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...
The Australian dollar (AUD) held steady against the US dollar (USD) on Thursday (23/1), as market concerns eased after news that China-specific tariffs proposed under US President Donald Trump's revised plan were much smaller than previously expected. The development helped calm investor concerns, especially given the strong trade ties between China and Australia, which make the Australian market sensitive to changes in China's economic landscape. President Trump announced plans to impose 10% tariffs on Chinese imports from February 1, citing concerns over fentanyl shipments from China to...
Brent crude fell below $79 a barrel on Thursday, falling for a fifth straight session after an industry report revealed a fresh build in U.S. crude inventories. API data showed a 1 million-barrel increase in crude inventories last week, the first increase in five weeks of declines. Traders also continued to assess the potential impact on energy markets from President Trump's proposed tariffs on China, the European Union, Canada and Mexico, along with warnings of penalties for Russia if President Putin fails to end the Ukraine war. In other news, Saudi Arabia's crude exports hit an...
US benchmark West Texas Intermediate (WTI) crude oil prices traded around $75.00 on Thursday (1/23). WTI prices continued to fall to a one-week low as traders assessed how US President Donald Trump's proposed tariffs could impact energy demand and the global economy. On Monday, Trump said he was considering imposing 25% tariffs on Canada and Mexico while discussing imposing 10% tariffs on Chinese imports on February 1. The tariffs could potentially slow economic growth and drag the black gold lower. "The potential sanctions under the new Trump administration remain unclear, with potential...
Gold hits new 2025 highs amid rising investor anxiety from Trump's trade rhetoric.Despite a rise in the US Dollar Index, Gold's ascent signals strong safe-haven demand.Geopolitical tensions in the Middle East escalate, alongside potential US economic measures against Russia. Gold price advances over 0.39% late in the North American session, with the precious metal climbing decisively above the psychological $2,650 figure with buyers setting their sights at the record high of $2,790. At the time of writing, the XAU/SD trades at $2,755 after bouncing off daily lows of $2,741. The...
AUD/USD rises to a new monthly high just below 0.6300, helped by signs that United States (US) tariffs on China may not be as harsh as initially feared. Meanwhile, the US Dollar (USD) recovers slightly from multi-day lows, reflecting ongoing uncertainty regarding future US trade policies. Market participants look forward to the upcoming flash S&P Global PMI numbers for January to gauge broader economic sentimentAussie extends gains while markets await fresh driversThe amount of China-specific tariffs proposed under Donald Trump's revised plan appears significantly smaller than originally...
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...