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 reversed course and rose on Monday (4/28) as bargain hunting began, while market focus turned to developments in the U.S.-China trade war and a slew of economic data. Spot gold was up 0.4% at $3,332.59 an ounce by 12:09 p.m. ET (1609 GMT) after falling as much as 1.8% earlier in the session. U.S. gold futures were up 1.4% at $3,344.0. "We are starting to see the first signs of selling exhaustion," said TD Securities commodity strategist Daniel Ghali, adding that downside risks to gold are limited. "Western investors, particularly discretionary or macro funds, have been...
Gold prices dipped for a second straight session on Monday as U.S.-China trade tensions eased, and the market awaited data due this week. Spot gold was down 0.6% at $3,297.10 an ounce as of 09:27 a.m. ET (1327 GMT). U.S. gold futures rose 0.3% to $3,307.80. "Gold prices are still dealing with the improved optimism over a U.S.-China trade deal even though there is a lack of clarity," Zain Vawda, analyst at MarketPulse by OANDA, said. The hopes that tariff damage was being contained also kept global equity markets at their highest over three weeks. U.S. President Donald Trump says progress...
Oil prices were stable on Monday as investors weighed up uncertainty over trade talks between the U.S. and China, clouding the outlook for global growth and fuel demand, as well as the prospect of OPEC+ raising supply. Brent crude futures were down 15 cents, or 0.22%, at $66.72 a barrel, as of 1204 GMT. U.S. West Texas Intermediate crude shed 16 cents, or 0.25%, to $62.86 a barrel. Brent futures rose marginally in the previous two sessions, but nonetheless marked a week-on-week decrease of over 1% on Friday on concerns about the impact of tariffs on the global economy. The U.S.-China...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades broadly flat on Monday just below the 100.00-marker. Over the weekend, United States (US) Treasury Secretary Scott Bessent said trade deal negotiations with several Asian countries are underway, while US Agriculture Secretary Brooke Rollins added that the Trump administration is having "daily conversations" with China over tariffs. However, China said on Monday that it is not engaged in trade negotiations with the US. The country reiterated that there are no winners in a...
The dollar held steady on Monday as investors waited warily on news of U.S. trade policy and braced for a week packed with economic data that may give a first glimpse of whether U.S. President Donald Trump's trade war is hitting home. At 143.69 yen and $1.1325 per euro the dollar has, for now, found a footing, while staying on course for its largest monthly fall in nearly 2-1/2 years as Trump has rattled confidence in the dependability of U.S. assets. It is down more than 4% on both the euro and the yen through April, though bounced at the end of last week on an apparent conciliatory shift...
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...