Treasury Secretary Scott Bessent expects a substantial drop in inflation during the first six months of 2026, according to statements made Tuesday on Fox Business. Bessent indicated that an announcement regarding President Trump's Federal Reserve chair selection would likely come in early January, with "one or two more Fed interviews" possibly taking place this week. When discussing potential candidates, Bessent noted that both Kevin Warsh and Kevin Hassett are "very very qualified" for the position. He rejected suggestions that Hassett would lack agency at the Federal Reserve, while...
Asia-Pacific markets were set to fall Tuesday, tracking Wall Street declines overnight after U.S. President Donald Trump made it clear that tariffs on Mexico and Canada would go into effect as planned. Japan's benchmark Nikkei 225 was set to open lower, with the futures contract in Chicago at 37,345 while its counterpart in Osaka last traded at 37,300, against the index's last close of 37,785.47. Japan's employment rate for January came in at 2.5%, slightly higher than Reuters' estimates of 2.4%. Futures for Hong Kong's Hang Seng index stood at 22,910 pointing to a weaker open compared to...
President Donald Trump confirmed Monday that tariffs on Mexico, and Canada are set to go ahead on Tuesday as both nations have now run out of room to negotiate a deal. Starting on Tuesday, all imported products from Canada and Mexico will be subject to 25% import duties. Trump has pointed to the lack of effort from Mexico and Canada to shore up their borders with the U.S. to stem the flow of the "vast amounts" of fentanyl that have poured into the United States. "No room left for Mexico or for Canada," the president told reporters at the White House. "The tariffs, you know, they're all...
St. Louis Federal Reserve President Alberto Musalem said on Monday he expects the U.S. economy to continue to expand this year, but recent weaker-than-expected consumption and housing data and reports from business contacts have raised concerns about possible risks to growth. "The outlook for continued solid economic growth looks good, the labor market is healthy, and financial conditions are supportive. But recent data have been weaker than expected, especially consumer spending and housing market data, posing some downside risk to growth," Musalem said in comments prepared for delivery...
Data from the Institute for Supply Management (ISM) show the Manufacturing PMI receding to 50.3 in February, down from 50.9 in the previous month and falling behind analysts' forecasts of 50.5. Meanwhile, the Prices Paid Index—which tracks inflation—advanced to 62.4 from 54.9, the Employment Index ticked lower to 47.6 from 50.3, and the New Orders Index deflated to 48.6, from 55.1. Market reaction The Greenback maintains its downbeat performance at the beginning of the week, motivating the US Dollar Index (DXY) to deflate to the 106.60 region. Source : Fxstreet
China is targeting American agricultural exports as it prepares retaliatory measures against new US import tariffs, China's state-backed Global Times reported, raising the stakes in an escalating trade war between the world's top two economies. US President Donald Trump last week threatened China with an additional 10% tariff that would take effect on Tuesday, resulting in a cumulative tariff of 20%, and accused Beijing of not doing enough to stop the flow of fentanyl into America, which China said amounted to "blackmail." "China is studying and formulating relevant countermeasures in...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
Pasangan mata uang EUR/USD mengawali pekan ini dengan nada sedikit melemah di sesi Asia, diperdagangkan di sekitar 1,1730, turun kurang dari 0,10% dalam sehari. Meski terkoreksi, euro masih berada...
US President Donald Trump said Washington is willing to provide security assistance to Ukraine as part of a deal to end the war with Russia. He emphasized that security support is a crucial factor...