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 USD/JPY pair is trading near 148.00, up approximately 2% on the day, as risk-on sentiment dominates global markets following a significant breakthrough in US-China trade relations. Over the weekend, the two economic giants agreed to a 90-day tariff reduction, with the US cutting its tariffs on Chinese imports to 30% (from 145%) and China reducing its duties to 10% (from 125%). This temporary de-escalation has sparked a rally in risky assets, weighing on traditional safe-haven currencies like the Japanese yen. The US Dollar has surged in response to the trade truce, supported by a sharp...
The Australian Dollar (AUD) is facing downward pressure as global trade dynamics shift, particularly between the United States (US) and China. Despite signs of stronger Chinese copper production, trade agreements and Federal Reserve (Fed) policies continue to shape investor sentiment, with the Fed expected to hold rates steady through the next few months. USD surges as trade war coolsThe US Dollar gains as the DXY approaches key resistance levels after news of a 90-day tariff pause between the US and China.China's copper production shows signs of expansion, alleviating concerns about global...
Gold prices tumbled over 3% on Monday, following improvements in risk appetite after weekend discussions between the US and China, which agreed to a 90-day tariff reduction. At the time of writing, the XAU/USD trades at $3,225, having hit a daily high of $3,326. Wall Street registers gains in the aftermath of the US-China deal, in which both countries lowered duties and agreed to sustain further talks to reach a trade agreement following a meeting in Switzerland. Washington and Beijing agreed to lower duties from 145% to 30% and from 125% to 10%, respectively, as revealed in a joint...
The dollar surged on Monday as the United States and China reached a deal to temporarily cut reciprocal tariffs, easing concerns a trade war between the world's two biggest economies could lead to a global recession. The U.S. will reduce extra tariffs it imposed on Chinese imports in April to 30% from 145% and Chinese duties on U.S. imports will fall to 10% from 125%, effective for 90 days. The de-escalation surpassed investor expectations, with many expecting an introductory round of talks with few, if any, agreements. "It's 90 days and so this basically buys some more time, I sort of...
Brent Crude Oil has extended gains at the start of the trading week, buoyed by a temporary easing in geopolitical tensions and improving macroeconomic sentiment. As of publication time, Brent is trading at approximately $65.40 per barrel, marking a 2.37% gain on the day. The move follows an agreement between the United States (US) and China to reduce and suspend certain tariffs for a 90-day period—an initiative widely seen as a de-escalation of trade hostilities and a potential catalyst for global economic stabilization. The bilateral tariff truce is currently the principal driver of risk...
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...