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...
Crude oil prices fell on Friday as they headed for their first monthly decline since November, driven by uncertainty over global economic growth and fuel demand amid Washington's tariff threats and signs of a slowing U.S. economy. The more active May Brent crude was down 59 cents, or 0.8%, at $72.98 a barrel by 0747 GMT. U.S. West Texas Intermediate crude was at $69.70 a barrel, down 65 cents, or 0.9%. Front-month Brent, which expires on Friday, was trading at $73.42, down 62 cents, or 0.8%. Both benchmarks were on track for their first monthly decline in three months. Factors including...
USD/CHF pair trades in positive territory near 0.8995 during the early European session on Friday. The Greenback jumps after US President Donald Trump's latest tariff comments. The US Personal Consumption Expenditures (PCE) Price Index for January will be the highlight on Friday. The US Dollar jumps after Trump said that 25% tariffs on Mexican and Canadian goods will go into effect on March 4 as scheduled because drugs are still pouring into the United States from those countries. Trump added that goods from China will be subject to an extra 10% duty. The path of interest rate cuts by the...
Silver remained around $31.20 per ounce on Friday and was on track to lose nearly 4% for the week, pressured by demand uncertainties, strong supply, and some profit-taking. A stronger dollar also weighed on silver prices after US President Donald Trump confirmed on Thursday that his proposed 25% tariffs on Mexico and Canada would take effect on March 4, alongside an additional 10% duty on Chinese imports. Hecla Mining Company, the largest silver producer in the US, reported a 13% increase in silver output for 2024, mining 16.2 million ounces (moz), marking the second-highest production level...
Gold price (XAU/USD) maintains its offered tone through the early European session on Friday and is currently trading around the $2,864-2,863 region, just above a two-week low. The US Dollar (USD) is prolonging this week's recovery move from over a two-month low amid bets that the Federal Reserve (Fed) would stick to its hawkish stance amid still-elevated inflation. This, in turn, is seen as a key factor exerting pressure on the commodity for the second successive day. The down leg could further be attributed to repositioning trade ahead of the US Personal Consumption Expenditure (PCE)...
GBP/USD pair extends its downside to near 1.2580 during the early European session on Friday. Tariff uncertainty from US President Donald Trump undermines the Pound Sterling (GBP) against the US Dollar (USD). The US Personal Consumption Expenditures (PCE) Price Index for January will be the highlight later on Friday. Trump met with UK Prime Minister Keir Starmer late Thursday, and President Trump was quick to announce that there might be trade tariffs imposed on the UK as well unless ambiguous terms of a trade deal with the US are agreed upon within an undetermined deadline. Investors will...
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...