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 prices fell early in Asia. A series of mixed signals from the Trump administration over the weekend regarding tariffs on smartphones, laptops and other electronics have fueled fresh uncertainty over US trade policy. Changes in US tariff policy continue to drive dramatic swings in commodity prices, Olivia Cross of Capital Economics said in a note. "In the short term, policy announcements will likely be the main driver of commodity prices, along with economic data that may reflect the impact of tariffs on industrial activity and trade," the climate and commodities economist added....
Gold fell slightly from a record as markets digested the latest U.S. trade news from President Donald Trump, who has turned to safe havens amid growing confusion over his tariff agenda. Bullion fell as much as 0.8% in early trading on Monday — following a more than 6% gain last week that saw it trade above $3,245 an ounce for the first time. The decline came after a modest reprieve for the dollar from its recent rout, following a U.S. pause on reciprocal tariffs on smartphones, computers and other electronics. However, the recovery stalled after Trump on Sunday signaled separate duties on...
The US dollar index (DXY) continued its slide on Friday, falling near the 100 area after hitting a fresh three-year low earlier in the day. The downtrend reflects a broad decline in investor confidence as fresh data and central bank comments paint a grim picture for the US economy. The University of Michigan sentiment index fell in April, while the Producer Price Index came in below estimates, adding to market fears of disinflation. Several Federal Reserve officials have flagged rising inflation expectations as a risk, even as near-term economic data hints at weakening demand. Technically,...
WTI crude prices rose 2.4% to settle at $61.50 a barrel on Friday, after U.S. Energy Secretary Chris Wright hinted the U.S. may block Iranian oil exports in a bid to pressure Tehran over its nuclear program. However, concerns over the U.S.-China trade dispute continue to weigh on demand expectations. China announced a sharp increase in tariffs on U.S. goods to 125%, while the White House confirmed total U.S. tariffs on Chinese imports now stand at 145%. In response, the U.S. Energy Information Administration cut its global oil demand forecast, warning that prolonged trade tensions could hurt...
Gold prices continued their rally for the third straight day on Friday (11/4) with the yellow metal hitting a new all-time high of $3,245. The gain of over 2% was recorded amid the escalating trade war between the US and China and its impact on the global economy. At the time of writing, XAU/USD was trading at $3,233. During the North American session, China imposed 125% tariffs on the US in retaliation for US President Donald Trump's decision to raise its import duties to 145% on Chinese products. Hence, investors seeking safety pushed the Bullion prices higher, driven by a weaker...
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...