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 AUD/USD pair remains resilient, despite a retreat from recent highs. The Australian Dollar (AUD) benefits from a weaker US Dollar (USD), as market participants focus on the Federal Reserve's (Fed) anticipated policy meeting on Wednesday. Meanwhile, the trade rhetoric surrounding the Trump administration keeps traders on edge, especially with President Donald Trump discussing possible changes to the United States-Mexico-Canada Agreement (USMCA). However, no definitive updates have been provided regarding trade deals, leaving uncertainty in global markets. The Australian Dollar is also...
Gold (XAU/USD) is rising sharply on Tuesday, supported by a convergence of geopolitical conflict, trade policy uncertainty, and investor defensiveness ahead of Wednesday's Federal Reserve (Fed) interest rate decision and Chair Jerome Powell's press conference. At the time of writing, Gold is trading around $3,396 per ounce, up 1.90% on the day and 4.5% on the week, as investors seek refuge from mounting global risks and a weakening US Dollar (USDThe rally in Gold reflects deepening global unease. Israel's expanding military campaign in Gaza, coupled with increased activity by Iranian-backed...
Oil gained more than $1.50 per barrel on Tuesday, rebounding on technical factors and bargain hunting after a decision by OPEC+ to boost output sent prices down in the previous session, although concerns about a market surplus persisted. Brent crude futures were up $1.80, or 3%, to $62.03 a barrel by 1310 GMT, the first gain after six consecutive declines, while U.S. West Texas Intermediate crude added $1.81, or 3.2%, to $58.94 a barrel. Both benchmarks had settled at their lowest levels since February 2021 on Monday, driven by an OPEC+ decision over the weekend to further speed up oil...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, edges lower while remaining stuck in a very tight range on Tuesday. Market participants are assessing the recent sharp move in the Taiwan Dollar (TWD), which appreciated by more than 5% against the Greenback on Monday before retreating somewhat on Tuesday. Markets are trying to assess if a spillover effect could occur, affecting bigger Asian currencies such as the South Korean Won (KRW), the Japanese Yen (JPY) or the Chinese Renminbi (CNH). Meanwhile, on the geopolitical front, a...
Gold prices rose to a two-week high on Tuesday, as tariff threats from U.S. President Donald Trump lifted demand for the safe-haven metal, while the Federal Reserve's policy decision this week was also in focus. Spot gold rose 1.4% to $3,381.37 an ounce, as of 1009 GMT, after hitting its highest since April 22 earlier in the session. U.S. gold futures gained 2% to $3,389.20. "The structural factors that supported gold in recent weeks are all still around - trade tensions are not fixed, concern about the dollar as a reserve currency," said UBS analyst Giovanni Staunovo. "We are still...
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...