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...
Oil prices fell on Tuesday after Ukraine's President Volodymyr Zelenskiy agreed to a truce with Russia covering the Black Sea and energy infrastructure, though crude losses were limited by the prospect of global supply tightening due to threatened U.S. tariffs on countries buying Venezuelan production. Brent crude futures were down 15 cents, or 0.21%, at $72.85 a barrel by 1:14 pm ET (1714 GMT). U.S. West Texas Intermediate crude fell 25 cents, or 0.36%, to $68.86. Zelenskiy said the truce was effective immediately on Tuesday but added that he would seek more weapons from U.S. President...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is trading softer after markets digest headlines from the United States (US) President Donald Trump and his Vice President JD Vance. The index trades slightly above 104.00 at the time of writing os Tuesday, while markets assess two main stories. The first market driver comes from United States (US) President Donald Trump, who issued "secondary tariffs" of 25% on all goods from countries that still buy Oil from Venezuela. Trump eased off on the size and broadness of reciprocal...
Gold's price (XAU/USD) stabilises near $3,025 at the time of writing on Tuesday while markets are mulling tariff headlines from United States (US) President Donald Trump. The president issued an executive order on Monday to impose "secondary tariffs" of 25% on all imports from those countries buying Oil from Venezuela, which would mean a sharp rise in levies on goods from China and India. On Monday, Trump said reciprocal tariffs will be eased off for countries meeting US requests on reshoring their businesses and factories. He went further and said tariffs on cars, aluminum and...
Oil prices rose on Tuesday for a fifth day on expectations that global supply may tighten after the U.S. announced tariffs on countries that buy Venezuelan crude, although OPEC+ plans to go ahead with an output hike in May limited gains. Brent crude futures were up 46 cents, or 0.6%, at $73.46 a barrel by 1023 GMT. U.S. West Texas Intermediate crude climbed 41 cents, also 0.6%, to $69.52. Both benchmarks rose more than 1% on Monday after U.S. President Donald Trump announced a 25% tariff on countries importing oil and gas from Venezuela. Oil is Venezuela's main export and China, which is...
The Pound Sterling (GBP) trades with caution against its major peers on Tuesday. The British currency struggles as United Kingdom (UK) Chancellor of the Exchequer Rachel Reeves is prepared to unveil the Spring Statement on Wednesday. It would be interesting to watch how Reeves will promote economic prosperity, given his pledge of no more taxes and the maintenance of fiscal rules. After the Autumn Budget, Chancellor Reeves told at the Confederation of British Industry (CBI) conference in November that public services have to survive on their own means. Reeves clarified that the government...
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...