US President Donald Trump announced tariff cuts on fentanyl-related products from China, reducing them from 20% to 10%. This decision is part of an agreement reached at a summit in South Korea last October. This move aims to ease trade tensions between the world's two largest economies. Trump also announced a freeze on reciprocal tariffs imposed on Chinese goods. This freeze will remain in effect, providing some relief to companies engaged in international trade with China. This policy is expected to help ease trade tensions that have persisted for the past few years. This tariff cut will...
Retail Sales in the United States (US) declined by 0.9% in May to $715.4 billion, the US Census Bureau announced on Tuesday. This reading followed the 1.5% decrease (revised from +0.1%) recorded in April and came in worse than the market expectation for a contraction of 0.7%. On a yearly basis, Retail Sales were up 3.3%, compared to 5% in April. "Total sales for the March 2025 through May 2025 period were up 4.5% from the same period a year ago," the press release read. "Retail trade sales were down 0.9% from April 2025, and up 3.0% from last year." Other data from the US showed that...
The Bank of Japan (BoJ) announced on Tuesday (6/17) that it would keep its short-term interest rate target unchanged at 0.4%-0.5% after concluding a two-day monetary policy review meeting. The decision had been widely expected. The Japanese central bank extended the pause in its interest rate hike cycle to a third straight meeting, after raising rates by 25 basis points (bps) in January.(alg) Source: FXstreet
The Bank of Japan (BoJ) is widely expected to leave short-term interest rates unchanged at 0.5% after its two-day June monetary policy review ends on Tuesday (6/17). With no quarterly economic projections due, all eyes will be on the BoJ's plan to taper its purchases of Japanese government bonds (JGBs) and hints on the timing of its next rate hike. The BoJ's policy announcement is likely to fuel volatility around the Japanese yen (JPY). What to expect from the BoJ's rate decision? The BoJ is set to extend the pause in its rate-hike cycle to a third straight month in June, keeping its...
US President Donald Trump called for the evacuation of Iran's capital, Tehran, on Monday, hours after urging the country's leaders to accept a deal to curb its nuclear program as Israel signaled that attacks would continue, according to Bloomberg "Iran should sign the 'deal' I asked them to sign," Trump wrote in a social media post from a Group of Seven leaders summit in Alberta, Canada. "What a disgrace, and a waste of human lives. Simply put, IRAN SHOULD NOT HAVE NUCLEAR WEAPONS. I've said it over and over again! Everyone should evacuate Tehran immediately!" (alg) Source: FXstreet
With just days to go until the Federal Reserve delivers its rate decision due Wednesday, expectations for the Fed to lean more dovish are gaining traction following a string of cooler inflation reports but Barclays is pushing back, warning it's much too early for a Fed pivot as tariff-induced inflation is just a matter of time. "Although May's inflation estimates were soft, we retain our view that it is just a matter of time until cost-push pressures from tariffs feed through to consumer prices," Barclays' analysts said, cautioning, "we do not expect the FOMC will take much signal" from the...
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...
US President Donald Trump announced tariff cuts on fentanyl-related products from China, reducing them from 20% to 10%. This decision is part of an agreement reached at a summit in South Korea last...