China has confirmed that President Xi Jinping will meet with US President Donald Trump in South Korea on Thursday. The meeting is a highly anticipated one that traders and investors on both sides of the Pacific hope will ease months of trade tensions. "The two heads of state will have in-depth communication on strategic and long-term issues," a Foreign Ministry spokesperson said on Wednesday, without directly referring to the trade deal the leaders of the world's two largest economies are expected to reach in the port city of Busan. "We are willing to make joint efforts with the United...
U.S. President Donald Trump said he will meet with his budget director Russell Vought on Thursday to determine which "Democrat Agencies" to cut, as he looks to inflict pain on his political opposition in the second day of a government shutdown. "I can't believe the Radical Left Democrats gave me this unprecedented opportunity," Trump said in a social media post. Trump has already frozen federal transit and green-energy funding for Democratic-leaning states and has threatened to fire more federal workers during the shutdown, which began on Wednesday due to a partisan standoff in...
The bottom line: The release of official US data is delayed because the federal government is currently in shutdown. While the budget hasn't been passed, the Antideficiency Act prohibits federal agencies from spending funds—including on statistical activities—so the publication of non-essential data must be temporarily halted. That's why reports like the non-farm payrolls (NFP), weekly jobless claims, CPI, retail sales, PCE, and even GDP releases could be delayed. The shutdown began Wednesday, October 1, 2025, after a funding impasse in Washington. The impact is immediate: the monthly...
The US Supreme Court said Wednesday that it will hear arguments in January on Donald Trump's attempt to fire Federal Reserve Governor Lisa Cook, who will remain in office for the time being, setting up a major legal battle over the first attempt by a president to fire a Federal Reserve official because she challenges the central bank's independence. The justices declined to immediately rule on a Justice Department request to stay a judge's order temporarily blocking the Republican president from firing Cook, an appointee of Democratic former President Joe Biden. The court postponed...
US President Donald Trump said he will meet with Chinese President Xi Jinping in the next four weeks, with soybeans a key topic of discussion. Trump made the announcement in a post on Truth Social on Wednesday, highlighting the recent decline in Chinese purchases being hit hard by US farmers. The meeting comes amidst still-strained trade relations. The Trump administration has called the 55% tariffs on Chinese imports a "good status quo" ahead of the November 10 deadline; without a new deal, tariffs could potentially rise significantly higher. Trump also previously hinted at plans to meet...
The Institute for Supply Management's (ISM) data showed the Manufacturing PMI edging higher to 49.1 in September, up from 48.7 in August and slightly above analysts' expectations of 49. Meanwhile, the Prices Paid Index, which tracks inflation, retreated to 61.9 from 63.7, the Employment Index improved to 45.3 from 43.8, and the New Orders Index deflated to 48.9 from 51.4. Source: FXstreet
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...
China has confirmed that President Xi Jinping will meet with US President Donald Trump in South Korea on Thursday. The meeting is a highly anticipated one that traders and investors on both sides of...