The economic activity in the United States' (US) manufacturing sector continued to contract in October, with the Institute for Supply Management's (ISM) Manufacturing Purchasing Managers' Index (PMI) dropping to 48.7 from 49.1 in September. This reading came in weaker than the market expectation of 49.5. Other details of the PMI report showed that the Employment Index edged higher to 46 from 45.3 in this period, while the New Orders Index improved to 49.4 from 48.9. Finally, the Prices Pair Index, the input inflation component of the survey, declined to 58 from 61.9. Source: FXstreet
Canada will impose retaliatory tariffs on U.S. imported goods worth C$29.8 billion ($20 billion) effective on Thursday in response to U.S. President Donald Trump's steel and aluminum tariffs, Canada's Finance Minister Dominic LeBlanc said. Trump's increased tariffs on steel and aluminum imports took effect on Wednesday as prior exemptions, duty-free quotas and product exclusions expired, and as his campaign to reorder global trade norms in favor of the U.S. gains momentum. Canada is the biggest foreign supplier of steel and aluminum to the United States. "We will not stand idly by while...
During a public meeting with Ireland's Prime Minister, or Taoiseach, Micheál Martin, United States (US) President Donald Trump took the opportunity to deliver another hodge-podge of comments addressing his usual variety of topics that White House watchers have become increasingly familiar with. Without sharing any specific details, President Trump declared that the EU has been "tough" on the US in terms of trade, noting that Europeans tend to not buy very many US-produced food products or vehicles. Given the enormous costs of shipping both durable and non-durable goods between two...
Inflation in the United States (US), as measured by the change in the Consumer Price Index (CPI), declined to 2.8% on a yearly basis in February from 3% in January, the US Bureau of Labor Statistics (BLS) reported on Wednesday. This reading came in below the market expectation of 2.9%. On a monthly basis, the CPI rose 0.2% following the 0.5% increase recorded in January. The core CPI, which excludes volatile food and energy prices, rose 3.1% on a yearly basis. This print followed the 3.3% increase in January and came in below analysts' estimate of 3.2%. On a monthly basis, the core CPI rose...
Canada will announce C$29.8 billion in retaliatory tariffs on the United States on Wednesday in response to US President Donald Trump's steel and aluminum tariffs, a Canadian official said. The official declined to be identified. Trump's increased tariffs on steel and aluminum imports take effect on Wednesday as previous exemptions, duty-free quotas and product exclusions expire, and as his campaign to reshape global trade norms in favor of the US gains momentum. Canada is the largest foreign supplier of steel and aluminum to the United States. The escalation in the US-Canada trade war...
Many of Japan's biggest companies are expected to offer substantial wage hikes for a third consecutive year when they conclude talks with unions on Wednesday, seeking to help workers cope with inflation and retain staff amid labour shortages. Last year's "shunto" or "spring labour offensive" negotiations resulted in the sharpest increase in 33 years, enabling the central bank to exit its decade-long super-loose monetary policy. Record corporate profits, helped by a weak yen, also support the case for lifting pay and this year economists expect increases to be similar to last year's average...
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
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...
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...