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...
GBP/USD continues to gain ground for the second successive session, trading around 1.2430 during the Asian hours on Tuesday. The pair improved amid improved risk-on sentiment after US President Donald Trump announced late Monday that he would pause tariffs on Mexico and Canada. However, market volatility remains a concern, with investors closely monitoring developments in ongoing tariff negotiations. President Trump stated that he would suspend steep tariffs on Mexico and Canada after their leaders agreed to deploy 10,000 soldiers to the US border to combat drug trafficking. The tariffs...
The Japanese yen fell past 155 per dollar on Tuesday, struggling to regain momentum as the suspension of U.S. tariffs on Mexico and Canada reduced demand for the safe-haven currency. On Monday, U.S. President Donald Trump agreed to "immediately pause" planned tariffs on Mexico and Canada for a month after successful negotiations with their respective leaders. Markets are also becoming more optimistic that the U.S. and China could strike a deal to prevent the 10% tariffs on Chinese imports set to take effect later today. In Japan, investors are focusing on Wednesday's release of wage...
Gold traded above $2,810 per ounce on Tuesday, hovering near a record-high hit in the previous session, supported by safe-haven demand amid global trade uncertainties Markets continued to navigate the implications of U.S. tariffs, as President Donald Trump agreed to delay duties on Mexico and Canada for a month after the leaders of both countries took steps to address his concerns about border security and drug trafficking. Tariffs of 10% are still set to be imposed on China today, though Trump said he'd hold further talks to Beijing. The inflationary impact of tariffs could further...
Silver price (XAG/USD) continues its upward momentum, reaching near two-month highs and trading around $31.60 per troy ounce during Asian trading hours on Tuesday. Safe-haven metals, including Silver, are gaining ground as traders assess the potential impact of uncertain United States (US) trade policies on the global economy. On Monday, US President Donald Trump announced a temporary suspension of tariffs on Mexico and Canada after their leaders agreed to deploy 10,000 troops to the US border to combat drug trafficking. The tariffs initially imposed two days earlier—25% on Mexican and...
Gold held steady near a record high as President Donald Trump's tariff threats and subsequent delays raised uncertainty and supported higher demand for the precious metal. Bullion hit an all-time peak above $2,830 an ounce on Monday before paring gains to close up 0.6% after Trump said he would temporarily suspend 25% levies on Canada and Mexico for a month. The abrupt change sent the dollar retreating from its highest level in more than two years, making the precious metal cheaper for most buyers. There is still much uncertainty in the market about what will happen, tempering gold's...
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...