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...
The dollar index fell to 101.5 on Tuesday after weaker-than-expected inflation data suggested only a modest impact from President Donald Trump's recently imposed tariffs. According to the Bureau of Labor Statistics, consumer price inflation eased to 2.3% in April—its lowest level since February 2021 and slightly below market expectations of 2.4%. On a monthly basis, CPI rose 0.2%, rebounding from a 0.1% decline in March but still missing the forecasted 0.3% increase. Core inflation held steady at 2.8% year-over-year, marking a four-year low. Markets also continued to weigh the implications...
Silver prices surged nearly 2% to above $33 per ounce on Tuesday, rebounding from losses in the previous session as initial enthusiasm over the US-China trade agreement began to wane, giving way to broader market caution. The rally followed weekend negotiations in Switzerland, where Washington and Beijing agreed to reduce their respective tariffs to 10% and 30% for a 90-day period—marking a significant, though temporary, de-escalation in trade tensions. While officials from both countries are expected to reconvene in the coming weeks to pursue a broader trade accord, uncertainty remains...
Oil prices held steady on Tuesday, weighed down by rising supplies and caution over whether the pause in the U.S.-China trade war will lead to a longer-term deal. Brent crude futures gained 9 cents, or 0.14%, to $65.05 a barrel by 0803 GMT. U.S. West Texas Intermediate (WTI) crude was up 11 cents, or about 0.2%, at $62.06. The two benchmarks rose by about 4% or more in the previous session after the U.S. and China agreed on sharp reductions to tariffs for at least 90 days, which also boosted Wall Street stocks and the dollar. The market is now evaluating the impact of the trade truce,...
The dollar retreated slightly on Tuesday but held on to most of the previous session's gains on lingering optimism over a tariff deal between the United States and China, which tapped the brakes on a trade war between the world's two largest economies. Washington and Beijing on Monday announced an agreement to slash the massive tariffs they had imposed on each other for 90 days, sparking a relief rally across markets that swept up global stocks and sent the dollar surging. The situation is still very dollar-centric according to Kit Juckes, chief FX strategist at Societe Generale, who said...
Gold recovered on Tuesday as bargain-hunters stepped in after prices hit a more than one-week low in the previous session, pressured by a U.S.-China tariff truce that lifted appetite for riskier assets and dented bullion's safe-haven appeal. Spot gold was up 0.6% at $3,254.39 an ounce, as of 0639 GMT. Bullion recorded a 2.7% decline in the previous session. U.S. gold futures were up 1% at $3,258.70. After two days of negotiations in Geneva, U.S. and China announced tariff reductions for the next three months, with U.S. tariffs on Chinese imports dropping from 145% to 30% and Chinese...
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...