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...
Silver (XAG/USD) prices struggled to extend gains above the key resistance of $32.40 during the North American session on Wednesday (05/03). The white metal held firm as the global trade war led by the United States (US) President Donald Trump has escalated due to retaliatory tariffs on China, Canada, and Mexico. The escalating trade war tensions have raised uncertainty over the global economic outlook. Such a scenario increases the appeal of precious metals like Silver. Meanwhile, a sharp sell-off in the US Dollar (USD) is also a favorable scenario for Silver prices. The US Dollar Index...
Gold (XAU/USD) prices are trying to maintain their gains from the past few days on Wednesday (05/03) after earlier suffering losses in the Asian trading session and are trading around $2,920 at the time of writing on Wednesday. With tariffs still in place and more to come for Europe and other countries, Gold will continue to be a good place to go when it comes to safe havens. However, some surprising comments from US Commerce Secretary Howard Lutnick overnight hinted that tariffs could be eased or lifted entirely for Mexico and Canada. This has weighed on Gold prices for now. Daily Market...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, extended its decline for the third straight day this week and was trading near 105.00 at the time of writing on Wednesday (05/03), its lowest level since early November. The down move came as traders further reduced their exposure to the Dollar across the board now that some analysts are calling for an end to US exceptionalism amid concerns that US President Donald Trump's tariffs could hurt economic growth. The move comes ahead of the European Central Bank's (ECB)...
Oil prices fell for a third day on Wednesday, as investors worried about OPEC+'s plan to continue raising output in April, and U.S. President Donald Trump's tariffs on Canada, China and Mexico escalated trade tensions. Brent crude futures fell $1.02, or 1.44%, to settle at $70.02 a barrel by 1149 GMT. U.S. West Texas Intermediate (WTI) crude futures fell $1.33, or 1.95%, to settle at $66.93 a barrel. Crude prices closed near their lowest levels in months the previous day, weighed down by expectations that U.S. tariffs and retaliatory tariffs by affected countries would slow economic growth...
EUR/USD strengthened above 1.0700 during the European session on Wednesday (05/03), the highest level seen this year. The major currency pair strengthened as the Euro (EUR) strengthened across the board after Germany's next chancellor candidate, Frederich Merz, and the Social Democratic Party (SDP) agreed to create a €500 billion (EUR) infrastructure fund and expand borrowing limits on Tuesday to boost defense spending and boost economic growth in the Eurozone. Such reforms could boost inflation in the Eurozone economy. Meanwhile, investors await the European Central Bank's (ECB) monetary...
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...