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 euro rebounded above $1.16, reaching its strongest level since mid-November, as investors adopted a cautious stance ahead of key Eurozone and US economic data that could influence interest rate expectations. Recent inflation reports showed Germany's EU-harmonized rate accelerating to 2.6%, its highest since February, while Spain's HICP remained well above the ECB's 2% target. In contrast, inflation in France and Italy stayed below target. The data, combined with ECB meeting minutes indicating policymakers see little urgency to cut rates, left market expectations largely unchanged, with...
Gold prices traded near a six-week high on Monday, supported by a weaker dollar and firm expectations that the Federal Reserve could cut interest rates at its meeting later this month. Spot gold was last up 0.2% at $4,240.55 an ounce by 02:32 ET (06:32 GMT), after reaching a six-week high of $4,256.2 earlier in the day. U.S. Gold Futures for February rose 0.5% to $4,274.55. Gold prices had jumped more than 4% last week. Gold supported by weaker dollar, Fed cut bets The US Dollar Index traded at a two-week low on Monday, making bullion more attractive for non-U.S. buyers, while risk-off...
The Japanese yen (JPY) continued to strengthen throughout the Asian session on Monday (December 1st) after Bank of Japan Governor Kazuo Ueda again signaled that an interest rate hike could be imminent. These hawkish comments sent Japanese government bond yields to their highest level in years, narrowing the interest rate spread between Japan and other major economies. Coupled with a cautious market sentiment, the yen has increasingly been viewed as a safe haven currency, further strengthening its position. Meanwhile, the US dollar (USD) weakened, hitting its lowest point in nearly two...
Gold prices weakened in early December, dragged down by investor caution ahead of the Federal Reserve's looming interest rate decision. Amid speculation that the Fed was ready to cut rates again this month, market participants opted to hold back, keeping gold's movements limited. Pressure from the mixed US dollar also prevented gold from posting significant gains. Despite showing some strength in the previous month, gold is now moving defensively due to ongoing global uncertainty. US economic data released in the next few days—including inflation, consumer spending, and signs of a weakening...
Oil prices rose again after OPEC+ confirmed plans to temporarily halt production increases during the first quarter. This Saudi Arabia-led decision is considered a response to seasonally weaker market conditions. Brent is now trading above $63 per barrel, while WTI is approaching $60, signaling that the market is beginning to adjust to the new supply policy. This increase comes after oil posted four consecutive monthly declines due to concerns about a supply surplus. The IEA even predicted a record supply glut in 2026, while JPMorgan forecast oil prices could fall to nearly $50 per barrel....
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...