The Japanese yen weakened slightly during the Asian session on Wednesday, as investors remained cautious while awaiting the Bank of Japan (BoJ) policy update. Market focus now turns to the two-day BoJ meeting next Friday, which is expected to provide clues regarding the interest rate path through 2026. Expectations for a BoJ interest rate hike this week are believed to be a supportive factor for the JPY. Investors anticipate a hawkish BoJ stance could boost the yen or at least prevent further depreciation, although more cautious market sentiment has limited the currency's...
As the U.S. government shutdown disrupts federal employee paychecks across the country, it also exacerbates the financial hardship of attorneys who represent the poorest members of society when they are accused of federal crimes. Some private attorneys who serve as court-appointed attorneys for indigent federal criminal defendants have stopped taking new cases, arguing that their clients are being denied the right to effective counsel, according to court records and defense attorneys. About 12,000 private attorneys across the U.S. serve on court-run panels that provide counsel to...
Many people in China cheered the meeting Thursday between President Xi Jinping and U.S. President Donald Trump, after months of escalating bilateral tensions. Every time the two leaders meet, it helps ease tensions and creates a "positive atmosphere," Alex Hongcai Xu, chair of Beijing Honglve Consulting, said in Mandarin, translated by CNBC. "This atmosphere is beneficial for negotiations." "Each side lowering tariffs to below 10% would benefit capital flows and cooperation," Xu said. He noted that China can likely buy more U.S. soybeans and U.S.-made Boeing airplanes. Trump said Thursday...
The European Central Bank (ECB) announced on Thursday (October 30th) that it kept its key interest rates unchanged after its October policy meeting, as expected. This decision leaves the main refinancing operations rate, the marginal lending facility rate, and the deposit facility rate at 2.15%, 2.4%, and 2%, respectively. The European Central Bank (ECB) is expected to maintain the main refinancing operations rate, the marginal lending facility rate, and the deposit facility rate at 2.15%, 2.4%, and 2%, respectively. The decision will be announced on Thursday at 13:15 GMT. The rate...
US President Donald Trump said Thursday that he had agreed with President Xi Jinping to cut tariffs on China in exchange for Beijing cracking down on illegal fentanyl trade, resuming purchases of U.S. soybeans, and maintaining the flow of rare earth metal exports. Trump's face-to-face talks with Xi in the South Korean city of Busan, his first since 2019, marked the end of his brief trip to Asia, during which he also praised trade breakthroughs with South Korea, Japan, and Southeast Asian nations. "It was an extraordinary meeting," Trump told reporters aboard Air Force One shortly after he...
China has confirmed that President Xi Jinping will meet with US President Donald Trump in South Korea on Thursday. The meeting is a highly anticipated one that traders and investors on both sides of the Pacific hope will ease months of trade tensions. "The two heads of state will have in-depth communication on strategic and long-term issues," a Foreign Ministry spokesperson said on Wednesday, without directly referring to the trade deal the leaders of the world's two largest economies are expected to reach in the port city of Busan. "We are willing to make joint efforts with the United...
Japan and the United States have agreed to cooperate on next-generation nuclear power reactors and rare earths, as Tokyo seeks to re-enter the nuclear technology export market and both seek to reduce China's dominance of key electronic components. US President Donald Trump and Japanese Prime Minister Sanae Takaichi signed a framework agreement on Tuesday to secure supplies of rare earths, used in everything from cars to fighter jets. They signed the documents, covering critical minerals, at Tokyo's neo-Baroque Akasaka Palace, beneath three ornate gold chandeliers, to thunderous applause...
Top U.S. and Chinese negotiators said they reached a consensus on key disputes, paving the way for Presidents Donald Trump and Xi Jinping to meet later this week and finalize a trade deal aimed at easing tensions. After two days of talks in Malaysia, officials announced that both sides had agreed on issues including export controls, fentanyl, and shipping levies. U.S. Treasury Secretary Scott Bessent told CBS News that Trump's threat of 100% tariffs on Chinese goods "is effectively off the table," adding that China would make "substantial" soybean purchases and delay its rare-earth export...
The U.S. Trade Representative on Friday announced the launch of an investigation into China's implementation of the trade agreement signed during President Donald Trump's first term. "The launch of this investigation underscores the Trump Administration's determination to ensure China fulfills its Phase One Agreement commitments, protect American farmers, ranchers, workers, and innovators, and build a more reciprocal trade relationship with China for the benefit of the American people," U.S. Trade Representative Jamieson Greer said in a statement. (alg) Source: Reuters
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....