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...
West Texas Intermediate (WTI) crude Oil price appreciates after two days of losses, trading around $73.00 during Asian market hours on Friday. The rise in crude Oil prices comes amid concerns over potential supply disruptions as markets assess the risk of a 25% tariff imposed by US President Donald Trump on Mexico and Canada—the two largest crude exporters to the United States (US). These tariffs, which could take effect on February 1, are intended to pressure both countries to halt fentanyl shipments across US borders. However, it remains uncertain whether crude Oil will be included in...
Gold price (XAU/USD) extends its sideways consolidative price move heading into the European session and remains close to the all-time peak touched earlier this Friday. Investors remain concerned about the potential economic fallout from US President Donald Trump's tariff plans. This, along with geopolitical tensions, might continue to underpin the safe-haven bullion. Moreover, expectations that Trump's protectionist policies would boost inflation further benefit the precious metal's hedge against rising price pressures. Meanwhile, the Federal Reserve's (Fed) first pause since the start...
Gold price enters a bullish consolidation phase after hitting a fresh record high during the Asian session on Friday and currently trades just below the $2,800 mark. Concerns over the potential economic fallout from US President Donald Trump's tariff plans, along with geopolitical tensions, continue to boost demand for the safe-haven bullion. Adding to this, expectations that Trump's protectionist policies would boost inflation further benefit the precious metal's hedge against rising price pressures. That said, the Federal Reserve's (Fed) first pause since the start of its easing cycle in...
Silver price (XAG/USD) halts its three-day winning streak, trading around $31.30 per troy ounce during Asian hours on Friday. A daily chart analysis suggests a persistent bullish bias for the precious metal, as its price continues to rise within an ascending channel pattern. The XAG/USD pair trades above both the nine-day and 14-day Exponential Moving Averages (EMAs), suggesting that short-term momentum is strong. Additionally, the 14-day Relative Strength Index (RSI) is positioned above the 50 level, reinforcing the active bullish sentiment. Source: FXStreet
The Japanese Yen (JPY) attracts buyers for the third straight day on Friday and remains close to over a one-month high touched against its American counterpart earlier this week. Data released earlier today showed that consumer prices in Tokyo – Japan's capital – rose in January. Moreover, Japanese Industrial Production registered unexpected growth in December and Retail Sales surged past consensus estimates. This keeps alive expectations for further interest rate hikes by the Bank of Japan (BoJ), which, in turn, continues to underpin the JPY. Source: FXStreet
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...