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...
EUR/USD surged around the key resistance of 1.0900 during the European session on Monday. The major currency pair surged as the US dollar (USD) slumped amid rising uncertainty ahead of the US presidential election on Tuesday and the Federal Reserve's (Fed) monetary policy meeting on Thursday. The US dollar started the week on a bearish note, with the US Dollar Index (DXY) falling below 103.70 as market participants expected a tight race between former President Donald Trump and current Vice President Kamala Harris. The sharp sell-off in the US dollar came after the release of the Des...
The dollar slipped in Asia on Monday as investors braced for a potential pivot this week for the global economy as the United States chooses a new leader, and as it likely cuts interest rates again with major implications for bond yields. The euro rose 0.4% to $1.0884 but faces resistance around $1.0905, while the dollar fell 0.7% on the yen to 151.81 yen . The dollar index eased 0.1% to 103.79. Treasury futures rallied 10 ticks, recovering some of the losses suffered on Friday. Democratic candidate Kamala Harris and Republican Donald Trump remain virtually tied in opinion polls and the...
EUR/USD retraces its recent losses from the previous session, trading around 1.0880 during Asian hours on Monday. The pair's upside can be attributed to a softer US Dollar (USD) after the release of weaker-than-expected US October Nonfarm Payrolls (NFP) data. However, uncertainty surrounding the US presidential election could drive safe-haven flows, potentially limiting the upside of the EUR/USD pair. On Friday, data from the US Bureau of Labor Statistics (BLS) indicated that October's NFP increased by only 12,000, following a revised September gain of 223,000 (down from 254,000), which...
Harga minyak naik lebih dari $1 ditengah penundaan kenaikan produksi OPEC+ Oil prices rose by more than $1 in early trading on Monday after OPEC+ said on Sunday it would delay a planned December output hike by one month. Brent futures rose by $1.14 per barrel, or 1.56%, to $74.24 a barrel. U.S. West Texas Intermediate (WTI) crude also rose by $1.14 a barrel, or 1.64%, to $70.63. OPEC+, which includes the Organization of the Petroleum Exporting Countries plus Russia and other allies, was due to increase output by 180,000 barrels per day (bpd) in December. Source : Reuters
Gold was steady below a record high, with traders monitoring a tight US presidential election that could have a dramatic impact on economic policy. Bullion traded near $2,740 an ounce after the latest raft of polling data showed no clear frontrunner in the race between Kamala Harris and Donald Trump ahead of the vote on Tuesday. The uncertainty has spurred a rush to haven assets, and many investors anticipate the precious metal could rise further — especially if the result is contested. Gold has surged by around a third this year on a combination of easing monetary...
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...