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 edged up on Tuesday as investors awaited further clarity on US-China trade talks and awaited key US inflation data due later in the week for clues on the Federal Reserve's future interest rate decision. Spot gold was up 0.3% at $3,336.33 an ounce, as of 1224 GMT, after falling as low as $3,301.54 earlier in the session. US gold futures were up 0.1% at $3,357.20. "Gold prices found a bottom amid dip buying, although the rally lacked conviction. Fiscal concerns and Fed rate cut bets were the catalysts for the recovery," said Jigar Trivedi, senior commodities analyst at Reliance...
Silver (XAG/USD) recovered from early losses and rebounded near $36.70 from an intraday low of $36.30 during European trading hours on Tuesday (6/10). The white metal recovered amid uncertainty over the outcome of the trade talks between the United States (US) and China in London, which have entered their second day. During European trading hours, the White House has hinted that trade discussions between the two countries are going well and negotiations will continue throughout the day. Theoretically, optimism over the Sino-US trade talks will reduce demand for safe-haven assets, such as...
Oil prices rose on Tuesday as investors awaited the outcome of U.S.-China trade talks and as Saudi Arabia's crude supplies to China were set to drop slightly. Brent crude futures rose 34 cents, or 0.5%, to $67.38 a barrel by 1045 GMT. U.S. West Texas Intermediate crude futures rose 33 cents, or 0.5%, to $65.62. Brent had risen to $67.19 on Monday, its highest since April 28, supported by the prospect of a U.S.-China trade deal. U.S.-China trade talks are set to continue for a second day in London as top officials aim to defuse tensions that have flared over tariffs and rare earth...
EUR/USD is trading slightly lower on Tuesday (6/10). The pair has dropped to just below 1.1400 at the time of writing, still within the range of the past few days, with investors reluctant to place any major directional bets as US and Chinese representatives continue to discuss trade issues. Positive statements from some officials, namely US President Donald Trump's assertion that he got a "good report" from the meeting, have helped keep market sentiment buoyant and have provided some support to the US Dollar (USD). However, traders are likely to remain on the sidelines, waiting for news...
The U.S. dollar strengthened on Tuesday as talks between Beijing and Washington continued for a second day, raising investor hopes of an easing in trade tensions, while sterling fell as U.K. jobs data showed a weaker labor market. Officials from the world's two largest economies are meeting in London to try to defuse a dispute that has widened from tariffs to restrictions on rare earths. "Unlike the Geneva talks (held in May), where tariff relief provided an easy win, the London talks are now tackling thornier issues such as export controls on chips, rare earths and student visas," said...
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...