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) remains under pressure against the US Dollar (USD) for the fourth consecutive session on Tuesday. Despite a stronger Westpac Consumer Confidence reading—rising 4% to 95.9 in March from 92.2 in February, marking its highest level in three years—the AUD/USD pair continues to struggle. The uptick in sentiment was driven by the Reserve Bank of Australia's (RBA) interest rate cut in February and easing cost-of-living pressures. Australia's 10-year government bond yield declined to around 4.39% as escalating global trade tensions dampened investor risk appetite....
Oil fell a second day, tracking a plunge across wider equity markets and other risk assets. West Texas Intermediate dropped below $66 a barrel after sliding 1.5% on Monday, with Brent crude closing near $69. Investors retreated from every type of risk on Monday with economic fear racing across markets as US President Donald Trump presses on with tariff measures and geopolitical shakeups. Oil has fallen almost a fifth from a high in mid-January as Trump's chaotic rollout of tariff hikes and push to slash federal spending darken the economic outlook in the biggest producer and consumer of...
Gold (XAU) price retreats as the week begins, down 0.70% and falls below the $2,900 figure as investors' fears of a recession in the United States (US) grow amid controversial trade policies implemented by the US President Donald Trump. At the time of writing, the XAU/USD pair trades at $2,890 after hitting a daily high of $2,918. Wall Street continued to edge lower, depicting a dismal market sentiment due to the ongoing economic slowdown. On Friday, Trump appeared in an interview and said, "There is a period of transition, because what we're doing is very big. …We're bringing wealth back...
AUD/USD fell by 0.40% on Monday as risk-off sentiment weighed on the pair. Concerns over a slowdown in the United States (US) economy initially supported the Australian Dollar (AUD), but weak Chinese inflation data and trade tensions pressured the pair lower. President Donald Trump's comments about a "transition period" raised uncertainty over the US outlook, while a sharper-than-expected drop in China's Consumer Price Index (CPI) signaled weakening demand, reinforcing downside risks for AUD/USD.Australian Dollar pressured as global risks intensifyUS economic concerns deepened after...
Gold (XAU) price retreats as the week begins, down 0.70% and falls below the $2,900 figure as investors' fears of a recession in the United States (US) grow amid controversial trade policies implemented by the US President Donald Trump. At the time of writing, the XAU/USD pair trades at $2,890 after hitting a daily high of $2,918. Wall Street continued to edge lower, depicting a dismal market sentiment due to the ongoing economic slowdown. On Friday, Trump appeared in an interview and said, "There is a period of transition, because what we're doing is very big. …We're bringing wealth back...
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...