European Commission President Ursula von der Leyen said she will travel to Scotland this weekend to meet with US President Donald Trump, as both sides aim to reach a trade deal before the August 1 deadline when 30% tariffs on the bloc's exports are due to take effect. After months of negotiations and back-and-forth diplomacy between Brussels and Washington, D.C., the two sides have zeroed in on a deal last week that will see the EU face 15% tariffs on most of its trade. Limited exceptions are expected to apply to aviation, some medical devices and generic drugs, some alcoholic beverages,...
Japan's industrial production grew at the fastest clip in nearly a year, as manufacturers sought to meet strong demand before the US implements new tariffs on autos and auto parts. Factory output increased in February by 2.5% from January, the first advance in four months and marking the fastest gain since March last year, the Industry Ministry reported Monday. Economists had expected a 2.0% gain. Output rose 0.3% from a year ago, missing the consensus call of a 1.2% rise. The ministry also reported that retail sales increased 0.5% in February from...
The U.S. Federal Reserve's seemingly locked-in path to a soft landing, already roiled by the arrival of the Trump administration, may be growing even more complicated as evidence of consumer caution about spending starts to align with new inflation risks and another jump in inflation expectations. Consumer spending and inflation data for February accentuated the point, with spending near zero once adjusted for inflation and a key measure of inflation itself increasing. "No matter how you want to slice it, it's shaping up to be a very weak quarter for real spending, and it may end up being...
The US Personal Consumption Expenditures (PCE) price index increased by 0.3% month-over-month in February 2025, maintaining the same pace as the previous two months, and in line with expectations. Prices for goods rose 0.2%, below 0.5% in January and prices for services increased 0.4%, above 0.2% in the previous month. Meanwhile, the core PCE index, which excludes volatile food and energy prices, increased 0.4%, the most since January 2024, above 0.3% in the previous month and forecasts of 0.3%. Food prices steadied (vs 0.3% in January) while prices for energy goods and services were up...
Richmond Federal Reserve President Thomas Barkin said Thursday the current level of monetary policy is in a "good place," in a further sign the central bank is leaning toward keeping rates steady at a time of rising tariff-induced uncertainty. "We are waiting for the fog to clear," Barkin said in prepared remarks for an economics lecture at Washington and Lee University. "With the labor market still solid and inflation still above target, our moderately restrictive stance is a good place to be." The Richmond Fed president did say, however, that if "conditions start to shift, we are well...
Initial jobless claims in the United States decreased by 1,000 to 224,000 in the week ending March 22, marginally below market expectations of 225,000, to remain at historically low levels. In the meantime, recurring claims fell by 25,000 in the second week of the month. The results continued to indicate that the US hosts a robust labor market despite the prolonged period of restrictive monetary policy and the pessimistic batch of soft data released during the first quarter of the year. In the meantime, unemployment claims filed under programs for Federal government employees, which have...
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 locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday, criticizing the cost of renovating two historical...