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 on Monday (September 15th) as investors assessed the impact of Ukrainian drone attacks on Russian refineries and U.S. President Donald Trump's call for NATO countries to halt purchases of Russian oil. Brent crude rose 41 cents, or 0.61%, to $67.40 a barrel at 11:43 a.m. EDT (15:43 GMT), while U.S. West Texas Intermediate crude was at $63.25 a barrel, up 56 cents, or 0.89%. The attack on Russian oil infrastructure and increased pressure from Trump on buyers of Russian crude boosted oil prices on Monday, said Phil Flynn, senior analyst at Price Futures Group. "Behind the...
Gold prices (XAU/USD) started the week cautiously, continuing their sideways trend late last week after briefly touching a record high near $3,675 on Tuesday. This movement reflects a lack of strong buying confidence, as market participants held back ahead of a busy week of central bank decisions.As of this writing, gold was trading around $3,657 (up 0.37% daily) after bouncing from $3,626. The $3,650 area remains short-term resistance, so prices are likely to consolidate within a narrow range.The main focus is the Fed's decision on Wednesday. The market is pricing in a 25 bps cut, with a...
The US dollar weakened in trading on Monday (September 15th), as investors remained cautious ahead of a crucial week filled with central bank decisions, particularly from the Federal Reserve (The Fed). The Dollar Index (DXY), which measures the greenback's performance against six major currencies, fell slightly after previously strengthening. Market participants are now focusing on this week's Federal Open Market Committee (FOMC) meeting. Expectations are strong that the Fed will cut interest rates by 25 basis points, a move deemed necessary to stimulate economic growth amid signs of a...
Oil prices were little changed on Monday as investors assessed the impact of Ukrainian drone attacks on Russian refineries, while U.S. President Donald Trump said he was prepared to impose sanctions on Russia if NATO nations stop buying Russian oil. Brent crude futures rose 7 cents, or 0.1%, to $67.06 a barrel by 1121 GMT while U.S. West Texas Intermediate crude was at $62.80 a barrel, up 11 cents, or 0.18%. Oil remains range-bound between $65-70, underpinned by disruption risks from Ukrainian attacks on Russian energy facilities and renewed calls from Trump for tougher secondary sanctions...
The Pound Sterling (GBP) advances against the US Dollar (USD) at the start of the week during the European trading session. The GBP/USD pair jumps to near 1.3600as the US Dollar faces selling pressure, with investors awaiting monetary policy announcements by the Federal Reserve (Fed) and the Bank of England (BoE) on Wednesday and Thursday, respectively. During the press time, the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, trades marginally down near 97.50. According to the CME FedWatch tool, traders see a 94,2% chance that the central bank will...
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...