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 halted their rise after a four-day rally, as comments from Federal Reserve (Fed) officials raised doubts about whether the US would cut interest rates again next year. On Monday, gold was stable at around US$4,305/ounce, after rising 2.6% last week. Although the Fed did cut interest rates on Wednesday, three policymakers apparently rejected the decision. The market is signaling that the next easing move could be more difficult and contentious, especially as 2026 approaches, when internal Fed views appear divided. The two officials who voted against it—Austan Goolsbee (Chicago)...
Oil prices remain stable near their lowest level in almost two months, as the market is more concerned about oversupply than the impact of geopolitical tensions. Brent held around US$61/barrel after closing at its lowest level since October 20, while WTI remains below US$58/barrel. The main pressure comes from expectations of a widening supply surplus: OPEC+ and other producers continue to pump more oil, while consumption growth is expected to remain sluggish. This situation means oil prices are expected to remain on a downward path for the year. However, geopolitics is also preventing...
The US dollar remains sluggish after experiencing intense pressure following the Fed's decision to cut interest rates by 25 bps. The US Dollar Index (DXY) remains in the lower zone and is trending lower weekly, as market participants assess the Fed's policy stance as being more dovish. Expectations of further interest rate cuts have diminished the dollar's appeal as a high-yielding asset, leading to more capital flows into other assets such as gold, silver, and some riskier currencies. Nevertheless, in the very short term, the dollar attempted a slight rebound in the US session as US bond...
Gold (XAU/USD) advances modestly on Friday as traders seem to book profits ahead of the weekend, yet clings to gains of over 0.51% after reaching a seven-week high of $4,353 as traders digest comments from Federal Reserve (Fed) officials. Bullion trims gains ahead of the weekend, but remains supported by Fed uncertainty, weak data. The US economic docket was light, yet Federal Reserve officials crossed the wires. Two of the three dissenters expressed concerns about inflation remaining too high, specifically amid a period of scarce economic data, particularly the Consumer Price Index (CPI),...
Silver fell below $62 per ounce on Friday after touching record highs earlier in the day as the rally eased amid profit taking and a brief consolidation phase going into the weekend, even as the broader bullish backdrop remained intact. The recent US Federal Reserve rate cut and its less hawkish outlook continued to underpin medium term support, with Powell signaling no further hikes and projecting one additional cut next year and another in 2027. Robust ETF inflows and strong retail demand reinforced expectations of a market deficit next year, while industrial demand from solar, electric...
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...