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 US Dollar Index (DXY) moved lower during Wednesday's session, lingering near the 104.00 area after President Donald Trump confirmed sweeping tariffs on global imports. The initial surge in yields and volatility gave way to a more cautious tone as details revealed a 10% blanket tariff and an additional 25% duty on imported vehicles. The announcement, while bold, lacked the aggressive edge markets feared, prompting a partial retreat in safe-haven flows. Source: FXstreet
Gold prices rose towards their record high on Wednesday, supported by safe-haven demand as markets braced for U.S. President Donald Trump's latest tariff plans later in the day. Spot gold was up 0.4% at $3,123.05 an ounce at 01:46 a.m. EDT (1746 GMT). U.S. gold futures settled 0.6% higher at $3,166.20. "Risks remain that tariffs could stoke inflation, which has buoyed gold prices. While a U.S. recession is not our base-case scenario, the risk of such has helped maintain strong interest in gold as a safe haven," said Standard Chartered analyst Suki Cooper. "If the tariffs are not as...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, starts to turn red and dips below 104.00 at the time of writing on Wednesday, while equities sell off and bond yields drop. The Greenback remains sidelined just hours before United States (US) President Donald Trump announces the reciprocal tariff implementation at the White House at 20:00 GMT. The White House and the Trump administration are very sketchy in details, and until now, it remains unclear what the tariffs will mean for markets. On the economic data releases, this...
Gold prices steadied near all-time highs Wednesday, as traders awaited more clarity on fresh trade tariffs from the Trump administration. At 08:05 ET (13:05 GMT), XAU/USD traded largely unchanged at $3,123.72 per ounce, just below Tuesday's all-time high of $3149.03. Gold Futures rose 0.5% to $3,161.31 an ounce. Trump tariff details due The yellow metal had hit consecutive fresh record-highs in the last four sessions, but traders were cautious on the day of Trump tariffs, leading to increased volatility on Wednesday. U.S. President Donald Trump is poised to implement extensive reciprocal...
Oil retreated, pausing last month's rally as traders position themselves for impending US tariff announcements. Brent slid close to $74 a barrel after slipping slightly on Tuesday. US President Donald Trump is set to announce his tariff measures later on Wednesday, and the sweeping duties will take immediate effect, according to his top spokeswoman. Several proposals are said to be under consideration, including a tiered tariff system with a set of flat rates for different countries, as well as a more customized "reciprocal" plan. Wide-ranging measures remained 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...