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 jumped 2% on Thursday (December 30th), driven by a weaker dollar following the Fed's interest rate cut and as investors remained uncertain about the outcome of a trade deal between the presidents of the world's two largest economies. Spot gold prices rose 1.9% to $4,004.75 per ounce at 09:18 GMT. US gold futures for December delivery fell 0.4% to $4,018.30 per ounce. "Gold prices appear to be strengthening as investors digest the outcome of the Trump-Xi meeting and the Fed's decision to cut interest rates for the second time this year," said Lukman Otunuga, senior research...
Oil prices fell on Thursday (October 30th) as investors assessed the potential for a truce in the trade dispute between the United States and China. President Donald Trump lowered tariffs on China after a meeting with President Xi Jinping in South Korea. Brent crude futures fell 53 cents, or 0.82%, to $64.39 per barrel at 09:08 GMT. US West Texas Intermediate crude fell 46 cents, or 0.76%, to $60.02. Trump agreed to reduce tariffs on China from 57% to 47% in a one-year deal in exchange for Beijing continuing purchases of US soybeans, maintaining the flow of rare earth exports, and cracking...
The dollar weakened slightly after hitting a two-week high on Wednesday, fueled by cautious signals from the Federal Reserve regarding the possibility of further interest rate cuts. The US central bank cut interest rates by 25 basis points, as expected, but Fed Chairman Jerome Powell said that further cuts in December were uncertain. This uncertainty arose from the absence of official labor market data during the US government shutdown, which prevented some policymakers from committing to further cuts. According to Thu Lan Nguyen of Commerzbank, the next determining factor will be the...
Silver prices on October 30, 2025, showed stable movement despite market uncertainty. After several days of pressure, silver managed to recover slightly, moving around $23.50 per ounce this morning. The strengthening US dollar, driven by hawkish sentiment from the Federal Reserve and declining appetite for safe havens, temporarily held silver back, but solid industrial demand supported it. The silver market was also overshadowed by concerns regarding Bank of Japan policy, which might impact global risk sentiment. Despite some pressure from a stronger bond market, demand for silver as an...
Oil edged lower as traders counted down to a summit between US President Donald Trump and Chinese counterpart Xi Jinping and, beyond that, an OPEC+ meeting on supply. West Texas Intermediate fell toward $60 a barrel, rolling back Wednesday's modest gain, while Brent closed below $65. The leaders of the two largest economies are expected to finalize a trade deal at their meeting in South Korea. Trump may also use the exchange to lean on Beijing to curb purchases of Moscow's oil after his administration imposed sanctions on two Russian producers. The OPEC+ alliance, meanwhile,...
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...