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 US Dollar Index (DXY) faced selling pressure near 107.25, ending a three-day winning streak during the early European session on Monday (03/03). Rising expectations that the US Federal Reserve (Fed) will cut interest rates by a quarter percentage point twice by the end of this year dragged the DXY lower. Technically, the bullish outlook for the DXY remains in place as the index is holding above the key 100-day Exponential Moving Average (EMA) on the daily chart. However, the 14-day Exponential Moving Average (EMA) is hovering around the midline, suggesting that further consolidation...
Gold prices edged higher in Asian trading on Monday as the dollar weakened, while uncertainty surrounding U.S. trade tariffs and Russia-Ukraine peace talks supported bullion's safe-haven appeal. Spot Gold rose 0.3% to $2,865.69 per ounce, while Gold Futures expiring in April gained 0.9% to $2,873.59 an ounce by 00:35 ET (05:35 GMT). Dollar dips amid tariff uncertainty; pushes gold up U.S. President Donald Trump announced 10% additional tariffs on China and reaffirmed his tariff timings for 25% levies on Mexico and Canada last week. However, on Sunday, U.S. Commerce Secretary Howard...
Oil rose on Monday as upbeat manufacturing data from China, the world's biggest crude importer, led to renewed optimism for fuel demand, although uncertainty about a Ukraine peace deal and global economic growth from potential U.S. tariffs loomed. Brent crude climbed 36 cents, or 0.5%, to $73.17 a barrel by 0439 GMT while U.S. West Texas Intermediate crude was at $70.10 a barrel, up 34 cents, or 0.5%. Prices rose after official data on Saturday that showed that China's manufacturing activity expanded at the fastest pace in three months in February as new orders and higher purchase volumes...
Silver price (XAG/USD) rebounds after two consecutive days of losses, trading around $31.30 per troy ounce during Asian market hours on Monday. The precious metal benefits from safe-haven demand amid concerns over US President Donald Trump's tariff policies. Over the weekend, Trump announced an additional 10% tariff on Chinese imports, effective Tuesday, following a similar 10% tariff imposed last month. Additionally, on Thursday, he stated via Truth Social that 25% tariffs on Canadian and Mexican goods will take effect on March 4. In response, China is considering countermeasures,...
The EUR/USD pair attracts fresh buyers at the start of a new week and for now, seems to have snapped a three-day losing streak to over a two-week low, around the 1.0360 area touched on Friday. The momentum lifts spot prices further beyond the 1.0400 mark during the Asian session and is sponsored by a weaker US Dollar (USD). From a technical perspective, the EUR/USD pair showed some resilience below the 50% Fibonacci retracement level of the rally witnessed in February. The subsequent move above the 38.2% Fibo. level suggests that the pullback from the 1.0525-1.0530 area, or a one-month...
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...