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...
Markets are focused on US macro data and Federal Reserve (Fed) communications, with November's Nonfarm Payrolls (NFP) data expected to show weak job growth and a higher unemployment rate. Weaker data or a dovish Fed signal could revive expectations of a March interest rate cut, while Thursday's European Central Bank (ECB) meeting remains the main external risk for short US Dollar (USD) positions, notes ING FX analyst Chris Turner. Fed speakers could reinforce the dovish bias "In terms of US domestic news this week, the focus will be on major data releases and key Fed speeches. The...
Silver (XAG/USD) prices have gained more than $2 so far on Monday (December 15th), reaching an intraday high near $63.80 and approaching a new record high of $63.65, after bouncing off a low below the $61.00 mark on Friday. The precious metal traded on a firm note on Monday, driven by a cautious market mood following weak data from China and renewed concerns about the country's property sector amid news that state-owned developer China Vanke is on the verge of bankruptcy. Furthermore, US President Trump has named former Fed Governor Kevin Warsh as the most suitable person to replace...
Gold rose 1% on Monday (December 15) and held near a seven-week high, supported by a weaker dollar, expectations of interest rate cuts, and safe-haven buying due to geopolitical tensions, while silver rose but remained below Friday's record high. Spot gold prices rose 1% to $4,343.96 an ounce at 0949 GMT. Bullion hit its highest level since October 21 on Friday. US gold futures rose 1.2% to $4,377.80 an ounce. The US dollar held near a two-month low hit last week, making dollar-denominated gold more affordable for overseas buyers, while the yield on the benchmark 10-year US Treasury bond...
Oil prices held steady on Monday (December 15th) as investors balanced supply disruptions related to escalating U.S.-Venezuela tensions with oversupply concerns and the impact of a potential Russia-Ukraine peace deal. Brent crude futures rose 15 cents, or 0.25%, to $61.27 per barrel, as of 0924 GMT, and U.S. West Texas Intermediate crude was at $57.59 per barrel, also up 15 cents, or 0.26%. Both contracts fell more than 4% in the previous week, weighed down by expectations of a global oil surplus in 2026. "The decline in oil prices and the lows reached for the month across the major...
Silver prices are currently holding steady around US$62/ounce after a wild week last week: briefly setting a record, then being hit by profit-taking. Spot price data shows XAG/USD hovering around US$62 within a narrow daily range, indicating the market is awaiting a new trigger. From a macro perspective, the most "lifting" factor for silver right now is the direction of US interest rates. The Fed has indeed cut interest rates, but there are internal disagreements, so the market is becoming more cautious about betting on further easing in 2026. If expectations of lower interest rates...
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...