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 Australian Dollar (AUD) loses ground against the US Dollar (USD) on Friday. The AUD/USD pair depreciates as the White House confirmed that the cumulative US tariffs on Chinese goods have risen to 145%. The announcement heightened tensions in the ongoing trade dispute between the world's two largest economies, raising concerns for Australia given its strong trade ties with China. The AUD found support on Thursday from reports that Australia is preparing to resume trade negotiations with the European Union (EU). Moreover, the Wall Street Journal reported that China also held talks with EU...
Gold price is retreating from fresh all-time highs of $3,220 in early Europe on Friday. The US Dollar downward spiral and escalating trade war between the United States and China continue to underpin the safe-haven appeal of Gold price. US PPI inflation data and tariff updates remain on tap. Mounting concerns over the financial stability and the economic situation in the United States (US) have accelerated the selling interest around the US Dollar (USD), pushing Gold price for another ride higher. The US Federal Reserve's (Fed) independence has always been under threat, and on April 9 US...
EUR/USD extends its gains for the second successive day, trading near 1.1350 during Friday's Asian session. The Euro (EUR) strengthened after the European Union (EU) announced a 90-day pause on new 25% tariffs on the United States (US), aiming to create space for trade negotiations. A sudden policy reversal by the White House on Wednesday now means the EU will face a 10% duty on exports to the US until July—rather than the 20% "reciprocal tariff" that was briefly implemented. However, Trump's 25% tariffs on steel, aluminum, and cars remain in effect. Traders adjusted their expectations for...
GBP/USD is on track for its fourth consecutive daily gain, trading near 1.3030 during Friday's Asian session. The pair continues to strengthen as the US Dollar loses ground amid lingering concerns over both the global and US economies. The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, has slipped to around 100.20 at the time of writing. The DXY's decline follows a surprise drop in US consumer prices for March, shifting investor focus to upcoming key data releases — the March Producer Price Index (PPI) and preliminary Michigan Consumer Sentiment,...
Silver (XAG/USD) continues its winning streak for the third straight session, trading around $31.30 during Friday's Asian session. The precious metal is gaining traction as the US Dollar weakens, with the US Dollar Index (DXY) dipping to around 100.20 at the time of writing. Investor demand for safe-haven assets like Silver is also being fueled by escalating US-China trade tensions. On Thursday, the US announced a sharp increase in tariffs on Chinese imports—raising them to 145% with a new 125% levy on top of an existing 20% duty. This move overshadowed US President Donald Trump's 90-day...
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...