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 show minimal gains as the Asian session begins, following the Fed's decision to maintain rates, while indicating they are still considering two rate cuts. Meanwhile, US President Donald Trump's comments on Iran triggered a pullback towards a weekly low of $3,362, before settling at around current levels. The XAU/USD trades at $3,375, up 0.19%. On Wednesday, the Fed maintained rates as expected and updated its economic projections for the United States (US). The medians suggest that Gross Domestic Product (GDP) would be lower than the March forecasts, while the unemployment rate...
GBP/USD spun a circle on Wednesday, rising and falling through the Federal Reserve's (Fed) latest rate hold. Cable is caught in intraday consolidation near the 1.3400 handle, as Pound Sterling traders gear up for the Bank of England's (BoE) own interest rate decision, due early Thursday. The Federal Reserve (Fed) hit the mark on Wednesday and kept interest rates on hold, as most investors expected. Traders are still pricing in around 50 basis points in interest rate cuts through the end of 2025, and the Federal Open Market Committee (FOMC) generally seems to agree with that assessment....
EUR/USD trades almost flat after climbing past the 1.1500 figure, following the Federal Reserve's (Fed) decision to hold rates unchanged, amid increasing tensions in the Middle East. This, along with comments from US President Donald Trump, boosted the Dollar, capping the Euro's (EUR) advance. At the time of writing, the pair trades at 1.1476, virtually unchanged. Recently, the Fed kept rates at the 4.25%–4.50% range, reaffirming that the economy is expanding solidly, with strong labor market conditions. The US central bank reiterated its commitment to monitoring risks associated with both...
Oil prices settled higher on Wednesday in a volatile session as investors weighed the chance of supply disruptions from the Iran-Israel conflict and potential direct U.S. involvement. Brent crude futures settled 25 cents higher at $76.70 a barrel. U.S. West Texas Intermediate crude rose 30 cents at $75.14. Earlier in the session, prices were down around 2%. On Tuesday, prices jumped over 4%. Iranian Supreme Leader Ayatollah Ali Khamenei rejected U.S. President Donald Trump's demand for unconditional surrender, and Trump said his patience had run out but did not indicate what his next step...
The US Dollar Index (DXY) whipsawed on Wednesday after the Federal Reserve's (Fed) Federal Open Market Committee (FOMC) kept interest rates unchanged, as investors had broadly expected. The Greenback continues to churn in a long-tailed midrange near the 98.60 region as traders await Fed Chair Jerome Powell's upcoming press conference and follow-up Q&A session. The Fed still sees an average of 50 basis points in interest rate cuts by the end of the year, following closely with what is priced in according to the CME's FedWatch Tool. However, ongoing trade policy uncertainty has pushed...
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...