US President Donald Trump seized the opportunity to lash out at Federal Reserve Chairman Jerome Powell on Tuesday during a meeting with Philippine President Bongbong Marcos. After spending weeks normalizing the White House by publicly criticizing the Fed and attempting to undermine the US central bank's political autonomy, President Trump is working hard to justify his efforts to circumvent US laws that prevent him from having a say in who runs the Fed and what they do. Donald Trump nominated Jerome Powell to take over the Fed's top job in 2018 and has been very vocal about his displeasure...
Hong Kong stocks fell by 51 points or 0.2% to 24,324 in early trading on Friday, breaking a three-day winning streak amid losses mainly from financials. Markets pulled back from their highest in over three years following an overnight slump on Wall Street, due to uncertainty over US trade policy. This was particularly driven by President Donald Trump's decision to delay levies on Mexican and Canadian goods covered by the North American trade agreement. Also, caution grew ahead of key data from China, including January-February trade data later today, alongside CPI and PPI readings over the...
The dollar index stabilized above 104 on Friday as investors looked ahead to the highly anticipated monthly jobs report for further insights into the economy's health. The dollar also found support after President Donald Trump temporarily exempted certain Canadian and Mexican goods from the 25% tariffs imposed earlier in the week, raising hopes for additional concessions. However, the index remains on track to lose more than 3% for the week, as the escalating trade war stoked concerns about the potential negative impact on the US economy, particularly given the heavy reliance of many US...
WTI crude futures traded around $66 per barrel on Friday, heading for its worst week since October and the longest weekly losing streak since December 2023. Prices came under pressure from the potential fallout of global trade shifts. While President Donald Trump eased some tariffs on Mexico and Canada until April 2, Canada's retaliatory tariffs remain, and China's measures take effect next week. Adding to bearish sentiment, OPEC+ plans to revive output in April, coinciding with prospects of a restart of the Kirkuk-Ceyhan pipeline and increased production at Kazakhstan's Tengiz field,...
The Australian Dollar (AUD) remains subdued against the US Dollar (USD) for the second consecutive day on Friday. The AUD/USD pair faces modest headwinds as the USD steadies ahead of the upcoming Nonfarm Payrolls (NFP) report in the North American session. The Reserve Bank of Australia (RBA) maintains its outlook for economic growth to slow toward 2% by 2025. While its stance has previously bolstered AUD strength, investors remain cautious about potential policy shifts in response to inflation and labor market dynamics. The AUD could find support from easing concerns after US President...
Gold is steady in the early Asian trade. Prices are largely unchanged given the rising macroeconomic uncertainty, the ANZ Research team writes in a note. The move by the U.S. to delay tariffs on Mexico saw yields on U.S. Treasurys push toward their lowest levels this year, as markets price in the possibility of several U.S. Fed rate cuts this year, given the tariffs' potential impact on growth, they add. The precious metal is consolidating its upward trend, and there might be room for prices to rise further given its value as a safe-haven asset, Antonio Di Giacomo of trading platform...
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...
Indonesia's sovereign wealth fund, Danantara, plans to sign a USD 8 billion engineering, procurement, and construction (EPC) contract with US engineering firm KBR Inc. to build 17 modular...