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 European Central Bank (ECB) is on track to leave its key interest rates unchanged after its July policy meeting, after having reduced rates at each of its last seven meetings. The decision will be announced on Thursday at 12:15 GMT. The interest rate decision will be followed by ECB President Christine Lagarde's press conference at 12:45 GMT. The ECB policy announcements will likely have a significant impact on the EUR/USD performance, as the Euro (EUR) is expected to experience intense volatility following the decision and during President Lagarde's press conference. With a...
The S&P Global UK Services PMI fell to 51.2 in July 2025 from 52.8 in June, compared to market forecasts of 53, according to preliminary estimates. Service providers reported that fragile domestic economic conditions and heightened geopolitical uncertainty weighed on sales pipelines. New orders in the services sector fell to their lowest level since April, with demand from abroad declining. The sector also saw a sharper decline in employment. On the pricing front, selling prices rose at a faster pace. Despite these challenges, private sector firms, on balance, remain optimistic,...
British business activity grew only weakly in July and employers cut jobs at the fastest pace in five months, according to a survey that is likely to add to speculation about a Bank of England interest rate cut next month. The S&P Global UK Composite Purchasing Managers' Index (PMI), published on Thursday, slowed to 51.0 points from 52.0 in June, not far above the 50.0 level that separates growth from contraction. A Reuters poll had forecast a smaller fall to 51.8. The survey's employment gauge dropped to 45.1, its lowest since February, with businesses in part blaming the decision by...
Equities in Indonesia rose 64 points, or 0.9%, to 7,555 around noon on Thursday, gaining for a second straight session and supported primarily by heavyweight stocks. The IDX Composite hit its highest level since October 31, 2024, breaking above the 7,500 mark, tracking an upbeat session on Wall Street overnight following US-EU trade agreements. The deals also raised hopes for detailed trade agreements between the US and China—Indonesia's top trading partner. Nearly all sectors traded in the green, with the financial sector leading the gains, soaring 3.3%. Among the top performers were...
The EU and the U.S. are reportedly nearing a trade agreement that would impose a 15% tariff on most imports, including potentially cars and pharmaceuticals, Bloomberg News reported, citing diplomats. The proposed rate mirrors a similar deal the U.S. reached with Japan. While EU Commission officials briefed member states on the negotiations, any final decision would rest with U.S. President Donald Trump. The 15% tariff would not be added to existing U.S. duties, which average just under 5%. Certain sectors, such as the aircraft, lumber, certain medicines, and agricultural goods, may be...
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...