Federal Reserve (Fed) Governor Stephen Miran stated that tariffs aren't driving higher inflation in goods and argued that the measure of underlying inflation is near 2% on Monday at Columbia University's Institute of Global Politics, in New York.
The US Dollar (USD) is tracking a little lower on the session in broad, Dollar Index (DXY) terms but losses remain relatively contained and the index is holding a little above last week’s low. The CNY continues to strengthen, meanwhile, giving much of the Asian FX complex a lift.
The price of Silver is currently skyrocketing. Yesterday, the price reached a new record high of $64.3 per ounce, Commerzbank's commodity analyst Carsten Fritsch notes.