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...
Oil prices held near two-week highs on Monday after rising 6% last week, as geopolitical tensions escalated between Western powers and major oil producers Russia and Iran, raising the risk of supply disruptions. Brent crude futures rose 13 cents, or 0.2%, to $75.30 a barrel by 0115 GMT, while U.S. West Texas Intermediate crude was at $71.38 a barrel, up 14 cents, or 0.2%. Both contracts last week posted their biggest weekly gains since late September to reach their highest settlements since Nov. 7 after Russia fired a hypersonic missile over Ukraine in a warning to the United States and...
The Nikkei 225 jumped 1.5% to above 38,800 while the broader Topix index gained 0.9% to 2,720 on Monday, with Japanese shares rising for a second straight session after suffering losses over the past two weeks. Local shares also mirrored Wall Street's gains, as strong U.S. economic data and optimism over the election outcome continued to support equities. Looking ahead, investors are focused on Tokyo's inflation figures, due later this week, as they are seen as a leading indicator of national price trends. Technology stocks led the rally, with significant gains from Lasertec (+3.2%), Tokyo...
Oil steadied after its biggest weekly gain in nearly two months as geopolitical risks in Ukraine and the Middle East kept investors on edge. Brent crude traded above $75 a barrel after surging nearly 6% last week, with West Texas Intermediate nearing $71. Russia's war in Ukraine has escalated with both sides using long-range missiles. Meanwhile, Iran said it would increase its nuclear fuel production capacity after being criticized by the U.N.'s International Atomic Energy Agency, as OPEC producers brace for potential sanctions under a second Trump administration. "The IAEA criticism and...
Gold is steady after surging the most in 20 months last week as the escalation of the Russia-Ukraine war boosted demand for safe haven assets. Bullion was trading near $2,720 an ounce after surging 6% last week as the conflict entered a dangerous new phase. President Vladimir Putin said his forces may use new missiles again after targeting Ukraine in retaliation for Kyiv's use of American and British-made weapons on Russian territory. Former Ukrainian military chief Gen. Valery Zaluzhny said European countries are not ready for a prolonged military confrontation with Russia. The reason,...
The AUD/USD pair attracted some buyers near 0.6540 during the early Asian session on Monday (11/25). The US Dollar Index (DXY) eased slightly after hitting a fresh two-year high despite strong S&P US Purchasing Managers' Index (PMI) data. On Monday, the US Chicago Fed National Activity Index for October and the Dallas Fed Manufacturing Business Index for November will be released. Upbeat US November PMIs failed to boost the greenback. Data released by S&P Global showed on Friday that the S&P US Global Composite PMI rose to 55.3 in the flash estimate for November from 54.1 in...
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...