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 EUR/USD pair recovers some lost ground to near 1.0425 during the early European trading hours on Thursday. The weakening of the US Dollar (USD) provides some support to the major pair. However, tariff concerns from US President Donald Trump and geopolitical tension might cap its upside. The ECB sets interest rates and manages monetary policy for the region. The ECB primary mandate is to maintain price stability, which means keeping inflation at around 2%. Its primary tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will usually result in a...
Oil prices edged lower on Thursday after an industry report showing a build in U.S. crude stockpiles weighed on sentiment, falling back from gains made in the previous session on worries over supply disruptions in Russia. Brent futures were down 17 cents at $75.87 a barrel by 0600 GMT. U.S. West Texas Intermediate crude dropped 30 cents to $71.95. The March contract expires on Thursday and the more active April contract eased 22 cents to $71.88. Oil prices, which held near a one-week high on Wednesday, were on track to snap a three-session winning streak on Thursday. U.S. crude stocks...
Gold price (XAU/USD) sticks to its positive bias through the Asian session on Thursday and currently trades around the $2,944 area, just below the all-time peak touched the previous day. Worries that US President Donald Trump's tariffs on imported goods could spark a global trade war weigh on investors sentiment and underpin demand for the safe-haven bullion. Moreover, flight to safety triggers a fresh leg down in the US Treasury bond yields and further benefits the non-yielding yellow metal.Meanwhile, declining US bond yields fail to assist the US Dollar (USD) to capitalize on this week's...
USD/CHF pair meets with some supply during the Asian session on Thursday and for now, seems to have snapped a three-day winning streak to the weekly top, around the 0.9055 area touched the previous day. Spot prices currently trade near the lower end of the daily range, around the 0.9025 region, and seem vulnerable to sliding further. US President Donald Trump said on Wednesday that he will announce tariffs on a number of products next month or even sooner. This fuels concerns about a global trade war and tempers investors' appetite for riskier assets, which is evident from a generally...
Silver price receives support from global uncertainties following fresh tariffs from US President Donald Trump.The latest FOMC Meeting Minutes emphasized needing more time to assess multiple factors before considering any rate adjustments.The grey metal found support from strong industrial demand driven by electrification and manufacturing.Silver (XAG/USD) rebounds from recent losses recorded in the previous session, trading around $32.80 per troy ounce during Asian hours on Thursday. The grey metal gains momentum due to its safe-haven appeal remains strong amid global uncertainties. US...
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...