The BRICS group of countries is increasingly being considered as an alternative for global diplomacy and cooperation amidst increasing tariff and protectionist policies from the United States. A number of developing countries view BRICS as a platform to strengthen trade, investment, and financial cooperation without over-reliance on a Western-dominated system. US tariff pressure is pushing many countries to seek a more balanced economic and political path. Through BRICS, member countries are seeking to expand the use of local currencies, strengthen supply chains, and enhance solidarity...
President Donald Trump said he was reluctant to continue ratcheting up tariffs on China because it could stall trade between the two countries, and insisted Beijing had repeatedly reached out in a bid to broker a deal. Trump, speaking to reporters in the Oval Office on Thursday, said officials he believed represented the Chinese leader Xi Jinping had sought to start talks. But he repeatedly sidestepped direct questions about whether he and Xi had been in direct contact. "I have a very good relationship with President Xi, and I think it's going to continue. And I would say they have reached...
Initial jobless claims in the United States fell by 9,000 from the previous week to 215,000 on the second week of April, contrasting with market expectations that they would rise by 1,000 to 225,000, to mark the lowest number of new claims in over two months. The result continued to reflect a historically tight labor market in the US to extend the momentum from the latest jobs report. In the meantime, continuing claims rose by 41,000 from to 1,885,000 in the prior week, extending their volatile momentum. Source: Trading Economics
The Trump administration confirmed Wednesday morning that the base tariff on products imported into the U.S. from China remains at 145%, after a previously released fact sheet caused confusion in Asian hours. The White House, in a fact sheet on critical minerals released Tuesday afternoon Washington time (early Wednesday in Asia) included language that said China "now faces tariffs of up to 245% on imports into the United States as a result of its retaliatory actions." That language was picked up by some Asian media outlets and Asia-based market analysts who, in the overnight Washington...
Retail Sales in the United States (US) rose by 1.4% in March to $734.9 billion, the US Census Bureau announced on Wednesday. This reading followed the 0.2% increase recorded in February and came in slightly better than the market expectation for an increase 1.3%. On a yearly basis, Retail Sales were up 4.6%. "Total sales for the January 2025 through March 2025 period were up 4.1% from the same period," the press release read. "Retail trade sales were up 1.4% from February 2025, and up 4.6% from last year." Source: FXStreet
British inflation slowed to its weakest in three months in March and other measures watched by the Bank of England cooled too, but higher bills and employer costs will pressure prices soon against the backdrop of U.S. President Donald Trump's trade war. Inflation slowed to an annual rate of 2.6% in March from 2.8% in February, below expectations of 2.7% in a BoE forecast and a Reuters poll of economists. A price drop for computer games and falling fuel prices helped bring down the headline rate although the prices of clothes rose strongly after a surprise fall in February, the Office for...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
Pasangan mata uang EUR/USD mengawali pekan ini dengan nada sedikit melemah di sesi Asia, diperdagangkan di sekitar 1,1730, turun kurang dari 0,10% dalam sehari. Meski terkoreksi, euro masih berada...
US President Donald Trump said Washington is willing to provide security assistance to Ukraine as part of a deal to end the war with Russia. He emphasized that security support is a crucial factor...