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 faces a two-way risk in 2025, with the Fed's monetary policy decisions, Trump's economic and foreign policies, and geopolitical developments becoming the main drivers. Bearish scenarioA de-escalation of geopolitical tensions in the Middle East and/or a resolution to the Russia-Ukraine crisis could trigger a sharp downward correction in Gold prices, given how much the precious metal benefited from these conflicts throughout 2024. Trump's "America First" approach suggests that his administration will be focused on domestic policies and possibly not prioritize international affairs. In...
Silver price (XAG/USD) falls to near $29.30 in Tuesday's European session, though it remains inside Monday's trading range amid thin trading volume due to holidays on Wednesday and Thursday on account of Christmas Eve and Thanksgiving Day. The white metal is broadly under pressure as the Federal Reserve (Fed) has guided a moderate hawkish stance on the monetary policy outlook. The Fed has shifted from "dovish" to "cautionary" on interest rates as progress in the disinflation trend has stalled in the last three months, and labor market conditions are not as bad as they appeared in the...
Crude Oil prices are going nowhere as volatility dies down on Tuesday with traders looking ahead to Christmas Eve rather than the release of the American Petroleum Institute (API). Even headlines of further stimulus in China are not driving Oil prices higher: Chinese policymakers want to boost the economy with a 3 trillion Yuan bond injection, a move that should ramp up spending and result in a boost in demand for Oil from one of the world's top consumers. At the time of writing, Crude Oil (WTI) trades at $69.61 and Brent Crude at $72.80.(cay) Newsmaker23 Source: Fxstreet
Gold traded in a narrow range as traders weighed the prospect of a slower pace of interest rate cuts by the U.S. Federal Reserve next year. Bullion prices were near $2,615 an ounce after closing down 0.4% on Monday. Investors digested the latest data on U.S. consumer confidence, which unexpectedly fell amid uncertainty over the policies of the incoming Trump administration. Gold was steady during thin holiday trading but a stronger dollar continued to weigh on the market, Pranav Mer, an analyst at JM Financial Services Ltd. in Mumbai, said in a note on Tuesday. Earlier this month, the Fed...
Oil rose in thin holiday trade, supported by a rally in equities and the rise of President-elect Donald Trump in international politics. Brent traded near $73 a barrel after falling slightly on Monday. European and Asian stocks rose after a Wall Street rally led by large-cap technology stocks. However, the dollar held near a two-year high, dampening the appeal of commodities. Trump has threatened to seize the Panama Canal, as well as impose tighter sanctions on Iran and tariffs on China that could affect the global oil balance. "The festive season seems a little different from Donald...
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...