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...
Oil prices rose more than $1 a barrel on Monday (December 29th) as Russia accused Ukraine of attacking President Vladimir Putin's residence, while traders braced for potential supply disruptions in the Middle East due to escalating tensions in Yemen. Brent crude futures rose $1.30, or 2.1%, to $61.94 a barrel. U.S. West Texas Intermediate crude futures rose $1.34, or 2.4%, to $58.08. On Monday, Russia accused Ukraine of launching a drone attack on the Russian president's residence in northern Russia, prompting Moscow to now plan to review its position in peace talks. Ukraine rejected...
Gold prices plunged more than 4% to below $4,350 an ounce on Monday as investors secured profits after a string of record highs, with tentative progress in U.S.-Ukraine peace talks weighing on safe-haven demand despite ongoing uncertainty. President Donald Trump said negotiations with Ukrainian President Volodymyr Zelenskiy had made significant progress, although a final agreement is still weeks away. Zelenskiy noted that the framework is largely in place and U.S.-Ukraine security guarantees have been finalized, while core issues such as control over the Donbas region remain unresolved. At...
Oil prices reversed course after Friday's decline as US-led talks to end Russia's war in Ukraine failed to produce a breakthrough, and China pledged to support growth next year. West Texas Intermediate (WTI) prices reached over $58 per barrel, while Brent neared $62. The US has stepped up efforts to end the war, but sticking points remain, highlighting the difficulty of reaching a deal. President Donald Trump said he had made progress in talks on Sunday with Ukrainian President Volodymyr Zelenskiy at Mar-a-Lago. Zelenskiy said he asked Trump for security guarantees for 30 to 50 years. An...
Gold (XAU/USD) drops sharply on Monday, down 4.50% and trading near $4,330 at the time of writing, after hitting a fresh all-time high at the end of last week. The precious metal is facing strong profit-taking in a thin liquidity environment ahead of the year-end holidays, which is amplifying the corrective move following the sharp rally seen in recent months. A moderate rebound in the US Dollar (USD) is also adding pressure on Gold, as it makes the metal more expensive for non-US buyers. This recovery in the Greenback comes as some investors adjust their positions before the end of the...
Oil prices rose in European trading on Monday after sharp declines in the previous session, as U.S.-led talks to end the war in Ukraine failed to deliver a breakthrough, although gains were capped by persistent supply surplus worries heading into 2026. Brent Oil Futures expiring in February rose 1.8% to $61.34 per barrel, while West Texas Intermediate (WTI) crude futures also climbed 2% to $57.88 per barrel. Both contracts fell more than 2.5% on Friday, erasing most of the gains accumulated earlier in the week. Get premium crude market insight with InvestingPro - 55% off todayOil prices...
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...