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...
EUR/USD surrenders intraday gains after posting a fresh five-month high near 1.0955 in Tuesday's North American session. The major currency pair falls back as the US Dollar (USD) attracts bids ahead of the Federal Reserve's (Fed) interest rate decision, which will be announced on Wednesday. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, rebounds from the five-month low of 103.20.According to the CME FedWatch tool, the Fed is almost certain to keep borrowing rates steady in the range of 4.25%-4.50% on Wednesday. This would be the second straight...
The AUD/USD struggles to maintain gains, hovering near the 0.6350 zone as bullish momentum fades.China's economic stimulus provided initial support, but investors turn cautious ahead of key US data.Technical indicators suggest consolidation, with the pair facing resistance near recent highs.The AUD/USD rebound halts near 0.6350 as market caution prevails. The pair lost momentum on Tuesday after initially benefiting from renewed optimism surrounding China's economy. The Australian Dollar found support from Beijing's special action plan to boost household incomes and domestic consumption....
The US Dollar Index edges higher, recovering from earlier losses.Germany plans to inject 0.5 trillion euros into fiscal spending.Geopolitical uncertainty rises as Trump and Putin hold key discussions.Economic indicators show resilience despite market volatility.The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of six currencies, is stabilizing after avoiding a fresh five-month low. Traders react to Germany's significant fiscal expansion while monitoring geopolitical risks linked to ongoing talks between US President Donald Trump and Russian President...
Gold price skyrockets past the $3,000 figure and hit a record high of $3,038 on Tuesday amid uncertainty on United States (US) President Donald Trump's reciprocal tariffs to be enacted on April 2, while traders eye Federal Reserve's (Fed) monetary policy decision. XAU/USD is trading at $3,037, up by 1.20%. Risk appetite remains deteriorated, even though talks between Trump and Russian President Vladimir Putin relieved some of traders' stress with the latter agreeing to a 30-day halt on attacking Ukraine energy facilities, according to Reuters. Nevertheless, the Bullion rally continued with...
Oil prices eased about 1% on Tuesday as U.S. President Donald Trump and Russian President Vladimir Putin discussed moves to end the three-year-old war in Ukraine, which could result in a possible easing of sanctions on Russian fuel exports. Putin agreed to Trump's proposal that Russia and Ukraine cease attacking each other's energy infrastructure for 30 days. Brent (LCOc1) futures fell 51 cents, or 0.7%, to settle at $70.56 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 68 cents, or 1.0%, to settle at $66.90. Even if the U.S. and Russia work out a ceasefire in Ukraine, some...
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...