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...
USD/CHF continues to slide for the third consecutive session, trading near 0.8070 during Tuesday's Asian session. The pair remains under pressure as the US Dollar (USD) struggles against a backdrop of escalating economic and political uncertainty in the United States. This uncertainty has amplified the Swiss Franc's (CHF) earlier gains, initially fueled by President Donald Trump's aggressive reciprocal tariff proposals. These developments have driven investors toward safer assets, such as foreign currencies and gold, away from USD-denominated securities. The CHF's recent strength against...
The Japanese Yen (JPY) jumps to a fresh seven-month high against a broadly weaker US Dollar (USD), dragging the USD/JPY pair closer to the 140.00 psychological mark during the Asian session on Tuesday. Fears that US President Donald Trump's tariffs and the escalating US-China trade war would dent global economic growth continue to boost demand for traditional safe-haven assets, including the JPY. Apart from this, the growing acceptance that the Bank of Japan (BoJ) will continue raising interest rates in 2025 turns out to be another factor underpinning the JPY. The USD, on the other hand,...
Gold price continues to build on its record rally, closing in on the $3,500 mark in Asian trading on Tuesday. Investors continue to flock to safety in the traditional store of value, the Gold price, amid no confidence in the US Dollar and Trump's attacks on Fed Chairman Powell.ust as the US-China trade war-led US recession fears weren't enough to sap investors' confidence, US President Donald Trump doubled down on his criticism of Federal Reserve (Fed) Chairman Jerome Powell since last Friday, negatively impacting the already beleaguered US Dollar (USD), lifting the traditional safe-haven...
The Australian Dollar (AUD) extends its gains against the US Dollar (USD) on Tuesday. The AUD/USD pair appreciates as investor sentiment took a hit following renewed criticism from US President Donald Trump directed at Federal Reserve (Fed) Chair Jerome Powell, raising fresh concerns about the Fed's independence. White House economic advisor Kevin Hassett said on Friday that Trump is exploring whether he has the authority to dismiss Powell. Trump also warned in a Truth Social post that the economy could slow down unless Powell acts swiftly to lower interest rates. Adding to the market...
Silver price (XAG/USD) dips slightly during Tuesday's Asian session, trading around $32.60 per troy ounce, after posting gains in the previous session. The grey metal is under pressure as the US Dollar (USD) regains strength. The US Dollar Index (DXY), which measures the Greenback against six major currencies, hovers near 98.30, supported by a rebound in the 2-year US Treasury yield, now at 3.77%. However, Silver could regain momentum as safe-haven demand persists amid ongoing economic uncertainty. The DXY recently fell to a three-year low after US President Donald Trump intensified...
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...