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 are once again causing a stir after surging to a new record above $5,500 per ounce, extending a rally that has been very strong since the beginning of the year. In the Asian session, gold briefly reached a new peak before moving lower; at 8:02 a.m. in Singapore, gold was reported to be around $5,461.98/ounce after previously hitting an intraday record. This surge occurred as the US dollar weakened and investors became more aggressive in seeking alternative stores of value. The biggest driver isn't just inflation it's confidence. Many investors are starting to hesitate in relying...
Oil prices rose for a third day after US President Donald Trump warned Iran to reach a nuclear deal or face military action. This statement re-escalated tensions in the Middle East and rekindled market concerns about potential unrest that could disrupt supply. West Texas Intermediate (WTI) crude oil rose to near $64 per barrel after rising 1.3% in the previous session and closing at its highest level since late September. In a social media post on Wednesday, Trump said the US ships he ordered to the region were ready to carry out their mission "with speed and force, if necessary." This...
Gold prices briefly caused a stir after hitting a new record, but then slowed. The main trigger: US President Donald Trump withheld the threat of tariffs on Europe and claimed there was a "framework" for a future agreement on Greenland. This calmer tone made the market a little more willing to take risks, thus easing the pressure to buy gold as a safe haven. However, the big picture hasn't changed: gold remains in high territory because the world remains filled with uncertainty. Trade wars could resurface at any time, geopolitical tensions haven't completely subsided, and investors are...
Oil prices were little changed in Asian trading on Thursday after US President Donald Trump backed down from a threat to impose tariffs on European countries over Greenland. This decision helped ease geopolitical tensions and improve market sentiment. At 10:07 p.m. ET, Brent crude futures edged up 0.1% to $65.31 per barrel, while West Texas Intermediate (WTI) crude rose 0.2% to $60.74 per barrel. These small gains came after two consecutive sessions in which oil prices were driven by concerns about supply disruptions. One such issue was the temporary shutdown of oil production from the...
The USD/CHF currency pair moved steadily near 0.7950 in late Asian trading on Thursday. This movement continued the recovery that began on Wednesday, after a sharp correction on January 19-20. This strengthening was supported by increased buying interest in the US dollar following US President Donald Trump's speech at the World Economic Forum (WEF) in Davos. At the same time, the US Dollar Index (DXY) traded firmly around 98.80, near the previous day's high. Trump stated that the United States would not use military action or threaten tariffs against the European Union over the Greenland...
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...