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 dropped on Wednesday as optimism surrounding U.S.-China trade talks weakened demand for safe-haven assets, ahead of the Federal Reserve's policy decision later in the day. Spot gold fell 1.2% to $3,389.37 an ounce as of 0628 GMT. The metal had climbed nearly 3% on Tuesday. "Gold seems to be pulling back amid a broad-based 'risk on' move across markets... this is a pro-cyclical configuration that might echo optimism amid clues that the U.S. and China have started real trade negotiations," said Ilya Spivak, head of global macro at Tastylive. GLOB/MKTS U.S. Treasury Secretary...
The U.S. dollar rose against the safe-haven yen and Swiss franc while steadying versus the euro as investors looked towards the impending outcome of the Federal Reserve policy meeting later in the session and tariff negotiations. U.S. Treasury prices rose on Tuesday, as a well-received auction of the benchmark 10-year note suggested demand for Treasuries remained intact after a trade war shook investor confidence in U.S. assets. The greenback dropped sharply on the U.S. tariff announcement early last month before jumping on April 22 as U.S. Treasury Secretary Scott Bessent suggested there...
Oil prices rose on Wednesday, holding just above a four-year low, as investors focused on US-China trade talks and signs of declining US output. Brent crude futures were up 44 cents a barrel, or 0.7%, at $62.59 a barrel by 0400 GMT, while US West Texas Intermediate crude futures were up 50 cents, or 0.9%, at $59.59 a barrel. Both benchmarks have slumped to four-year lows recently after OPEC+ decided to accelerate output increases, stoking concerns about oversupply at a time when US tariffs have raised concerns about demand. "News that the US and China will start trade talks later this...
Gold prices fell on Wednesday as optimism over potential US-China trade talks dampened demand for safe-haven assets, while investors braced for the Federal Reserve's policy decision due later in the day. Spot gold fell 1.3% to $3,383.88 an ounce, as of 0432 GMT. The metal rose nearly 3% in the previous session. US gold futures fell about 1% to $3,391.80. "Gold appears to be weakening amid the broad risk-on movement across the market… this is a pro-cyclical configuration that may echo optimism amid hints that the US and China have begun real trade negotiations," said Ilya Spivak, global...
The GBP/USD pair attracted some sellers during the Asian session on Wednesday and eroded a part of its weekly gains recorded over the past two days, to the 1.3400 mark. The intraday downtick was sponsored by a modest US Dollar (USD) strength that dragged the spot prices below mid-1.3300s in the last hour. From a technical perspective, the GBP/USD pair started the week showing some resilience near the 1.3250-1.3245 support and bounced off the 100-period Exponential Moving Average (SMA) on the 4-hourly chart. Moreover, oscillators on the daily/hourly charts are holding in the positive...
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...