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 price (XAG/USD) trades in positive territory for the third consecutive day near $32.50 during the Asian session on Friday. The growing concerns about US President Donald Trump's tariff policies continue to underpin the white metal. Traders brace for the US Retail Sales for January, which are due later on Friday. US President Donald Trump promised to target countries that charge tax on US imports by matching them with a reciprocal tariff. Late Thursday, Trump ordered his administration to start study duties by early April, prompting fears of a global trade war, boosting the safe-haven...
Gold price (XAU/USD) resumes rally during the Asian trading hours on Friday. The growing concerns about US President Donald Trump's tariff plans provide some support to the precious metal. Additionally, a decline in US bond yields across the curve contributes to the yellow metal's upside. However, the expectation that the US Federal Reserve (Fed) will stick to its hawkish stance and hold the interest rate higher for longer could drag the non-yielding yellow metal lower. Traders will keep an eye on the release of US Retail Sales for January, which is due later on FridayGold price edges...
USD/JPY remains steady after registering losses in the previous session, trading around 152.60 during the Asian hours on Friday. The pair faced challenges following US President Donald Trump's decision to postpone the implementation of reciprocal tariffs. Additionally, the US Dollar (USD) weakens amid falling US yields across the curve, despite ongoing concerns about a global trade war. Investors now await the release of US Retail Sales data later in the day. The US Dollar Index (DXY), which measures the US Dollar's value against six major currencies, extends its losses for the fourth...
The Australian Dollar (AUD) strengthens for the second consecutive day on Friday, driven by US President Donald Trump's decision to postpone the implementation of reciprocal tariffs. Additionally, the AUD/USD pair appreciates as the US Dollar (USD) weakens amid falling US yields across the curve, despite ongoing concerns about a global trade war. Investors now await the release of US Retail Sales data later in the day. The AUD may face headwinds as expectations of a Reserve Bank of Australia (RBA) rate cut remain intact following fresh inflation outlook data. Consumer inflation expectations...
Oil steadied as the market digested the fallout from President Donald Trump's order of potential reciprocal tariffs on US trading partners.Brent was near $75 a barrel after a modest decline on Thursday, while West Texas Intermediate was above $71 a barrel. The US president signed a measure to propose new levies on a country-by-country basis. It could take weeks or months to complete, but raised the prospect of more trade tensions.Tariffs on crude from Canada and Mexico are set to start next month, alongside a levy on steel, but the US oil industry is confident it can win exemptions from the...
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...