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 Pound Sterling (GBP) extends its winning streak against the US Dollar (USD) for the fourth consecutive trading day on Thursday, refreshing an over three-year high at around 1.3725 at the time of writing. The GBP/USD pair strengthens as the US Dollar faces a sharp selling pressure after United States (US) President Donald Trump reiterated attacks on Federal Reserve's (Fed) independence, following Chair Jerome Powell's commitment to a "wait and see" approach on interest rates in the two-day semi-annual testimony before Senate. The US Dollar Index (DXY), which tracks the Greenback's value...
The US Dollar is trading lower for the sixth consecutive day on Thursday, as Trump's attacks on Fed Chairman Jerome Powell have undermined confidence in the US central bank and revived the "Sell America" trade. The USD Index (DXY), which measures the value of the Dollar against the most traded currencies, is nearly 2% lower this week, at the lower range of the 97.00s for the first time since March 2022. President Trump reacted with anger to Powell´s testimony to Congress, calling him names and suggesting that he might announce the name of his replacement as soon as September or October....
Silver (XAG/USD) price attracted some buyers around $36.35 during the early European session on Thursday (6/26), supported by a weaker US Dollar (USD). Traders will take more cues from the final US Q1 GDP Growth Rate and Fed speeches due later on Thursday. The greenback faced some selling pressure amid concerns about the future independence of the US Federal Reserve (Fed). This, in turn, provided some support to the USD-denominated commodity, as a weaker USD makes Silver cheaper for foreign buyers. US President Donald Trump said that he will pick a replacement for Fed Chair Jerome Powell in...
The USD/CHF pair remained depressed for the fourth consecutive day and touched a fresh low since September 2011, around the 0.8025 region during the Asian session on Thursday (6/26). The US Dollar (USD) selling bias remained unabated amid concerns about the future independence of the Federal Reserve (Fed), which in turn, was seen as a key factor weighing on the USD/CHF pair. US President Donald Trump stepped up his criticism of Fed Chairman Jerome Powell for not cutting interest rates, calling him a "bad guy". Trump also floated the idea of firing Powell and said that he is considering...
Oil prices edged higher on Wednesday, extending gains from the previous day as a bigger-than-expected drop in US crude stockpiles signalled strong demand, while investors remained cautious about the Iran-Israel ceasefire and stability in the Middle East. Brent crude futures rose 15 cents, or 0.2%, to $67.83 a barrel by 0330 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 20 cents, or 0.3%, to $65.12 a barrel. Both benchmarks rose nearly 1% on Wednesday, recovering from losses earlier in the week after data showed strong U.S. demand. "Some buyers are liking the strong demand...
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...