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 fell on Monday after U.S. President Donald Trump reversed course on his threat to impose 50% tariffs on goods from the European Union beginning June 1, reducing demand for the safe-haven asset. Spot gold was down 0.7% at $3,334.53 an ounce, as of 0848 GMT. U.S. gold futures fell 1% to $3,333.40. "I would call it a range-trading day," said Giovanni Staunovo, UBS analyst, attributing the modest drop in prices to Trump's decision to delay the imposition of higher tariffs on the EU. "With U.S. Memorial Day, activity is likely to be on the lower end today." The markets in the...
Gold price (XAU/USD) sticks to its modest intraday losses through the early part of the European session, though it lacks follow-through selling and remains close to over a two-week high touched on Friday. The latest optimism led by US President Donald Trump's decision to delay the implementation of tariffs on the European Union (EU) prompts some profit-taking around the safe-haven commodity, especially after last week's strong rally of nearly 5%. Meanwhile, worries over the worsening US fiscal health and the growing acceptance that the Federal Reserve (Fed) will cut rates further in 2025...
Oil prices recorded limited gains on Monday after U.S. President Donald Trump extended a deadline for trade talks with the European Union, easing concerns about U.S. tariffs on the bloc that could hurt the global economy. Brent crude futures rose 18 cents, or 0.28%, to $64.96 a barrel by 0653 GMT while U.S. West Texas Intermediate crude was up 17 cents, or 0.28%, at $61.7 a barrel. "A nice push higher in crude oil and U.S. equity futures this morning after U.S. President Trump extended the deadline," IG market analyst Tony Sycamore said. Trump said he agreed to extend a deadline for trade...
The Japanese yen steadied around 142.5 per dollar on Monday, maintaining gains after a 2% surge last week, supported by a weaker US dollar as President Donald Trump's unpredictable trade policies rattled investor confidence in US assets. Trump most recently threatened to impose a 50% tariff on the European Union, only to delay the measure days later. He also warned of a potential 25% levy on iPhones sold in the US that are not manufactured domestically, adding to broader trade policy uncertainty. At home, investors continue to gauge the Bank of Japan's policy outlook, with expectations...
The Australian Dollar (AUD) continues to gain ground against the US Dollar (USD) on Monday, marking fresh six-month highs. The AUD/USD pair receives support as the US Dollar remains under downward pressure amid rising uncertainty surrounding the United States (US) economy. The AUD's upside could be restrained due to dovish sentiment surrounding the Reserve Bank of Australia's (RBA) policy outlook. Following the previous week's 25 basis points interest rate cut by the RBA, Governor Michele Bullock mentioned that the central bank is prepared to take additional action if the economic outlook...
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...