slowdown. AUD/USD had strengthened slightly due to the weakening USD, but was held back below the 0.6550 resistance area. Pressure on the AUD came from less than satisfactory domestic data. The Australian inflation figure according to TD-MI only rose 0.1% in June, lower than the 0.2% expected....
USD/CHF held steady after a five-day losing streak, trading around 0.7990 during European hours on Monday (06/30). The pair held steady around 0.7957, the lowest since September 2011, recorded on Friday. The Swiss franc (CHF) moved little against the US dollar (USD) after the KOF Leading Indicator was released in Switzerland, which fell to 96.1 in June from 98.6 in May. The reading was below market expectations of 99.3, marking the lowest reading since October 2023. Earlier this month, the Swiss National Bank (SNB) cut interest rates to 0% in response to easing inflationary pressures and...
Oil prices fell on Monday as geopolitical risks in the Middle East eased and the prospect of an OPEC+ output hike in August raised supply expectations amid continued uncertainty over the global demand outlook. Brent crude futures fell 12 cents, or 0.18%, to $67.65 a barrel by 0718 GMT, ahead of the August contract's expiry on Monday. The more active September contract was at $66.56, down 24 cents. U.S. West Texas Intermediate crude futures fell 36 cents, or 0.55%, to $65.16 a barrel. Both benchmarks posted their biggest weekly declines since March 2023 last week, but both are expected to...
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of six major currencies, continued its downtrend that began on June 19, as it traded around 97.20 during European hours on Monday (06/30). Traders are awaiting US employment figures due later this week, which could further provide fresh impetus on the US Federal Reserve's (Fed) policy outlook. The US Nonfarm Payrolls report is expected to show the economy added 110,000 new jobs in June, down from 135,000 in May. The current range is between a high of 140,000 and a low of 75,000. Additionally,...
Oil prices fell in Asian trade on Monday as waning geopolitical tensions between Israel and Iran saw traders further pare back a risk premium, while anticipation of more output hikes by the OPEC+ also weighed. Brent oil futures for August fell 0.8% to $67.20 a barrel, while West Texas Intermediate crude futures fell 1.1% to $64.77 a barrel by 21:44 ET (01:44 GMT). Oil was still headed to rise more than 5% this month, having initially rallied on the Israel-Iran war. Crude markets took middling cues from mixed purchasing managers index data from top oil importer China, which showed...
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...