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...
The minutes of the US Federal Reserve's (Fed) monetary policy meeting on January 28-29 will be released on Wednesday (2/19) at 19:00 GMT. Policymakers decided to keep the policy interest rate in the range of 4.25%-4.5% for the first meeting of 2025. However, the central bank removed its previous statement that inflation had "made progress" towards its 2% target, and instead stated that the pace of price increases "remains high." The Federal Open Market Committee (FOMC) voted unanimously to keep the policy rate unchanged. The statement showed that officials expressed confidence that progress...
United Kingdom's Office for National Statistics will publish the January CPI data on Wednesday.The annual UK headline and core CPI inflation are expected to increase in January.The Pound Sterling braces for volatility on the UK CPI report data release amid a prudent BoE.The high-impact Consumer Price Index (CPI) data from the United Kingdom (UK) for January will be published by the Office for National Statistics (ONS) on Wednesday at 07:00 GMT. The Pound Sterling (GBP) could witness a big reaction to the UK CPI inflation report, which will likely have a strong bearing on the Bank of...
Federal Reserve Vice Chairman for Supervision Michael Barr delivered remarks before the Council on Foreign Relations today, discussing the state of the economy, inflation, and policy uncertainty. Barr sounded a positive note about the economy, citing strong growth over the past year and low and stable unemployment. He also noted the substantial progress that has been made on inflation, while acknowledging that there is still much work to be done. He described the path to 2% inflation as "bumpy but steady." Barr also discussed the spike in inflation that occurred in January, attributing it...
The UK Unemployment Rate held steady at 4.4% in three months to December.The Claimant Count Change for Britain came in at 22K in January.GBP/USD trims losses to regain 1.2600 after mixed UK employment dataThe United Kingdom's (UK) ILO Unemployment Rate remained at 4.4% in the three months to December, the data published by the Office for National Statistics (ONS) showed on Tuesday. The market forecast was for a 4.5% print in the reported period.Additional details of the report showed that the number of people claiming jobless benefits climbed by 22K in January, compared with a revised drop...
Federal Reserve Governor Christopher Waller said on Tuesday that he expects trade tariffs under President Donald Trump as having only a limited impact on inflation, and that the central bank should not stall in adjusting policy. Speaking at an event in Australia, Waller said his "baseline" view was that "any imposition of tariffs will only modestly increase prices and in a non-persistent manner." He recommended that the Fed look through the effects of Trump's trade policies when adjusting interest rates. "I concede that the effects of tariffs could be larger than I anticipate, depending...
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...