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...
Emas bertahan dalam penurunan empat hari karena reli tajam dolar membebani logam tersebut, bahkan ketika data inflasi AS mendukung kasus penurunan suku bunga Federal Reserve bulan depan. Emas stabil setelah penurunan 1% pada sesi sebelumnya yang mendorongnya ke level terendah delapan minggu. Pengukur dolar telah naik ke level tertinggi dua tahun karena ekspektasi bahwa kemenangan Presiden terpilih Donald Trump akan meningkatkan pertumbuhan ekonomi dan laba perusahaan. Greenback yang lebih kuat membuat komoditas yang dihargakan dalam mata uang tersebut lebih mahal bagi sebagian besar...
US benchmark West Texas Intermediate (WTI) crude oil prices traded around $67.90 on Thursday (11/14). WTI prices recovered slightly amid a surprise drop in crude oil. However, a stronger US Dollar (USD) in general may cap gains. The American Petroleum Institute (API) weekly report showed crude oil stockpiles fell last week. Crude oil stocks in the United States for the week ended November 8 fell by 777,000 barrels, compared with a build of 3.132 million barrels in the previous week. Market consensus had expected stocks to increase by 1 million barrels. The black gold's gains may be capped...
The U.S. dollar advanced to one-year high against major currencies on Wednesday powered by so-called Trump trades and after U.S. inflation for October came in as expected, suggesting the Federal Reserve will continue lowering interest rates. The greenback hit its highest level since November 2023, buoyed by Donald Trump's victory in last week's U.S. presidential election, which sparked expectations of potentially inflationary tariffs and other measures by his incoming administration. Trump's Republican Party will also control both houses of Congress when he takes office in January, Edison...
Oil edged higher after swinging between gains and losses for much of the session as traders weighed mixed signals about the risks to flows from the Middle East against the prospect of an impending supply glut. West Texas Intermediate added 0.5% to settle above $68 a barrel, while Brent settled around $72. WTI had gained as much as 1.1% and slid as much as 1.7% during the session. Crude fell earlier in the day on unconfirmed reports that Iran may hold off on retaliating against Israel, said Dan Ghali, a commodity strategist at TD Securities. Prices rebounded later after...
Gold prices extended losses for the fourth straight session on Wednesday, weighed down by a stronger dollar and elevated bond yields on news that October U.S. consumer prices increased as expected. The Labor Department also reported slower progress toward low inflation since mid-year, which could result in fewer interest rate cuts from the Federal Reserve next year. Spot gold was down 0.7% at $2,580.39 per ounce by 01:49 p.m. ET (1849 GMT), after hitting a near two-month low earlier in the session. U.S. gold futures settled 0.8% lower at $2,586.50 per ounce. The dollar, advanced near a...
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...