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...
Oil fell the most in more than two months on speculation that risks to Russian supplies could ease after President Donald Trump said he and Vladimir Putin had agreed to hold talks to end the Ukraine war. West Texas Intermediate crude futures were trading near $71 a barrel after dropping 2.7% in the previous session, the biggest drop since late November. Brent settled near $75 on Wednesday. Trump said their teams would begin negotiations soon, and that he might meet Putin in Saudi Arabia. U.S. sanctions on Moscow's oil sector have disrupted Russian crude flows, which helped support a surge...
Gold edges lower in the early Asian session, weighed by higher U.S. Treasury yields that undermine the appeal of the non-interest-bearing precious metal. The U.S. inflation report released overnight was hotter than expected, spurring a surge in the 10-year Treasury yield, says IG's Axel Rudolph in an email. Also, Fed rate-cut expectations are being pared back to July, the senior technical analyst adds. Spot gold is 0.1% lower at $2,901.61/oz. Source : Dow Jones Newswires
Gold price recovered some ground late during Wednesday's North American session. Federal Reserve (Fed) Chair Jerome Powell said that policy needs to remain restrictive as inflationary pressures mount and United States (US) President Donald Trump's tariff threats intensify. XAU/USD trades at $2,897, virtually unchanged. The non-yielding metal halted its downtrend after the US Bureau of Labor Statistics (BLS) revealed that inflation jumped above 3% in the United States, suggesting that the Fed's pause on its easing cycle could be longer thanLast week, the December fed funds rate futures...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $71.10 during the early Asian session on Thursday. The WTI price falls as US President Donald Trump called Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy to discuss ending the war in Ukraine. Trump discussed the war in Ukraine in phone calls with Putin and Zelenskiy. Trump claimed he and Putin had agreed to have their respective teams start negotiations immediately, and they will begin by calling Zelenskiy to inform him of the conversation. "Trump doing peace talks, I think that has...
Oil prices plunged more than 2% on Wednesday after U.S. President Donald Trump took the first major step toward diplomacy over the war in Ukraine that he has vowed to end, a war that has supported oil prices amid concerns about global supply. Brent crude futures fell $1.82, or 2.36%, to $75.18 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell $1.95, or 2.66%, to $71.37. U.S. crude futures fell more than $2 at their session lows. The declines followed three days of gains, with Brent up 3.6% and WTI up 3.7%. U.S. President Donald Trump discussed the war in Ukraine in a phone...
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...