Former U.S. President Donald Trump threatened to impose tariffs on members of the BRICS group of nations on Friday, warning the alliance would quickly collapse if it ever becomes a significant economic force. "When I heard about this group from BRICS, six countries, basically, I hit them very, very hard. And if they ever really form in a meaningful way, it will end very quickly," Trump said without specifying which nations he was referring to. The BRICS group currently includes Brazil, Russia, India, China, South Africa, and has recently expanded to include other nations. In addition to...
The US Bureau of Economic Analysis (BEA) reported on Thursday that the United States' Gross Domestic Product (GDP) expanded at an annual rate of 2.3% in the fourth quarter. This reading matched the initial estimate and came in line with the market expectation. "Real GDP was revised up by less than 0.1 percentage point from the advance estimate released last month, primarily reflecting upward revisions to government spending and exports that were partly offset by downward revisions to consumer spending and investment," the BEA explained in its press release. Source: FXStreet
Initial jobless claims in the U.S. rose 20,000 from the previous week to 242,000 in the period ended Feb. 22, beating market expectations of 222,000.Source: Newsmaker23
US President Donald Trump hit markets with new tariff headlines on Wednesday, reiterating his insistence on 25% tariffs on Canada and Mexico and adding the European Union to the list of countries that will punish US consumers for importing goods from them. While redoubling his plans to fund the US deficit spending with import taxes, President Trump also delayed his own tariffs for the fourth straight time, deciding that tariffs on Canadian and Mexican imports will not go into effect until April. Key highlights Not stopping tariffs. Tariffs will go into effect, not all, but many. Tariffs...
New-home sales in the US fell at the start of the year to a three-month low, reflecting a combination of affordability challenges as well as harsh winter weather. Purchases of new single-family homes decreased 10.5% last month to a 657,000 annualized rate, according to government data issued Wednesday. That trailed the median estimate of economists surveyed by Bloomberg, who expected an annual rate of 680,000. Around the US, new-home sales declined by nearly 15% in the South, the biggest homebuilding region, where several areas experienced record snowfall in...
U.S. Treasury yields regained some lost ground on Wednesday after the House of Representatives advanced President Donald Trump's tax-cut agenda, while the dollar and oil prices struggled on mounting worries over the U.S. growth outlook. U.S. copper prices surged more than 4% while those elsewhere fell overnight after Trump on Tuesday ordered a probe into potential new tariffs on copper imports. The Republican-controlled U.S. House of Representatives late on Tuesday narrowly passed Trump's $4.5 trillion tax-cut plan, sending the budget resolution to the Senate, where Republicans are...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
President Donald Trump said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that...