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 US dollar (USD) edged higher on Friday (4/25) as investors digested conflicting messages from the United States and China regarding potential tariff negotiations. While President Donald Trump hinted that dialogue was underway, Beijing has flatly denied that any talks are currently taking place. The differences injected volatility into the market, although the greenback maintained its lead, with the US Dollar Index (DXY) up around 0.37% near the 99.65 zone at the time of writing. Despite entering a data-light session ahead of the May 7 Federal Open Market Committee (FOMC) meeting, market...
Gold prices fell 2% on Friday and were on track for a weekly decline as the dollar strengthened and signs of easing U.S.-China trade tensions after a report that Beijing has exempted some U.S. goods from its tariffs weighed on bullion. Spot gold fell 1.7% to $3,292.99 an ounce by 1:39 a.m. EDT (1739 GMT), after dropping as much as 2% earlier in the session. Bullion was down 1.2% for the week. U.S. gold futures settled 1.5% lower at $3,298.40. "The apparent reduction in tariffs has had a negative impact on gold prices ... But so far we haven't seen any substantial liquidation," said TD...
Oil prices edged up on Friday but fell for the week, pressured by market expectations of a supply glut and uncertainty surrounding tariff talks between the U.S. and China. Brent crude settled 32 cents higher at $66.87 a barrel, bringing losses to 1.6% for the week. U.S. West Texas Intermediate crude rose 23 cents to $63.02 a barrel, marking a weekly decline of 2.6%. China exempted some U.S. imports from its high tariffs in a sign on Friday that the trade war between the world's top two economies may be easing, although Beijing quickly dismissed U.S. President Donald Trump's assertion that...
Gold declined more than 1% on Friday and was headed for a weekly fall as news that China has exempted some U.S. goods from its tariffs raised hopes of a de-escalation in trade tensions. Spot gold was down 1.5% at $3,296.19 an ounce as of 1136 GMT. It hit a record high earlier this week. U.S. gold futures shed 1.3% to $3,306.50. "Gold is facing challenges in sustaining its upward momentum as optimism around a potential U.S.-China trade agreement grows," said Zain Vawda, analyst at MarketPulse by OANDA. China has exempted some U.S. imports from its 125% tariffs and is asking firms to...
Oil prices fell Friday, on track for sharp weekly losses as expectations of increased OPEC+ supply and lingering uncertainty over U.S.-China tariff talks weighed on sentiment. At 08:10 ET (12:10 GMT), Brent Oil Futures expiring in June fell 1.2% to $65.70 per barrel, while West Texas Intermediate WTI crude futures dropped 1.2% to $62.06 per barrel. Both contracts were set to decline over 3% this week, having fallen more than 10% in April. Potential OPEC+ output hike weighs Several OPEC+ nations are pushing to accelerate oil output hikes in June, extending May's surprise boost, as...
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...