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) attempted a rebound on Tuesday, with AUD/USD recovering toward the 0.6300 mark during the American session. The uptick, however, appeared modest and capped as the pair struggled to gain follow-through amid uncertainty around global trade developments, a cautious US Dollar (USD) backdrop and mixed technical signals. Price action unfolded in a tight range as investors assessed prospects for Australian fiscal policy ahead of the upcoming federal budget and closely monitored developments in US tariff policy. The broader outlook for the Aussie remains fragile, but...
The US Dollar Index (DXY) is experiencing mixed performance on Tuesday, trading around the middle of the 104.00 zone. Earlier in the day, the Greenback found support on stronger services activity and signs that proposed tariffs may be more targeted than feared. However, uncertainty returned as new headlines from US policymakers tempered the optimism. The evolving rhetoric on inflation and trade created a back-and-forth movement in the DXY, now grappling with nearby resistance. From a technical standpoint, the Moving Average Convergence Divergence (MACD) prints a mild buy signal, while the...
Gold price advances on Tuesday as the US Dollar (USD) remains on the back foot and amid falling US real yields, which typically correlate inversely to bullion prices. An unexpected rise in inflation expectations, spurred by US trade policies, boosted demand for the yellow metal, which is gaining 0.26%, trading at $3,018. The market mood is mixed, with US equity indices split between gainers and losers. US data revealed that Consumer Confidence fell to its lowest level in more than four years as households fear a future recession amid elevated inflation readings, according to the Conference...
The USD/JPY pair is falling significantly to near 149.70 during North American trading hours on Tuesday. The pair tumbles as the Japanese Yen (JPY) outperforms its peers on expectations that the Bank of Japan (BoJ) will raise interest rates again this year. BoJ Governor Kazuo Ueda signaled on Monday that monetary policy adjustments would become appropriate if the central bank achieves its 2% inflation target. Meanwhile, optimism about more wage hikes has also boosted BoJ hawkish bets. Last week, Japan's largest trade union group, Rengo, showed that firms agreed to raise pay growth by 5.4%...
The Pound Sterling (GBP) is advancing against the US Dollar (USD) on Tuesday due to an upbeat market mood as traders are relieved of United States (US) reciprocal tariffs, which are expected to be targeted on some of the US trading partners. This weakened the Greenback as seen by GBP/USD trading at 1.2950, up 0.22%. Sterling edges higher to 1.2950 amid calm markets, though looming inflation data and budget risks cap gainsThe economic docket is empty on both sides of the Atlantic, with traders eyeing the release of United Kingdom (UK) inflation figures on Wednesday and the UK Spring Budget....
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...