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...
EUR/USD fell after hitting a six-week peak of 1.1454 on Tuesday (03/06) amid growing market concerns about a trade war triggered by the United States (US). The appreciation of the greenback weighed on the currency pair, which was trading at 1.1379, down 0.52%. Wall Street remained in the green zone on news that US President Donald Trump will reportedly speak with Chinese President Xi Jinping this week, according to Reuters sources. Data from the United States lifted the US Dollar (USD), which has been battered and lost almost 2% this week, according to the US Dollar Index (DXY). The US Job...
Oil prices rose about 2% on Tuesday to their highest in two weeks as geopolitical tensions between Russia and Ukraine continued, and the U.S. and Iran appeared set to keep sanctions on OPEC+ members Russia and Iran in place for a while longer. Brent crude futures rose $1, or 1.5%, to settle at $65.63 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 89 cents, or 1.4%, to settle at $63.41. "Risk premiums have increased this week as the prospect of a Russia/Ukraine ceasefire and Iran nuclear deal now appear to have been put on hold for weeks or even months," analysts at energy...
Gold fell nearly 1% on Tuesday after hitting a near four-week high, pressured by a stronger dollar as investors turned cautious ahead of a potential call between U.S. President Donald Trump and Chinese leader Xi Jinping. Spot gold fell 0.9% to $3,352.30 an ounce by 2:26 p.m. ET (1826 GMT), after hitting its highest since May 8 earlier in the session. U.S. gold futures settled 0.6% lower at $3,377.10. The dollar (.DXY), opens a new tab , rose 0.5% from a more than month-long low hit earlier in the session, making gold more expensive for foreign buyers. "We're entering what's known as the...
Gold prices pared some of their gains on Monday as they fell more than 1% on Tuesday (03/6) following jobs data from the United States (US), which revealed that the labor market remains tight. At the same time, the overall strength of the greenback weighed on the non-yielding metal. XAU/USD was trading at $3,348 after hitting an intraday high of $3,392. Investors' mood turned optimistic after the release of the latest US Job Openings & Labor Turnover Survey (JOLTS), which showed that job openings rose sharply in April. The data was positive, ahead of a busy week of much-anticipated jobs...
Oil prices rose about 2% on Tuesday to their highest in two weeks, as persistent geopolitical tensions between Russia and Ukraine and the U.S. and Iran appeared likely to keep sanctions on Russia and Iran in place longer. Brent crude futures rose $1.11, or 1.7%, to settle at $65.74 a barrel by 11:21 a.m. EDT (1521 GMT), while U.S. West Texas Intermediate (WTI) crude rose $1.17, or 1.9%, to settle at $63.69. That put Brent on track for its highest close since May 14 and WTI on track for its highest close since May 13. "The risk premium has returned to oil prices after Ukraine's deep...
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...