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), which tracks the performance of the US Dollar (USD) against six major currencies, trades almost flat around 106.70 at the time of writing on Tuesday while other asset classes are facing big moves. Investors are piling into safe-haven bonds, with US yields dropping lower. Meanwhile, equities are going down with negative performances in all major indices across Asia and Europe, also including US futures. The rout comes after the US President Donald Trump administration gave more details on its plan to toughen semiconductor restrictions over China. In addition, the...
Gold's price (XAU/USD) hit a new all-time high on Monday at $2,956, though traders were unable to enjoy it for long. The precious metal trades at around $2,940 at the time of writing on Tuesday, while US President Donald Trump's administration 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, which is pressuring yields for more downside...
Silver prices fell towards $32.2 per ounce, extending their decline from the over three-month high of $33.39 reached on February 14th, amid ongoing uncertainty over demand, driven by concerns about US tariff policy. Investors also awaited key economic data and events due later this week. Markets are particularly focused on Friday's release of the January PCE Price Index, the Federal Reserve's preferred inflation measure. Projections indicate a 0.3% month-over-month increase in PCE prices, with annual gains of 2.4% for the headline index and 2.6% for the core index. Additionally, speeches...
A gauge of the dollar stayed in a narrow range amid US President Donald Trump's decision to proceed with tariffs on Canada and Mexico as well as his administration's plans to add restrictions on China's chip sector. The Bloomberg Dollar Spot Index was little changed. Euro inched up 0.1% to 1.0476 as Germany's chancellor-in-waiting Friedrich Merz is said to have opened talks with the Social Democrats to quickly approve as much as €200 billion ($210 billion) in special defense spending Treasury yields eased across the curve, with the 10-year yield down two basis points to...
Gold price (XAU/USD) maintains its offered tone through the early European session on Tuesday and currently trades around the $2,935 region, down 0.50% for the day. The intraday pullback from the all-time peak lacks any obvious fundamental catalyst and could be attributed to some profit-taking amid slightly overstretched conditions on the daily chart. That said, a combination of factors might hold back traders from placing aggressive bearish bets around the precious metal. Investors remain worried about the potential economic fallout from US President Donald Trump's protectionist trade...
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...