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 prices plunged over 1.80% on Tuesday (25/2), which saw the grey metal hit an intraday peak of $32.48, before dipping below the $32.00 mark on risk aversion and traders booking profits amid uncertainty over US trade policy. XAG/USD was trading at $31.73 unchanged as Wednesday's Asian session began. (Newsmaker23) Source: FXstreet
Oil prices plunged about 2% to their lowest in two months on Tuesday as weak economic news from the U.S. and Germany fueled concerns about slowing energy demand, along with signs from some countries that oil production would increase. Brent crude futures fell $1.76, or 2.4%, to settle at $73.02 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.77, or 2.5%, to settle at $68.93. That was the lowest close for Brent since Dec. 23 and WTI since Dec. 10. U.S. data showed consumer confidence deteriorated at its sharpest pace in 3-1/2 years in February, with 12-month inflation...
Gold prices fell to their lowest in more than a week on Tuesday, as investors booked profits after hitting a record high in the previous session on lingering concerns about instability surrounding U.S. President Donald Trump's tariff plans. Spot gold fell 1.4% to $2,909.59 an ounce by 1:46 a.m. (1846 GMT), after hitting its lowest since Feb. 17 earlier in the session. It hit a high of $2,956.15 on Monday. U.S. gold futures settled 1.5% lower at $2,918.80. "You're seeing profit-taking and people looking to get out and rebuild positions at lower prices," said Bob Haberkorn, senior market...
Gold's price (XAU/USD) has hit a new all-time high on Monday at $2,956, just hours before the Trump administration issued more details on upcoming tariffs. The precious metal trades at around $2,940 at the time of writing on Tuesday, after US President Donald Trump's administration communicated it plans to impose more limitations on China's technological developments. A tougher stance on semiconductor restrictions and pressuring other allies to corner China is part of that strategy. The news creates a negative tone in markets this Tuesday. Traders are fleeing into bonds as a safe haven,...
WTI crude oil futures fell to $70.2 per barrel on Tuesday, remaining near yearly lows due to uncertainty over future demand and a lack of new economic signals from China. Looking ahead, oil prices may remain subdued until mid-March, when China is expected to announce new stimulus policies and a 2025 growth target. Meanwhile, US President Trump confirmed that tariffs on Canadian and Mexican imports will begin on March 4, which could weigh on global oil demand. However, fresh US sanctions on Iran—targeting oil brokers, shipping firms, and Iran's state oil company—raise concerns about tighter...
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...