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...
The global gold price remains stable at around $4,500 per ounce after three consecutive days of sharp gains. Traders are now more focused on US economic data due this week, rather than the geopolitical tensions heating up in several parts of the world. This price adjustment indicates investors remain cautious, awaiting the latest information that could impact the market. News of the arrest of the Venezuelan leader, as well as comments from the White House about the possible use of military force in various regions, has heightened global tensions. Even tensions between China and Japan over...
Government officials in Caracas and Washington are discussing exporting Venezuelan crude to refiners in the United States, five government, industry and shipping sources told Reuters on Tuesday, a deal that could divert supplies away from China while helping state company PDVSA avoid deeper output cuts. Venezuela has millions of barrels of oil loaded on tankers and in storage tanks that it has been unable to ship due to a blockade on exports imposed by U.S. President Donald Trump since mid-December. The blockade was part of rising U.S. pressure on the government of Venezuelan President...
Gold price (XAU/USD) rallies on Tuesday for the fourth straight day, shy of reclaiming the $4,500 figure even though US Treasury yields rise along with the Greenback, which is also gaining 0.20%. At the time of writing, XAU/USD trades at $4,487, up nearly 1%. Bullion extends gains as Venezuela tensions fuel haven demand despite firmer yields and US Dollar strength. Precious metals traders continued to push Gold and Silver toward record high levels amid geopolitical uncertainty. The capture of the Venezuelan President Nicolas Maduro and US President Donald Trump's verbal threats of...
The dollar index edged up to 98.5 on Tuesday, its strongest level in more than two weeks, as investors focused on a slate of key economic data for the US. Recent indicators have pointed to some softening in economic momentum. The ISM Manufacturing PMI came in below forecasts, signalling the sharpest contraction in the factory sector since 2024, while the S&P Global Services PMI was revised lower, indicating further weakness in the services sector. Meanwhile, Richmond Fed President Barkin said that monetary policy will require "finely tuned judgments" going forward, while Governor Miran...
Silver rose to around $79 per ounce on Tuesday, marking a third consecutive session of gains and moving toward record levels. The US attack on Venezuela and the capture of President Nicolas Maduro added a new layer of geopolitical risk, supporting demand for safe-haven metals. Reports also indicated that President Donald Trump threatened a second military action if Venezuela's interim president, Delcy Rodriguez, did not comply with US demands. Investors further digested weaker-than-expected US manufacturing data and dovish comments from a key Federal Reserve official regarding labor market...
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...