Many people in China cheered the meeting Thursday between President Xi Jinping and U.S. President Donald Trump, after months of escalating bilateral tensions. Every time the two leaders meet, it helps ease tensions and creates a "positive atmosphere," Alex Hongcai Xu, chair of Beijing Honglve Consulting, said in Mandarin, translated by CNBC. "This atmosphere is beneficial for negotiations." "Each side lowering tariffs to below 10% would benefit capital flows and cooperation," Xu said. He noted that China can likely buy more U.S. soybeans and U.S.-made Boeing airplanes. Trump said Thursday...
Recent economic data suggests the central bank remains on track to cut interest rates at its next meeting in September. The Fed's selected inflation indicator held steady in July, suggesting the central bank remains on track to begin lowering interest rates as soon as its next meeting in September. Consumer prices rose 0.2 percent in July and were up 2.6 percent from a year earlier, according to the Personal Consumption Expenditures price index released by the Commerce Department on Friday. The annual pace was the same as the previous period. Core prices, which exclude volatile food and...
The US core PCE price index, which excludes volatile and energy prices and is the Federal Reserve's preferred measure of core inflation in the US economy, rose 0.3% from the previous month in July 2025. This figure is the same as in June, in line with market expectations. Compared to the previous year, the index rose 2.9%, the highest in five months. (alg) Source: Trading Economics
Australia's private sector credit rose 0.7% month-on-month in July 2025, after two consecutive 0.6% gains and marking the fastest increase since April. The latest figure beat market expectations of 0.6%, driven by a sharp pickup in business credit (1.4% vs 0.5% in June). Meanwhile, housing credit growth held steady (at 0.5%), while personal credit notably eased (0.4% vs 0.8%). Year-on-year, private credit expanded 7.2%, up from 6.9% in the previous two months and the strongest pace since February 2023. Source : Trading Economics
Tensions between the United States and Venezuela are rising amid a large U.S. naval buildup in the Southern Caribbean and nearby waters, which U.S. officials say aims to address threats from Latin American drug cartels. U.S. President Donald Trump has made cracking down on drug cartels a central goal of his administration, part of a wider effort to limit migration and secure the U.S. southern border. While U.S. Coast Guard and Navy ships regularly operate in the Southern Caribbean, this buildup is significantly larger than usual deployments in the region. A U.S. official, speaking on the...
The European Commission proposed on Thursday removing duties on imported U.S. industrial goods in return for reduced U.S. tariffs on European cars, a key part of the trade agreement the EU and the United States struck last month. The proposals mark the EU's first step in enacting the framework agreement between U.S. President Donald Trump and Commission President Ursula von der Leyen on July 27, which saw the EU accept a broad 15% tariff to avoid a damaging trade war. The United States agreed to reduce its tariffs on cars built in the European Union to 15% from 27.5% from the first day of...
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 said Thursday that he had agreed with President Xi Jinping to cut tariffs on China in exchange for Beijing cracking down on illegal fentanyl trade, resuming purchases of...