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...
Oil prices jumped on Monday to their highest since January as Washington's weekend move to join Israel in striking Iran's nuclear facilities stoked supply concerns. Brent crude futures were up $1.88, or 2.44%, at $78.89 a barrel by 1122 GMT. U.S. West Texas Intermediate crude was up $1.87, or 2.53%, at $75.71. Both contracts jumped more than 3% earlier in the session to $81.40 and $78.40, respectively, their highest in five months, before giving up some of the gains. The price surge came after U.S. President Donald Trump said he had "destroyed" Iran's main nuclear site in an attack over...
The dollar gained in early trading as investors sought to hedge against rising geopolitical risks following the U.S. attack on Iran. The U.S. currency gained slightly against the euro and most other major currencies as markets began the week in Asia. Crude oil futures rose and U.S. equity contracts fell as the bombings stoked demand for security and concerns about energy supplies. Government bonds edged higher. "We expect some risk relief, but not aggressively," said Diego Fernandez, chief investment officer at A&G Banco in Madrid. "The world may be a safer place without the Iranian...
Gold edges higher in the early Asian session amid worries over the Middle East conflict. "Recent escalation between the U.S. and Iran, marked by airstrikes on Iranian nuclear sites, has introduced a new layer of uncertainty into global markets," DHF Capital's Bas Kooijman says. "The fear of a broader regional conflict in the Middle East has driven a surge in demand for gold as investors seek to mitigate risk," the CEO and asset manager adds. Spot gold is 0.2% higher at $3,373.57/oz. (alg) Source: Dow Jones Newswires
Oil prices fell on Friday, but remained on course for a third consecutive weekly rise, after the White House delayed a decision on U.S. involvement in the Israel-Iran conflict. Brent crude futures fell $1.89, or 2.4%, to $76.96 a barrel by 1000 GMT. They were still set to gain nearly 4% on the week. U.S. West Texas Intermediate crude for July - which did not settle on Thursday as it was a U.S. holiday and expires on Friday - was up 82 cents, or 1.1% to $75.96. The more liquid August contract was up around 0.4%, or 27 cents, to $73.77. On Thursday prices jumped almost 3% after Israel...
The EUR/USD pair is trading higher for the third consecutive day on Friday and has returned above the 1.1500 level, trading at 1.1520 at the moment of writing. US President Donald Trump's comments saying that he needs two weeks to decide on entering the Middle East conflict have eased investors' fears of an imminent attack and provided some support to the Euro. The pair, however, remains on track to a moderate weekly loss, as investors' concerns that the war between Iran and Israel might turn into a wider regional conflict have kept risk appetite subdued, boosting demand for the US Dollar...
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...