The White House update to its tariff schedule is a "welcome development" after challenges caused by a recent U.S. Customs ruling on gold bars, the London Bullion Market Association said on Wednesday. The executive order, issued on September 5 by President Donald Trump, updates the tariff schedule for certain goods, including key gold products. The White House referred to them as reciprocal tariffs. Under the update, gold bars imported from "aligned partner" countries under certain codes of the Harmonized Tariff Schedule of the United States - including 7108.11.00, 7108.12.50, 7108.13.10,...
Asia-Pacific markets started trading lower on Friday, with investors assessing November inflation figures from the Japanese capital, Tokyo, and industrial production figures from South Korea. Tokyo's headline inflation rate came in at 2.6% in November, up from 1.8% seen in October. Core inflation, which excludes fresh food costs, rose to 2.2% compared with a Reuters poll's expectation of 2.1%. Tokyo's inflation figures are widely seen as an indicator of national trends. Separately, South Korea's industrial production rose 2.3% year-on-year in October, reversing a 1.3% decline in...
The European Central Bank should keep its options open for a bigger rate cut next month and its policy rate could eventually fall to a level that once again stimulates growth, ECB policymaker Francois Villeroy de Galhau said on Thursday. Financial market pricing indicates investors expect the central bank to lower borrowing costs by at least another quarter of a point at its next meeting on Dec. 12. Some market participants even expect a larger cut, as betting activity has shown in recent days. "Seen from today, there is every reason to cut on December 12. Optionality should remain open on...
The personal consumption expenditure price index in the US increased 0.2% month-over-month in October 2024, the same as in September and in line with expectations. Service prices rose by 0.4%, while goods prices decreased 0.1%. The core PCE index, excluding food and energy, rose 0.3%, also the same as in the previous month, as expected. Food prices were unchanged and energy prices decreased 0.1%. Annually, the PCE inflation rate edged higher to 2.3% from 2021-lows of 2.1%. The core rate rose to 2.8% from 2.7%. These increases in annual rates are influenced by base effects from the previous...
The number of Americans filing claims for unemployment benefits fell to 213,000 in the week ending Nov. 24, 2024. The figure was lower than the 215,000 estimate and lower than the previous weekly reading of 215,000, the Labor Department said Thursday. Source: @Newsmaker23
The Conference Board (CB) released its Consumer Confidence figures, a key indicator of the level of consumer confidence in economic activity. The actual reading came in at 111.7, just shy of the forecasted 111.8, marking a significant increase from the previous figure of 2.1. The Consumer Confidence index is a leading indicator, with the potential to predict consumer spending, a major player in overall economic activity. Higher readings indicate higher consumer optimism, making this recent figure a positive sign for the US economy. While the actual figure of 111.7 narrowly missed the...
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...
Poland shot down a drone in its airspace on Wednesday with the support of military aircraft from its NATO allies. This is the first time a member of the Western military alliance is known to have...