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...
Silver rose by over 1% to $73 per ounce on Tuesday, following an 8% slump in the previous session, which marked the steepest daily drop in over five years, as traders booked profits. Markets continued to monitor geopolitical developments, with uncertainty persisting as tensions in the Russia-Ukraine conflict lingered after reports of a suspected Ukrainian drone incident near President Putin's residence, while negotiations between the two sides continue amid unresolved issues. Separately, the United States signaled possible further strikes on Iran if nuclear and missile programs advance,...
The USD/CHF pair fell to around 0.7880 in Asian trading on Tuesday (December 30), reversing the previous two days' gains. This movement came as investors awaited the Swiss Federal Open Market Committee (KOF) key indicator, which could provide insight into future economic activity trends. The Swiss franc is likely to be supported by demand for safe-haven assets amid global uncertainty. Tensions have escalated due to the Ukraine-Russia conflict, Saudi airstrikes in Yemen, and Iran's warning of a "full-scale war" with the US, Europe, and Israel. Trump's statement about the possibility of...
Global gold prices fluctuated in today's trading, as investors weighed various economic factors and global market sentiment. Although gold is often seen as a safe haven amidst turmoil, its price is currently under pressure from profit-taking and a decision by futures exchanges to raise margin requirements for precious metals trading. This has led some market participants to sell back after the previous strong rally. One fundamental factor influencing gold's movement is expectations regarding interest rate policy and the monetary policies of major central banks like the Fed. When there is a...
Global oil prices remain high despite concerns about oversupply. Traders are now more focused on geopolitical tensions, from Venezuela to Russia and Iran, which have the potential to disrupt global energy supplies. This situation has kept the market cautious, even though the annual trend for oil prices remains weak. Venezuela has reportedly begun shutting down several oil wells in the region with the world's largest reserves due to the United States blockade. Meanwhile, US President Donald Trump claimed his country had attacked a facility within the country. Tensions also escalated after...
Silver prices stabilized after experiencing their biggest drop in more than five years in the previous session, amid profit-taking following a strong year-end rally. Silver held above $71 an ounce on Tuesday, despite falling 9% in the previous session. Gold was little changed, trading around $4,340, after falling 4.4%. The decline was driven by technical indicators suggesting excessively rapid price increases, coupled with thin market liquidity, which exacerbated price fluctuations. Despite Monday's decline, both gold and silver remain on track for their best annual performance since 1979....
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...