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 prices extended gains on Tuesday amid concerns over Russian and Iranian oil supply and sanctions threats, despite worries that escalating trade tariffs could dampen global economic growth. Brent crude futures were up 55 cents, or 0.72%, at $76.42 a barrel by 0717 GMT, while U.S. West Texas Intermediate crude rose 50 cents or 0.69% to $72.82. Both contracts posted gains of near 2% in the prior session after three weekly losses in a row. Source: Reuters
Gold prices soared to a record high on Tuesday on safe-haven demand after U.S. President Donald Trump imposed fresh tariffs on steel and aluminium imports, which could fuel inflation further and escalate the potential for a global trade war. Spot gold was up 0.3% at $2,916.37 per ounce as of 0701 GMT. It hit a lifetime high of $2,942.70 earlier in the session. Source: Reuters
The USD/CHF pair trades in positive territory for the fourth consecutive day around 0.9115 on Tuesday during the early European trading hours. The threats of reciprocal tariffs and the imposition of 25% tariffs on aluminium and steel by US President Donald Trump provide some support to the US Dollar (USD). Investors will closely monitor Federal Reserve (Fed) Chair Jerome Powell's semi-annual testimony on Tuesday. Analysts believe that tariff policies by the Trump administration could be inflationary and put further pressure on the Fed to keep interest rates elevated. Markets are pricing in...
Silver remained just below $32 per ounce on Tuesday, hovering near three-month highs as safe-haven demand for precious metals surged following the latest US tariffs. US President Donald Trump signed an executive order imposing 25% tariffs on steel and aluminum imports "without exceptions or exemptions," raising concerns about inflation and a potential escalation of the global trade war. Investors were also preparing for the release of the latest US inflation figures and comments from Federal Reserve Chair Jerome Powell later this week, which could influence the outlook for US monetary...
Silver (XAG/USD) attracts fresh sellers during the Asian session on Tuesday and drops back closer to the overnight swing low, around the $31.65-$31.60 area. The white metal, however, trims a part of its intraday losses and currently trades just below the $32.00 mark, down 0.45% for the day. Silver reverses the previous day's positive move, though it lacks follow-through.The setup supports prospects for an extension of over a one-month-old uptrend.Any meaningful slide could be seen as a buying opportunity and remain limited.It has been historically used as a store of value and a medium of...
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...