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...
Gold (XAU/USD) prices were boosted by safe-haven inflows and surged above key technical resistance after US President Donald Trump confirmed that he intends to impose 25% tariffs on Canada and Mexico as early as February, as well as tariffs on Silver and Gold. China is not included in the direct levies, Bloomberg reported. The possibility of Trump imposing tariffs on Silver and Gold has caused market uncertainty, pushing premiums for futures contracts higher. President Trump's domestic agenda is the second major driver, which could extend Gold's bullish momentum further and boost demand for...
The dollar gained some ground on Tuesday after weakening the previous day as President Donald Trump hinted the U.S. could impose tariffs on Canada and Mexico as early as Feb. 1, challenging suggestions his trade policy might be more gradual. Trump told reporters his team was considering tariffs of around 25%, but gave no further details. He also floated the idea of universal tariffs, but said the U.S. was not ready for them. The dollar fell sharply on Monday after Trump's first day in office did not include specific plans for tariffs and officials suggested new taxes would be imposed in...
West Texas Intermediate (WTI) oil prices ended a three-day losing streak, holding steady near $76.20 during European trading hours on Tuesday (1/21). The crude oil market experienced significant volatility as traders assessed a series of executive orders issued by U.S. President Donald Trump shortly after his inauguration. One of the major moves included a plan to impose a 25% tariff on imports from Canada and Mexico starting Feb. 1, disappointing investors who had expected a delay in its implementation. Crude oil prices gained momentum as the proposed tariffs on Canadian crude imports were...
Gold prices rose in Asian trade on Tuesday (1/21) as the dollar weakened sharply overnight, while traders tried to gauge US President Donald Trump's policies after his inauguration. Spot gold prices rose 0.3% to $2,727.39 an ounce, while February gold futures rose 0.4% to $2,743.57 an ounce by 1:28 p.m. ET (06:28 GMT). Gold traders are bracing for increased volatility as Trump begins his second term, with his anticipated policy announcements expected to influence market dynamics. The precious metal, traditionally seen as a safe-haven asset, has held above a one-month peak. Current market...
Here's What You Need to Know on Tuesday, January 21: After falling sharply on the first trading day of the week, the US Dollar Index (USD) benefited from deteriorating risk sentiment and gathered bullish momentum on Tuesday (1/21). The European economic docket will feature the ZEW Survey data – Economic Sentiment for Germany and the Eurozone. Later in the day, December Consumer Price Index (CPI) data from Canada will be closely watched by investors. During the early trading hours of the American session on Monday, reports of US President Donald Trump refraining from announcing first-day...
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...