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 prices continued to recover from a one-month low touched last Thursday and gained positive traction for the third straight day at the start of a new week. The commodity maintained its positive bias through the first half of the European session and was supported by some safe-haven inflows – supported by geopolitical risks and trade war fears. That said, the positive risk tone acted as a headwind for the precious metal. Meanwhile, the Federal Reserve's (Fed) hawkish signals kept the US Treasury bond yields buoyant and helped the US Dollar (USD) in attracting some dip-buying on Monday....
Oil prices rose on Monday as weaker-than-expected U.S. inflation data revived hopes for further policy easing, although the prospect of a supply surplus next year weighed on the market. Brent crude was up 36 cents, or 0.5%, at $73.30 a barrel by 0421 GMT. U.S. West Texas Intermediate crude was up 39 cents, or 0.6%, at $69.85 a barrel. "Risk assets, including U.S. equities and crude, have started the week on a firmer footing," said IG market analyst Tony Sycamore, adding that cooler inflation data helped ease concerns after the Federal Reserve's aggressive interest rate cuts. "I think the...
The USD/CHF pair strengthened to around 0.8935, snapping a two-day losing streak during the early European session on Monday (12/23). A hawkish interest rate cut by the US Federal Reserve (Fed) provided some support to the greenback. Traders await the December US Consumer Confidence report and the Chicago Fed National Activity Index, due on Monday. The Fed cut interest rates by a quarter-point last week and has forecast only two rate cuts in 2025, down from its initial estimate of four. Hawkish signals from the US central bank, which has recently appeared concerned about persistent...
Gold (XAU/USD) prices struggled to capitalize on last week's modest recovery from one-month lows and fluctuated in a range around $2,625 during the Asian session on Monday (December 23). The US Dollar (USD) remained subdued below a two-year high touched on Friday and turned out to be a key factor acting as a tailwind for the commodity. Additionally, geopolitical risks stemming from the prolonged Russia-Ukraine war and tensions in the Middle East further supported the safe-haven precious metal. Meanwhile, the Federal Reserve's (Fed) hawkish signal that it will slow the pace of interest rate...
Oil prices edged higher on Monday, along with other risk assets, after U.S. data showed a slowdown in inflation, reviving hopes of further policy easing next year that would support global economic growth and oil demand. Brent crude futures were up 26 cents, or 0.4%, at $73.20 a barrel by 0141 GMT. U.S. West Texas Intermediate crude was up 31 cents, or 0.5%, at $69.77 a barrel. "Risk assets, including U.S. equity futures and crude oil, have started the week on a firmer footing," said IG market analyst Tony Sycamore, adding that cooler inflation data helped ease concerns after the Federal...
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...