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...
Oil steadied above a four-year low as traders weighed the latest U.S. moves in a trade war, as well as "constructive" talks between Washington and Tehran. Brent traded below $65 a barrel after a week of losses while West Texas Intermediate neared $62. While President Donald Trump paused tariffs on some electronics, he also indicated that specific tariffs would be announced in due course. Meanwhile, easing tensions with Iran could offer the prospect of increased supply. The weekend talks in Oman marked the first high-level engagement since 2022, and signaled renewed efforts to resolve a...
As U.S. President Donald Trump escalates his tariff war on the world, gold has been rallying alongside it to a series of record highs. The precious metal hit a new peak of $3,245.28 an ounce on April 11 and has gained 28% since bottoming out at $2,536.71 on Nov. 14, shortly after Trump's victory that returned him to the White House to begin his second term in January. In some ways, gold is doing what it's supposed to do. It's offering investors a safe haven from the chaos that has engulfed many financial markets since Trump's ill-fated "Liberation Day" tariff announcement on April 2. The...
The USD/CHF pair moved higher in early Asian trading on Monday (4/14), holding around the 0.8170 level after posting losses in the last two consecutive sessions. Market participants are eyeing the release of Swiss Producer and Import Prices for March, due later today. However, the USD/CHF pair's gains may be restrained as the Swiss Franc (CHF) continues to receive support from safe-haven demand amid escalating trade tensions between the United States and China. The renewed friction has rekindled fears of a global recession, prompting investors to move away from US assets. Late last week, a...
Silver (XAG/USD) attracted some sellers at the start of a new week and fell back below the $32.00 round figure during the Asian session on Monday (4/14). The white metal, for now, seems to have snapped its three-day winning streak to over one-week highs touched on Friday, although the technical setup supports prospects for some dip-buying at lower levels. Last week's breakout through the 50% Fibonacci retracement level of the recent slump from the March swing high to fresh YTD lows touched last week was seen as a key trigger for bullish traders. However, the subsequent move higher struggled...
Oil prices edged lower in Asian trade on Monday as traders digested mixed signals on U.S. tariffs and the trade conflict with China, although weaker demand forecasts and lower prices continued to weigh. Oil prices were trading near a four-year low hit last week, as concerns over weak demand and trade-related disruptions hit commodity markets. The prospect of increased economic pressure on top oil importer China also weighed on prices, as Beijing engages in a bitter trade war with the United States. Brent crude for June delivery fell 0.3% to $64.56 a barrel, while West Texas Intermediate...
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...