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 GBP/USD pair trades with mild gains near 1.2585 during the early Asian session on Monday. The major pair edges higher amid the upbeat UK Gross Domestic Product (GDP) report and weaker US Retail Sales data. The US market will be closed on Monday in observance of President's Day. US Retail Sales posted the biggest drop in nearly two years, dragging the Greenback lower. Retail Sales dropped 0.9% in January after an upwardly revised 0.7% increase in December, the Commerce Department's Census Bureau reported Friday. This figure came in weaker than the estimation of a 0.1% decline. On a...
Japanese Yen bulls retain control amid rising bets for additional BoJ rate hikesThe Japanese Yen attracts strong follow-through buying in reaction to the upbeat Q4 GDP.Optimism over the delay of Trump's reciprocal tariffs provides an additional boost to the JPY.The USD languishes near a two-month low and further contributes to the USD/JPY pair's slide. Japanese Yen bulls retain control amid rising bets for additional BoJ rate hikes The Japanese Yen attracts strong follow-through buying in reaction to the upbeat Q4 GDP.Optimism over the delay of Trump's reciprocal tariffs provides an...
The Australian Dollar (AUD) continues its upward momentum against the US Dollar (USD) for the third straight day on Monday, supported by US President Donald Trump's decision to delay the implementation of reciprocal tariffsThe AUD/USD pair also appreciates as the US Dollar (USD) weakens as disappointing US retail sales report has reignited speculation that the Federal Reserve (Fed) may cut interest rates later this year, despite ongoing inflation concerns. The upside of the AUD/USD pair could be restrained amid rising speculation of the Reserve Bank of Australia (RBA) rate cut on Tuesday....
The Australian Dollar (AUD) continues its upward momentum against the US Dollar (USD) for the third straight day on Monday, supported by US President Donald Trump's decision to delay the implementation of reciprocal tariffsThe AUD/USD pair also appreciates as the US Dollar (USD) weakens as disappointing US retail sales report has reignited speculation that the Federal Reserve (Fed) may cut interest rates later this year, despite ongoing inflation concerns. The upside of the AUD/USD pair could be restrained amid rising speculation of the Reserve Bank of Australia (RBA) rate cut on Tuesday....
The dollar index remained below 107 on Monday, hovering at its lowest level in over two months, as weak US economic data increased expectations of further Federal Reserve interest rate cuts. On Friday, data showed that US retail sales fell 0.9% in January, significantly worse than the anticipated 0.1% decline, with consumer spending likely impacted by severe weather and wildfires in California. While both CPI and PPI came in above forecasts, the PPI components feeding into the Fed's preferred inflation gauge, the PCE index, showed signs of cooling. The dollar also weakened as President...
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...