The case for a U.S. interest rate cut remains unresolved as Federal Reserve officials head into their policy meeting later this month, with data showing fresh signs of higher inflation and President Donald Trump intensifying his demands for lower borrowing costs. Trump appeared near the point of trying to fire Fed Chair Jerome Powell this week, but backed off with a nod to the market disruption that would likely follow, and the U.S. central bank's policy rate outlook remains virtually unchanged despite the drama. Fed officials haven't mentioned raising rates, but headlines about an...
President Donald Trump said his team is discussing 10% tariffs on China and that the duties could go into effect as early as Feb. 1. "We're talking about a 10% tariff on China based on the fact that they're sending fentanyl to Mexico and Canada," the president said, speaking to reporters at the White House on Tuesday evening. "Maybe February 1st is the date we're looking at," he added. Fentanyl, a synthetic opioid, is an addictive drug that has caused tens of thousands of overdose deaths each year in the U.S. Reducing the supply of the illicit drug, whose precursors are largely produced...
European wind shares fell on Tuesday after U.S. President Donald Trump axed support for new offshore wind power on his first day in office, adding to pain in an industry that had turned to the United States to help revive its fortunes. The biggest decliner, Denmark's Orsted (CSE:ORSTED), which plunged 17%, came under further strain from impairments on its U.S. ventures. The global offshore wind industry, which initially boomed, has been struggling to deliver the carbon reductions pursued by many governments as escalating costs, supply chain issues and planning issues have slowed...
European Union finance ministers will approve French Prime Minister Francois Bayrou's deficit-cutting plan on Tuesday as it complies with the EU's recommendations to bring the French deficit below 3% of GDP by 2029, officials said. Senior officials of EU governments agreed last week to support Bayrou's plan, which will replace a more front-loaded scheme designed by his predecessor Michel Barnier that was rejected by the French Parliament in December. "We are determined to reach the 3% deficit target by 2029, to be below by 2029," French Finance Minister Eric Lombard told reporters as he...
European equity markets are set to open cautiously on Friday (17/1) as investors prepare for the inauguration of Donald Trump as US President on January 20, amid concerns over potential tariffs that could impact the European economy. Despite the uncertainty, regional benchmarks are on track for solid weekly gains, supported by signs of easing US inflation, which have strengthened expectations for further Federal Reserve interest rate cuts this year. Meanwhile, investors will be watching UK retail sales data and final Eurozone inflation figures. In pre-market trading, Euro Stoxx 50 and Stoxx...
US citizens filing new applications for unemployment insurance rose to 217K for the week ending January 10, as reported by the US Department of Labor (DoL) on Thursday. This print missed initial estimates and was higher than the previous week's tally of 203K (revised from 201K). Source: Fxstreet
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...