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) strengthened during the American session on Wednesday (09/4), climbing to the mid-0.6100s as the US Dollar (USD) continued to weaken amid a risk-on rally in global markets. The currency pair rallied sharply after US President Donald Trump abruptly suspended most tariffs for 90 days, sparking a surge in equities and helping risk-sensitive currencies. The minutes of the Federal Reserve's (Fed) March meeting, released during the session, revealed that policymakers were grappling with a "difficult compromise" due to persistent inflation pressures and a weakening...
Oil prices rose more than 4% on Wednesday, rebounding from four-year lows hit earlier in the session, after U.S. President Donald Trump said he would continue to raise tariffs on China but halt the ones he announced last week for most other countries. Trump authorized a 90-day halt and raised tariffs on China to 125%, effective immediately. The previously announced 104% tariffs on China went into effect on Wednesday. Brent crude futures settled up $2.66, or 4.23%, at $65.48 a barrel. U.S. West Texas Intermediate crude futures settled up $2.77, or 4.65%, at $62.35. Both contracts had...
Gold prices jumped more than 3% to above $3,065 an ounce on Wednesday, as escalating U.S.-China trade tensions fueled demand for the safe-haven asset. Trump announced on Truth Social a 90-day pause and a 10% reciprocal tariff reduction for all countries except China. In the same post, he said tariffs on Chinese imports would rise to 125%. Treasury Secretary Scott Bessent later clarified that the 10% tariffs apply during negotiations but exclude China and sector-specific tariffs. The move followed Beijing's announcement of new tariffs on U.S. goods to 84%, up from 34%, and the European...
Oil prices plunged to a four-year low and traded below $60 a barrel on Wednesday, while some commodities, including coffee, plunged as the trade war between China and the United States escalated, with Beijing announcing higher tariffs on U.S. imports. Asian and European equities fell and U.S. markets opened slightly lower as the imposition of steep U.S. tariffs, including a 104 percent duty on some Chinese goods, deepened fears of a global recession. In retaliation, China said it would impose tariffs of 84 percent on U.S. goods starting Thursday, up from the previously announced 34...
Gold rallied as much as 3% global markets gyrated and the dollar weakened after US President Donald Trump imposed sweeping new import tariffs and China hit back with levies of its own. A vicious selloff of US government bonds — typically a safe haven in times of turmoil — underscored a jittery day for investors as Trump's historic trade measures came into effect. Bullion extended recent declines before swinging sharply higher. "Gold's rebound reflects growing investor anxiety over tariff threats and the potential reshaping of global trade norms," said Christopher Wong, a foreign...
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...