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 GBP/USD pair attracted buyers for the sixth straight day and climbed above the 1.3200 mark, hitting a fresh high since October 2024 during the Asian session on Tuesday (4/15). Moreover, the bearish sentiment surrounding the US Dollar (USD) suggests that the path of least resistance for spot prices remains upwards. Investors remain concerned about the potential economic impact of the escalating US-China trade war. In fact, China increased its tariffs on US imports to 125% on Friday in retaliation for US President Donald Trump's decision to raise duties on Chinese goods to an...
EUR/USD continued to decline for the second straight session, trading near 1.1350 during Asian hours on Tuesday (4/15). The pair weakened as the US dollar (USD) tried to regain stability amid growing concerns over stagflation. Early on Tuesday, Atlanta Fed President Raphael Bostic commented that the Federal Reserve still has a long way to go to bring inflation down to its 2% target. His remarks dampened market expectations for further rate cuts in the near term. In a shift from its previous outlook, Deutsche Bank now anticipates a 25 basis point rate cut in December—the first cut forecast...
Oil prices edged up in Asian trade on Tuesday, helped by the prospect of a temporary halt to President Donald Trump's auto tariffs and a pick-up in Chinese crude imports, as markets eyed U.S.-Iran nuclear talks for clues on the demand outlook. At 10:05 p.m. ET (02:05 GMT), Brent crude futures expiring in June were up 0.2% at $65.02 a barrel, while West Texas Intermediate crude futures rose 0.3% to $61.25 a barrel. Both contracts closed little changed on Monday and remained near four-year lows hit last week. "The market is digesting fast-moving policy developments on the tariff front,...
Gold gained on Tuesday amid continued uncertainty over US President Donald Trump's tariff plans and their impact on the global economy. Spot gold was up 0.4% at $3,221.70 an ounce, as of 0245 GMT. Bullion hit a record high of $3,245.42 on Monday. US gold futures were up 0.4% at $3,237.60. "Gold continues to strengthen today… on continued investor demand for defensive assets to reduce portfolio volatility as the US appears to be setting the stage for more tariffs to come," said IG market strategist Yeap Jun Rong. The US is continuing its probe into pharmaceutical and semiconductor imports...
The dollar was steady on Tuesday but remained close to a three-year low against the euro and a six-month low versus the yen hit last week as investors struggled to make sense of a flurry of U.S. tariffs. However, currency markets were much calmer in early Asian hours after last week's turmoil that hit the dollar hard despite a surge in Treasury yields, highlighting shaky investor confidence in the greenback and U.S. assets. The dollar was up 0.27% at 143.53 yen but remained close to a six-month low of 142.05 hit on Friday. The euro was down 0.22% at $1.1324, just below a three-year high of...
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...