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...
Gold price (XAU/USD) struggles to capitalize on its modest intraday bounce from a one-week low and remains below the $2,900 mark through the Asian session on Tuesday. The uncertainty surrounding US President Donald Trump's trade policies and their impact on the global economy continues to weigh on investors' sentiment. This, in turn, assists the safe-haven bullion to attract some intraday dip-buyers near the $2,880 region. Moreover, the prevalent US Dollar (USD) selling bias, fueled by speculations that a tariff-driven slowdown in US growth might force the Federal Reserve (Fed) to cut...
The USD/CHF pair attracts some sellers to near 0.8800 during the early European session on Tuesday. Probable US economic slowdown and continued policy uncertainty surrounding the Trump administration's trade policy exert some selling pressure on the US Dollar (USD). Investors will closely monitor the US Consumer Price Index (CPI) inflation report, which is due on Wednesday. Fears about a tariff-driven slowdown in US growth have rattled US stocks and the USD. "The market is unsure whether fading U.S. exceptionalism will continue to hurt the dollar or whether the dollar benefits from its...
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, struggles to capitalize on the previous day's modest gains and attracts fresh sellers during the Asian session on Tuesday. The index currently trades around the 103.70 area, down over 0.20% for the day, and remains close to its lowest level since early November touched last Friday. Investors remain worried about US President Donald Trump's trade tariffs and their potential impact on the US economy. Apart from this, Friday's weaker US Nonfarm Payrolls (NFP) report pointed to signs of a cooling labor...
Gold rose near $2,900 per ounce on Tuesday, driven by a weaker U.S. dollar and safe-haven flows due to mounting concerns about the U.S. economic outlook amid escalating trade tensions. Concerns about the potential economic slowdown were exacerbated after President Donald Trump, in a Fox News interview on Sunday, said the U.S. economy faced a "period of transition", while refusing to rule out the possibility that his policies would cause a recession. This comes after the U.S. delayed the 25% tariffs on many goods from Canada and Mexico for a month, while Canada has kept its initial...
Brent crude oil futures fell to around $69.2 per barrel on Tuesday, marking a second consecutive day of losses amid growing fears that U.S. tariffs would slow economic growth and curb oil demand. Tariffs imposed and then later delayed by U.S. President Donald Trump on major oil suppliers, such as Canada and Mexico, along with China's retaliatory tariffs, have heightened concerns over a potential global economic slowdown. Additionally, signs of economic weakness in top oil importer China weighed on crude prices after latest data showed the country's deflationary pressures deepened despite...
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...