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...
Gold prices fell more than 2% on Monday, with investors turning to the dollar as a safe haven after broad U.S. tariffs raised fears of a global recession. However, analysts remained bullish on bullion given the challenging economic environment. Spot gold prices fell 2.4% to $2,963.19 an ounce by 1:36 p.m. ET (1736 GMT), after hitting a near four-week low of $2,955.89 earlier in the session. U.S. gold futures settled 2% lower at $2,973.60. "Gold prices fell as investors turned to cash and other safe havens such as the Swiss franc and Japanese yen amid market turmoil, which creates the risk...
Gold prices fell on Monday as investors turned to the dollar as a safe haven after broad U.S. tariffs raised fears of a global recession. However, analysts remained optimistic about bullion given the challenging economic environment. Spot gold fell 0.2% to $3,030.69 an ounce by 9:01 a.m. ET (1301 GMT), after hitting a more than three-week low of $2,971.09 earlier in the session. U.S. gold futures rose 0.5% to $3,048.90. "Gold prices fell as investors turned to cash and other safe havens such as the Swiss franc and Japanese yen amid market turmoil, which creates the risk of a deeper...
Oil posted a third steep decline — with the US benchmark falling below $60 a barrel — as another plunge across financial markets was compounded by Saudi Arabia making some of the biggest cuts in years to its flagship oil price. The plunge in just a few days is threatening the coffers of oil-producing nations that need far higher prices to meet their budgets. At the same time, it will take some of the sting out of inflationary pressures from Donald Trump's tariffs on trade partners. Oil major BP Plc's shares have declined as much as 20% in three trading sessions while...
Gold futures rise in volatile trading. Futures are up 0.7% at $3,056.50 a troy ounce, having traded as high as $3,084.40/oz and as low as $2,985/oz earlier in the session. The precious metal has seen significant swings as traders and funds are forced to liquidate holdings to meet margin calls elsewhere in the market, SP Angel analysts say in a note. The Trump administration is holding firm on its tariff position despite widespread market turmoil. While it is normal for gold to fall in the event of a market collapse, it is always the first instrument to rebound as investors move out of...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, recovers initial losses and trades near 103.00 at the time of writing on Monday after an earliest move lower. Markets were selling the US Dollar again as Equities, Yields and precious metals dropped lower. The concern comes after US President Donald Trump said over the weekend that he will be sticking to his tariffs plan, while financial backer and billionaire Bill Ackman warned the President that he is losing business leaders' confidence. On the economic front, all eyes will be on...
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...