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 rose as expectations for a US interest rate cut grew, while Deutsche Bank AG joined Goldman Sachs Group Inc. in raising its price forecasts for next year. Dovish comments from policymakers since last week have revived bets on a December rate cut. The latest US jobless claims data—which showed applications for unemployment benefits unexpectedly fell last week to their lowest level since mid-April—is not expected to deter the Federal Reserve from cutting interest rates next month. Enhancing the prospect of lower interest rates, a top economic adviser to Donald Trump has emerged as a...
According to the latest reports, the US dollar weakened against many major world currencies after disappointing US economic data reinforced speculation that the Federal Reserve (The Fed) will cut interest rates in the near future. This dollar weakening provided a boost to "riskier" currencies and emerging market currencies, such as the South African currency, which appreciated today. Furthermore, stock indices in Asia also rose as investors regained their comfort in taking risks after lingering doubts about the US economy. This situation has led to a positive response from safe-haven...
Gold (XAU/USD) edges higher on Wednesday as traders lean into a more dovish Federal Reserve (Fed) outlook, with XAU/USD trading around $4,171, near two-week highs after closing almost unchanged on Tuesday. Traders grew more confident in a softer monetary policy path after reports that White House Senior Adviser Kevin Hassett has emerged as the leading candidate to become the next Fed Chair. Hassett's rise to the top of the shortlist is being viewed as a dovish signal, especially since he has previously advocated for interest rate cuts. Furthermore, delayed US economic data released on...
Gold is breaking historical norms. Outperformance versus the US Dollar (USD) matches a record set last year, and the 2025 range in Gold is the largest since 1980. Stabilising investor flow and technical measures indicate a positioning correction has completed, Deutsche Bank's Research Analyst Michael Hsueh report. Central bank demand keeps Gold strong"Third quarter supply-demand data supports a continued central bank bid. The positive structural picture shows inelastic demand from central banks and ETF investment diverting supply from the jewellery market. Also, overall growth in demand...
Oil prices climbed on Wednesday after sliding to a one-month low in the previous session, though an expected supply glut and a potential Russia-Ukraine peace deal capped gains. Brent crude futures rose 28 cents, or 0.45%, to $62.76 a barrel at 0708 GMT, while U.S. West Texas Intermediate crude futures gained 26 cents, or 0.45%, to $58.27 a barrel. "The mild gains feel more like a technical breather than a trend," said Priyanka Sachdeva, a senior market analyst at Phillip Nova. "Any upticks we see – today or going forward - are largely driven by softer inventory signals and pockets of...
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...